Marketing sales funnel is basically a path between the customer sees your product for the first time until they actually make a buy. It includes various stages from lead generation to lead conversion.
Why do you need a sales funnel?
As an entrepreneur, businessman or salesperson, we always face an issue of not reaching the monthly sales target. Also, we do notice the return on investment of advertisement to sales is very low. This all happens due to the biggest mistake that we do. We try to sell a product or service directly to the customer.
Before selling actual products or services, one needs to understand the customer mindset and psychology.
We must understand that peoples are not interested in buying anything from unknown brands. The customers always prefer to have a buy from trusted and known brands. We must focus on creating a trusted brand rather than wasting efforts and costs on selling.
That’s the basic difference between marketing and selling.
What is a Sales Funnel?
Sales funnel is basically a path between the customer sees your product for the first time until they actually make a buy. It includes various stages from lead generation to lead conversion.
What are the stages of a sales funnel?
It is the stage where the customer is viewing your product or service for the first time. You are making your potential audience aware of your brand. In this stage, the customer will not be going to buy your product and even you would not make a try to sell.
Customers may reach this stage via any Facebook post, a Google ad or a random search query.
At this stage of the sales funnel, you will notice that your customers have little interest in your product or service. This interest may have been generated due to a coupon code or discount you have been offering. It may also due to retargeting campaigns. In this phase, customers are comparing and making purchase decisions. Even at this stage, you must not try to sell the product rather try to push customers to the next phase.
At this decision stage of the sales funnel, customers are nearly convinced to buy the product and considering various options. Luckily you are one of them. You must now put your extra efforts to offer better prices or addons and beat your competitors. You must present yourself as the first choice to customers.
This is the final stage of a sales funnel. At this stage, the customer clicks the buy button and makes a purchase. But your work does not end here. Until this stage, you have created a space in the customer’s mind and also gains a little trust. Thus you must use this factor to offer an add-on service to an existing purchase.
Throughout the journey of the sales funnel, you will notice at each stage the number of customers are declining. It results in the narrowing of sales funnel at the next possible stage. Thus you must always focus on pushing more people to the next stage through various means.
How does a sales funnel work?
Consider the following example.
You are owning an eCommerce site selling sports equipment. Consider you had run a Facebook ad campaign to promote the website. Randomly if someone lands to your site through that ad and he is the first time visitor. He is in the Awareness Stage.
Now it’s your turn to push that visitor to the next stage that is Interest Stage. It can be done using retargeting campaigns run via google ads or another Facebook post. This time you can try to collect his email address by offering a free e-book.
Once you have successfully collected an email, That’s the way to the next stage, push the customer to make a Decision Stage. It can be done by offering an exclusive coupon code of 20% off on his last product visit.
Now convince the visitor to take action and buy the product. It can be achieved by creating artificial scarcity. Like sending him notification of only one product available in stock. That’s the last Action Stage.
This way you can generate more sales by using this funnel with the same cost you are spending before. If it helps us do also read this short article to make a choice between traditional marketing and digital marketing. Also, do visit our official website to know us better,