What exactly is a Sales Funnel?
A Sales Funnel is essentially the journey that businesses lead prospective customers through when they purchase products or services.
Most small businesses probably have a sales funnel process without even realising it. The real power and benefits of the funnel come from documenting and tracking it’s various phases allowing business owners to effectively tailor their marketing efforts. This ensures conversion and advocacy at the end of the journey.
The primary goal of any sales funnel must be to move prospects from one phase to the next until they are ready to purchase from your business and become paying customers.
Unfortunately, a sales funnel is not like a real-life funnel where everything that goes in comes out the other end. Wouldn’t that be nice? Every prospect who enters your business leaves as a customer, in which case, the shape would no longer be a funnel – it would be a cylinder!
But the real world is slightly different.
The sales process always begins with many potential customers and ends with fewer who actually make a purchase. The sales funnel tracks these potential customers from the very first time they hear about your business, right through to the moment they buy from you and even beyond.
It is important to note at this stage that you CAN design your sales funnel to suit your own needs. The sales process differs from business to business depending on your own individual business requirements so feel free to add levels and details as you need them – it is your business that will benefit from accurate tracking and changes during the sales journey.
A little research on the internet will show that some sales funnels have many levels however the sales funnel that I will be working with has been modified for my own requirements for two main reasons:
Why over complicate things from the beginning? My sales funnel is a work in progress and I can add to it over time if I find that I need to.
2. The Advocacy Phase
A lot of my work is attained via my existing clients and I want to explore that avenue of marketing in order to continue to grow it.
Over the next four blog posts, I will go through each of the phases in my modified sales funnel – Awareness, Consideration, Conversion and Advocacy.
Note: The content of each of the next four blogs comes from a workshop I delivered to the Cassowary Coast Business Women’s Network. If you or your organisation are interested in my services as a guest speaker for your business network, please get in touch via firstname.lastname@example.org