You have probably heard about sales funnel before but don't know what they really mean. In this article we'll explain everything you need to know about them.
Sales Funnel Meaning
A sales funnel is a visual representation of the entire sales process. It shows where prospects start, how they progress through each stage of the buying cycle, and finally how they convert into customers.
Sales funnels are used to help businesses grow their revenue. They're also great tools for marketers who want to increase conversions.
Sales Funnel Stages
We like to break the sales funnel into three main stages:
Traffic or leads- It's essential that you can track where your traffic or leads are coming from so you can work out which of your efforts are working. We help clients to break down and measure their traffic such as Paid Search (Google Ads), Paid Social (Facebook Ads), Organic Search (free traffic from Google), Organic Social (traffic from organic posting on socials) and referrals from other sites. This also helps to get a cost per lead from the paid advertising spend and for us to review and adjust the paid advertising campaigns to attract more of the right kinds of traffic. In addition to getting traffic, we want to make sure it's quality traffic and they then the prospect take action and move to the next phase of the funnel.
Prospects - Once you have traffic, the next stage is a prospect. The prospect lead may move to prospect status once you obtain their information. This may include an enquiry from your website via a form, phone call, site visit, booklet download, email sign up to name a few. These all show the customers interest to learn more about your product or service.. We work with clients to make sure that their sales process provides a great user experience and it's easy to take the next step. Whether this is via their website or through the customer contact via phone or direct messaging.
The final part of the sales funnel is the customer bookings or sale- Once the customer makes contact, we recommend to our clients to capture the clients details through the various stages of the sales funnel. This may be booking a site visit or appointment, follow up call, getting a quote, joining a waitlist, enrolling or making a sale. It is essential that the team monitor customers throughout each stage of the sales process and are prompt in actioning each touchpoint. We work with clients to map out each step of the process to review if a system is in place, if it can be improved or automated.
This is a brief overview of what a sales funnel is and the stages a customer goes through in the sales funnel. Each sales funnel follows the same premise but can be customised based on the customers needs.
If you would like help a sales funnel strategy including mapping out and implementing a sales funnel process, reach out, we'd love to chat.