When thinking of sales, many beginners tend to think this merely in terms of the end result of making a profit.
The entire process of the sales funnel, however, involves much more than that – from the production, moving to the deployment, followed by the advertising, and the actual transfer of the product for the money.
Each part is important, as this would dictate the overall success of your business.
The Sales Funnel
The sales funnel is a concept that integrates the psychological behaviour pattern of a consumer when they buy a product or purchase a service.
The overall process involves four basic steps: awareness, interest, decision, and action.
In a gist, these levels are the phases that a member of your target audience goes through before becoming an actual customer.
Much as implied, the awareness phase is merely knowing about you and your product or service. Interest is the next follow-up action, in which they actually look at your product and read up on it.
The decision process is much more difficult, as this involves the individual considering whether or not your product is actually worth consuming.
The final part is action, where the actual exchange of goods and services for money happens.
The visualisation of this concept is a funnel. The logic of this is quite sound, although the specifics are much more complicated than the simple four-step explanation and process.
How to use it for your business
Sales funnels as a concept are usually implemented even without you knowing the specifics of it.
Utilising it to its full extent, however, requires a little bit more knowledge.
Once you have the grasp of it, you can use it for the betterment of your business.
To help in this regard, here are some simple tips on how to refine this process for your business:
Have a strong start
Many businesses focus on the “decision” part of the sales funnel, bombarding possible customers with the information necessary to help them decide on buying their product.
As much as this is another important part of your process, the most integral would definitely have to be the first step.
Without a strong start, you’re already limiting the number of people that enter your funnel, leading to a more drastic output in the end.
From the onset, offer something unique and valuable for your customers.
By standing out from the rest from the very beginning, you’re already widening your margins enough to allow more potential leads to enter your sales funnel.
More input can lead to better output, so prioritising your initial step is a necessity.
Re-evaluate your funnel
Many tend to forget to re-evaluate once their sales funnel is done. If you’ve proven that it works, then fine-tune it.
There’s always an improvement you can add to streamline it, so look at possible gaps to help widen your funnel.
By utilising highly effective strategies, you can fine-tune it for the maximum output possible.
Know that there is no one way to succeed.
Many businesses employ several funnels to capture potential customers, while even smarter businesses realise that the end goal isn’t always linear.
Be prepared to branch out your funnel and provide an avenue for your customers to come back, whether or not they will buy a product.
At this point, you now have a broader idea of what sales funnel is and how you can use it for the betterment of your business.
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