Sales funnel, also known as revenue funnel, purchase funnel or sales process, is the visual representation of the ideal process that customers go through as they go from the point of awareness to the point of taking an action. The point of awareness is the stage at which they are still “doubting Thomases” and can be seen as potential customers. The action stage, however, is the point at which they become actual customers making a purchase from you.
A sales funnel, therefore, is the visual representation of the pathway that captures customers and moves them from awareness of your product to interest, desire and ultimately to taking an action of purchase. In simpler terms, sales funnel is a business plan for leading customers from the ” doubting Thomas I don’t know you” stage to the “I trust you, let’s do business together” stage. It is called a sales funnel because there are large number of people at the top which steadily narrows at each step of the process.
Creating a sales funnel is one of the most important things you need to do as a business owner. Enumerated below are steps to take in creating a nice and efficient sales funnel for your business.
Identify your potential customers
The goal is to drive interested people into the large end of your sales funnel so that you can sieve the good prospect from the “unwanted prospects.” First, begin by creating your buyer persona. Your buyer persona is a semi-fictional representation of your potential customer gotten from the result of your market survey and data of your existing customers. The reason for creating the buyer persona is to figure out your potential customer’s needs, desires and interests.
Now that you’ve identified your potential customers and you know their needs and interests. The next step is to attract them into the wide end of your sales funnel by creating awareness. This can be done through posting engaging and shareable contents centered around their interests. Posting images, videos, infographics, relevant and inspiring content will promote interest and help achieve your goal of attracting and bringing people to your website or page.
Also, after posting relevant and engaging content, the next step is to have a great landing page. Your website landing page is the first contact your potential customers have with your business and it is important to ensure that they have a good first impression of your business. Have a landing page dedicated to the campaign goals enumerated earlier. A good landing page should also include a call to action (CTA) for website visitors to sign up for your email list, or subscribe to the website. This helps you get their contact information, which becomes your first line of communication and a massive tool in leading them to the next stage in the funnel.
The next step is to present offers and promotion. Offer incentives to potential customers that have moved to the next stage of the funnel which is interest. These customers have shown interest in the product or service probably by clicking on a followup email to view your product.Often, one of the best ways to engage people at the interest stage is to give them a free sample of what you have to offer. If they like it, many of them will be encouraged to make a purchase.
The final stage is the action stage which is the stage after a prospect has made the decision to buy. It is the stage at which interested customers perform the action of buying the product. This is the stage to turn those customers who have shown interest in your products into customers that actually buy the products and convert them to regular buying customers. You need to ensure your product or service solves your customers problem delivers a specific benefit and has features which they can’t get from your competitors.
One step to take to do this is to answer their questions and build a trustworthy relationship with them. Ensure you follow up with all the new customers that you made a sale to and ensure they are happy with the product or service. This will allow you to remain in contact with customers, giving you the perfect opportunity in the future for informing them about new available deals and services.