A sales funnel is the process that a prospect goes through from their first interaction with your business right through until they become a paying customer or client. The objective of a sales funnel is to push qualified prospects from one stage to the next while dropping those who are either not the right fit for your business or who do not need your product or service at this time.
A sales funnel typically consists of three parts:
- The top of the funnel consists of the marketing that attracts prospects to your business. This could be anything from advertising, having a physical shop / premises or it could be the landing page on your website.
- The middle of the funnel involves all the parts of your sales process prior to the sale. This could include people trying out a product in your showroom or website visitors reading about the benefits of your products on your website or in your marketing materials.
- The bottom of the funnel consists of the buying decision and the final purchase process.
In order to optimise your sales funnel, you should map out every aspect of your customer’s journey and ensure there is a call to action at each stage. If a potential customer chooses not to act, they are effectively deselecting themselves from the process which can save you time and will allow you to focus on those customers who are going to move down the sales funnel and make a purchase.
You can further optimise your sales funnel by using data analytics to better understand your customers and their behaviours. This will allow you to refine your call to action at each stage of your sales funnel.
You can also improve your sales funnel by focusing on after sales support and looking after your clients. Taking the time to understand your client’s objectives and checking in regularly can help you to win repeat business.
Do you have any tips to optimise your sales funnel? We’d love to hear your thoughts over on our LinkedIn page.
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