How an Effective Sales Funnel Attracts, Obtains, and Retains Customers for Your Business
Attracting a prospect may be easy, but retaining a lead requires an effective marketing approach with proactive effort.
Every day as a business owner, you have to constantly think of new ways how to convert shop visitors into paying customers. But, worry no more! We’ll be making things easier for your business to improve sales, and retain customers with a consumer-centered marketing tool that you can utilize – the sales funnel!
Before we move further to how this tool can help your business, let’s find out what a sales funnel is.
What is a Sales Funnel?
A sales funnel or revenue funnel is defined as the buying process that aids business owners to turn potential customers or prospects into paying customers or leads. This allows you to lead consumers into buying a product or a service from your business.
As the name “funnel” implies, it consists of parts or stages that will make up the whole marketing model. Now that you know what a sales funnel is, let’s now move on to discussing its stages:
What are the stages of the sales funnel?
Awareness –
This is the first stage of the sales funnel. Your prospect is now aware that your products or service exists. An advertisement from a website, blog or social media page or word-of-mouth recommendations from friends or fellow customers might have been the bridge for the prospect to learn about your business.
In this stage, you might want to further convince your prospect to learn more about your business by encouraging them to visit your social media channels or website if they haven’t already, or better yet, contact you through phone or email.
Interest –
The next stage of the sales funnel is interest. In this stage, your prospects are now starting to learn about your products or service. You can share more content about your product or service that educates the prospect about what it is and how this will benefit them.
Decision –
The third stage of the sales funnel is the decision. This is where the prospect and the business owner or seller negotiate and the readiness and decision to buy the product or service is being made.
In this stage, you might want to provide your prospect with your best and most irresistible offers such as discounts, free shipping, or bonus products as your potential customer might still be considering various options before making the purchase such as the quality, variants, packages, pricing, among others.
Don’t forget that this is stage is where prospects decides to move forward with the purchase! You might want to avoid being too aggressive or pushy with your marketing approach as this may turn off the prospect and leave the opportunity to buy your product or service.
Action –
This is the last stage of the sale funnel, the action stage or the purchase stage. This is where your prospect becomes a paying customer!
But, this is not yet the end, as your goal is to retain your new customer to make future purchases with your business. So in line with this, you may want to enroll them in a rewards program or invite them to sign-up on your weekly or monthly newsletters to keep them updated on your business’ latest offers and promotions, as well as new products or services.
What is the importance of a sales funnel in a business?
Increase sales opportunities.
The sales funnel provides you a straight and easy pathway to follow to attract prospects, turn prospects into leads, and especially, retain leads in your business.
Allows Product Development.
The sales funnel model demonstrates a smooth way of marketing. As your customers are now engaged with your marketing approach, it makes it easier to encourage them to send feedback about your product or service. This allows you to improve and optimize your offers for your other prospects and leads.
If you want to learn more about sales funnels and how they can benefit your business, read more HERE!
Are you ready to generate leads that convert to customers?
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