What is a Sales Funnel? And How Does it Work?

A sales funnel is a marketing term. It visualizes the sales of products to the customers.  You can design the journey of a customer with the help of a funnel.

The funnel is a buying circle for a customer including all the actions that they take.

It has different names (i.e. sales funnel, purchase funnel, marketing funnel, conversion funnel) but all the models mean the same.

4 sales funnel stages

Different companies have different kinds of funnel stages but are generally divided into four stages. These are given below

• Awareness

• Interest

• Decision

• Action

Stage 1: Awareness 

This is the first and most crucial stage in the sales funnel. Here you need to create customers' awareness by giving them suitable solutions for what they are looking for.

This stage is all about informing the audience about your products, services, and solutions and telling them how they can be satisfied by the services.

 

Stage 2: Interest

In this second stage, the prospects of the customers decrease but the possibility of buying products increases.

Some customers express their interest in products by seeing the offers from the sales funnel. If they want to buy something they go to the next step through the funnel.

Stage 3: Decision

 

After analyzing the previous two-stage the customer finally decided to buy. They dig into the process from pricing to packaging. 

This is the best time for you to do your best business. Attract the customers by giving discounts and bonus products.

Stage 4: Action

This is the final stage of the sales funnel. Here the customer becomes a part of your business system by purchasing any products. 

In this stage you have to focus on customer retention. After reaching the bottom of the funnel you can invite the customers to give feedback. You can also be available for them to give tech support.

How to build a sales funnel

A sales funnel can be made in many ways. It depends on your business industry and your work. 

By following a few steps one can make a sales funnel for their business.

1. Creating a Landing page

A landing page is a very important part of the sales funnel because a customer can visit your site in many ways. They can enter through a link from social media or by signing up for a webinar.

The customers should get a clear concept about your company and the services you are providing.

2. Offer something valuable

In this part you have to give your prospects something for exchanging their email. Giving an ebook can be an effective thing.

3. Nurture the prospect

At this part you have to nurture the prospects that show interest. You have to stay connected with them on a regular basis.

4. Keep the process going

In this part of the sales funnel your prospects may not continue with you. But always you have to continue making relationships with the prospects.

If they don’t make any purchase, nurture them  with another offer. 

How to expand a sales funnel

1. Define the target audience

2. Solve problems

3. Define the landing pages

4. Active in social media

5. Utilize users reviews

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