Top 5 Ways To Create Sales Funnel Stages
The most critical part of any business strategy is to identify how an enterprise can generate leads and convert into sales. One of the most efficient ways to manage the process is to employ sales funnel.
The sales pipeline is a tool that marketers use to assess the position of the lead in the buying journey.
The important thing here is to remember that you have the power to influence the number of clients that pass through your sales pipeline to reach the ultimate bottom.
It follows the AIDA model and helps the people interested in the brand flow seamlessly down the funnel.
Stages of a sales funnel
a.Awareness: This is the stage where the customers enter the sales funnel and are made aware of the business and services or products at the offer.
This is the moment at which you first catch a prospect’s attention.
b.Interest: This is tapping the curiosity of the consumer. At that point, you’ve managed to grab their attention and they wish to know more about the product.
So, show them your USP and what sets you apart from the competition.
c.Decision: At this stage, the lead is a full-blown prospect. All he needs is one final push.
The outcome of the opportunity may sway either way — win or loss — depending on the prospect’s interests as well as the offer that has been made.
d.Action: As the name suggests, this is where the entire action takes place.
At this stage, the lead finally converts into a sale and becomes a part of your business’s ecosystem.
The goal, however, is not to stop here but to try and build value-based relationships with the client audience. This improves the chances of customer retention.
Creation of sales funnel stages
a.Understand the target audience
Focus on quality rather than quantity. Most marketers fail because they target the wrong audience and keep wasting their time and resources.
It is, therefore, important that you carefully understand your buyers’ persona. Categorize them by their demographics, age, gender, behavioral traits among other details.
This will help you develop a better clarity on the individual lead profiles and you can then compare if they align with your ideal customer profile.
Use Google Analytics to check the average time a user spends on the site. Monitor the existing base to understand their purchase decisions. You can also send them a questionnaire to gather more details.
In today’s age, social media can be a great place for market research. People often vent out their frustrations, tweet about their needs and desires.
Keep a tab on who is likely to feature in your or your competitors’ clientele.
b.Capture the attention
Now that you have the audience in focus, it is time to imprint the brand in their minds. Effective marketing can help you stand out among the competition.
Be mindful of the channels that you use for communication. For the best results, your potential buyers must have high engagement rates on those channels.
Depending on the budget, advertise your services to the right crowd. Don’t forget to make your presence felt on social media. Get involved in the online chatter to woo a customer.
Another great way to engage the customer is through great content. Webinars, tutorials, blogs, case studies, and demonstrations should help the customer understand the product better.
If you think that your targeted audience is mostly offline, opt for traditional advertising methods like billboards, events, paper ads, flyers or brochures Chances are that cold emails might land you a lead that was not on your radar.
Now that you have clarity on your client base, time is to attract them to your business. While there might be enough buzz about your brand, you need to convince the customer that you are the best choice.
Lead generation is the process of attracting prospects who have indicated some interest in your company’s services.
A lead’s activity can reveal how close they are to a buying decision. A prospect that has asked for a demo is a marketing qualified leads (MQLs) rather than someone who has just visited your website once.
You can have an email list or messaging service that can inform them about new products or services. Include things like comparison charts, price breakdowns, special features, promotional offers among other details in the mail.
This step of engagement is critical for retaining leads further on as if they do not engage in this stage, they are unlikely to go ahead in the process.
While you’re promoting your product, don’t forget to have call to action button that can direct the client to the next step. Your banners can include special offers, loyalty rewards or promo codes for their benefit.
Send them newsletters that explain your product better. Include promotional offers or demonstrations in your email drip campaign.
You can also probably include testimonials from previous clients in the mail. Personalizing the mail also gives you additional brownie points.
Interact with them but do not behave too pushy.
d.Making the pitch
Out of the multiple prospects in your targets list, very few will boil down till this stage. Since they have continued the communication till here and are still engaged, chances are that they will likely seal the deal.
At this point, they have developed sufficient interest in the product and need a nudge to complete the transaction.
You can either approach the customer through email, face to face marketing or cold calling.
Package your pitch in such a way that the customers get a clear view of what they will be paying for. Walk them through the product highlighting the features and benefits. Discuss pricing as well.
While detailing is important, don’t get into technicalities.
This is the final and the most critical stage of the funnel. Have follow-up calls and gauge their interest. This is also the time when you can remind the terms and conditions as well as negotiate the offer.
For the deal to close, make sure that the checkout page loads faster and there are no payment hassles.
While you have managed to crack the deal, don’t directly jump onto the next lead and forget this one. Continue reaching out to them. Collect feedback, thank them for the purchase, offer rewards to build the relation.
Creating and optimizing a sales funnel is hard work. It seems to be a daunting task but can do wonders for the business.
While you may not be aware of where every lead is in the pipeline, an effective strategy would be to make sure the right content is available at each sales funnel stage. Are you ready to apply them to your business?
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