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What is Sales Funnel? And why your business might need one

April 23, 2020
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Sales Funnel

What is Sales Funnel?

Sales makes a vital department for any company to run and grow.It plays an imperative part in effectivepromotion of a company’s goods and services.

Sales funnel offers a process for potential customers to experience and become customers.

It can have a substantial impact on your sales outcome.The word funnel shows the among of individuals that go throughout the sales funnel procedure. It is the best way to find out the loopholes in the sales process, if managed properly.

Sales funnel is divided into different steps depending upon the nature and type of the business.

The Phases of a Sales Funnel

  • Awareness:

Making your customer aware about your services/ product. Awareness can be made by various methods.

For example: SEO, ADS, Videos, word of mouth/ referrals etc.

  • Interest:

This is second stage of sales funnel where usually customer is doing research work on the product/ services which can justify/ fulfill their requirements.

This is the phase where you can pull the customer towards your product or service by using the great content, however still this will not guarantee the purchase.

  • Evaluation Phase:

This phase includes the comparison process between the product and services, where your product is there in the list.

Usually at this step, the buyer is very to becoming your customer. This is the phase where your product/ services catalogue plays a very important role and increases the chances of converting prospects into customer.

  • Decision Phase:

Here customer finalize your product/service and decides to buy it, therefore the negotiation starts here.

In this phase key concern of the customer is to have a consolidated package which cover their need and requirement optimally.

  • Action Phase:

In this phase customer finally signs the contract with you by clicking the purchase button.

  • Retention Phase:

This phase does not only include maintaining a good relationship with the customer but offering new packages, technical guides, latest market updates, in short keeping the customer engaged and excited about the product.

This phase is very important as the word of mouth play a vital role in the growth of business, if it is positive. In this phase you must continuously strive to make the customer repeat the similar purchase with upgraded options or new product.

Gathering customer feedback and providing them quick and reliable solution at this step is very important.

Who should use a sales funnel?

Every business should do. Every business who is marketing a service or product needs a proper sales funnel plan.

Without having a sales funnel strategy in plan, your marketing measures may not get you acknowledged because your potential clients are ambiguous as to what the coming steps are in the buying process.

You wish to foster your potential leads to the edge where they understand they cannot live without purchasing your service or product.

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Why your business needs it?

Sales Funnels are important since it takes your consumers on the way of the buying procedure.

Adequate sales funnels will shift your website visitors into subscribers and subscribers into clients or customers.

Having a sales funnel/s offers you a prospect to not always chase the next sale. After all, every business wishes it!

Chalking out a sales funnel strategy can help you be persistent with your promotion and helps you analyze the progress you continue in every stage. Measuring the progress is important since you can initiate to recognize what phase business fall at and start aligning.

Effective sales funnels create credibility and trust with time by offering amazingly valuable content. Increasing their trust will offer your potential clients, even more, a reason to buy from you.

HBL copy c - What is Sales Funnel? And why your business might need one

Final Thoughts

I hope this post to sales funnels was beneficial for you. A right sales funnel is essential to scaling your businesses efficiently, whereas developing credible relationships with your potential clients.

If you need any assistance regarding sales funnel development or business development, you can contact Boundless Technologies. We are working in the industry since 2002 and have a number of satisfied clients.

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