HOW TO CREATE A SUCCESSFUL SALE FUNNEL, STEP-BY-STEP PROCESS
HOW TO CREATE A SUCCESSFUL SALE FUNNEL,STEP-BY-STEP PROCESS
Creating is a sales funnel is one of the most significant thingsan entrepreneur has to do but sadly one of the things that many business ownersneglect.
As an entrepreneur, you are aware of the importance of marketing.Without it, your business would eventually fail due to the absence of newcustomers. Hence, if you are not giving enough time and effort into thismission, now is the time to start; and one easy way to start is the utilizationof a sale funnel.
In the sales process, the first step is to identify prospects. Theultimate focus is to drive potential people into the wide end of your salesfunnel; it will make it easier for you to qualify them as good prospects oridentify them as unwanted residue.
First, start by defining your ideal customers. Now, create a questionnaire for yourself thatfind the problems your ideal customers have. Make sure that you will have tocome up with your list of qualifying questions. You will not be sharing thiswith anyone.
For different types of businesses, the buyer needs the problemrecognition stage, and in this state, you will do that.
When you find a problem, your next step will be to trigger asearch for more information.
The strategies used to gather information depend on the size andscope of purchase. People search on Google or take help from applications toget their needs filled. Many people approach social media for recommendations.At this stage, they don't want any promotional content but want potentialsolutions for their needs.
So, here you need to focus on online marketing and socialengagement. Also, do some keyword research to figure out what kinds of contentyou need to create for the middle of the funnel. You will be able to get whichsearch terms in your niche are gaining high volumes of traffic and createcontent that matches those queries.
Customers always compare the alternatives that your article haddiscussed. Again, the time spent in this state will depend according to thekind of purchase being contemplated. Here, evaluation marketing can be greatfor you. Suppose, you are dealing with earphones, at this state your customerswould be evaluating different potential suppliers. They might need resourceslike price guides, types of earphones available in the market or the latestfeatures of earphones.
The buying decision is the natural conclusion of the above stages.The potential customers determined that they have a need, searched theiroptions, decide which one is the best for them. Now, they are ready to spendtheir money on a particular product.
Need to Keepit Running
The bottom line in the sales funnel is to keep your momentumrunning. Follow up with all the new customers you have got and make sure theyare satisfied with their product or service. You can offer a membership-basedrewards program. It will help you to remain in contact with customers, givingyou the perfect means for telling them about the latest deals.
ImportantMetrics, You must have
There are 4 important metrics you should have:
- CustomerValue & Conversion Cost
- Cycle Time
Find accurate figures for each of these methods will createpredictable forecasting.
LeadsEntered- The total number of leads measurewhen you enter them into your funnel- as per the category.
ConversionRate- The conversion rates plus theleads entered the sales. It is very easy to measure.
CustomerValue and Conversion Cost-Customer valueis simple for a once-off purchase. Simply attach the value of the product tothe customer.
ConversionCost- Conversion cost is used tomeasure the profits or losses we are making.
Cycle Time- This metric is vital for forecasting. How long does it take fromthe time a lead enters your funnel until the time they buy your service?