What Exactly is a Sales Funnel, and Why Do You Need it?

What Exactly is a Sales Funnel, and Why Do You Need it?

A sales funnel is a step by step process that potential customers are taken through to determine whether or not they want to buy a company’s products and services. 

To qualify a prospect, a sales funnel is made up of several stages that go vertically from the top to the bottom of the pipeline. Thus, the above are made possible by the marketing and sales communication tools. 

Sales lead

A sales lead is anyone that has the potential to turn into a customer. The evidence that qualifies an individual or an organization as a potential customer of a brand is sometimes called a sales lead. The marketing efforts, intelligence, and other marketing strategies are the ones that provide businesses with sales leads.

Outbound marketing

Working toward the primary goal of acquiring data about possible clients and analyze it for the business is called outbound marketing. 

What Exactly is a Sales Funnel, and Why Do You Need it?

Marketing lead

A marketing lead is a person or a company who has been validated against the brand buyer profile. Later funneled through the sales process.In addition, a future user who expresses his interest in the product solution upstream is also a lead.

The role of marketing lead

The role of a lead is to go through verification and then get qualified as a potential customer base on marketing criteria.

Tips: Will this be a one-time purchase? Is the present lead a bulk buyer or does the lead have a personal transactional style? Also, determine whether or not your lead is reliable. Sometimes sellers do a lot of exercises to convince buyers how trustworthy they are. In return check also what does the prospect’s pay history say?

The sales funnel strategy

The sales funnel strategy is to contact future clients, often known as prospects. Businesses use outbound marketing to spread a broad captivating message with a goal of attracting buyers at large scale. Then take them into stages of qualification and disqualification. The goal is to exclusively connect with qualified leads until the qualification process ends. As a result, the greater the number of leads obtained, the greater the chances of closing deals. How? Having sales teams in several locations at the same time on a regular basis is a smart method to make it work.

Trigger strategy

Give something that will be valued to potential customers. Something that will trigger their curiosity to try out your product. Create a feeling of interest every time sales reps talk to them. This method works effectively for products that are currently on sale. You will not believe how quickly word of mouth will spread around the neighborhood once members of the community hear and experience it.

According to experience, the moment residents of a chosen community see salesmen promoting in that bright colour uniform, they know something good is happening. Trust me, the curiosity to walk closer to find out what is really going on is already boiling in them.

Goal settings

Each sales crew consists of many sales reps, each rep has a goal of engaging with 150 leads. Given that each sales representative is given a goal of closing five deals, That is a success.

Sales Funnel stages

What Exactly is a Sales Funnel, and Why Do You Need it?

  • Marketing intelligence 

Marketing intelligence is the outbound marketing, which includes marketing and sales enablement tools, human efforts and more to collect future leads’ information for business purposes.

  • Lead generation

The sales team is sent to a new location where they will meet with prospects they have never met before. A game plan, as well as an attack plan, has already been devised. They dispersed throughout the area to ensure that the site is completely covered. Random prospects are approached by salespeople as they pass by.

  •  Lead nurturing

The sales function is to provide professional guidelines to the lead in terms of product value sales vs product acquisition. The guideline includes supplying relevant info about the brand  and discovering the prospect’s eligibility to purchase. 

Leads are receiving education about the product: As most of the prospects did not plan to meet salesmen on their way, therefore pitching should happen while considering the valuable time of potential buyers. So the ability to assess possibilities of introducing an intro, presentation or closing deals is recommended. As a result, a high degree of summarization is required here to ensure that prospects obtain relevant and sufficient information, then trigger instant purchases or signups. Which could lead to immediate purchases or subscriptions.

  • Marketing qualified lead

The following steps are taken to qualify customers on the spot. The salespeople must decide whether the leads are a good match or not.

  • Sales qualified lead

The lead is immediately ready to be closed after passing the sales pipeline with flying colors. Now that the salesperson has the go-ahead to close the deal, he or she should figure out how to do so in the most efficient manner possible.

  • Closed deal

When a sales lead is brought to the final agreement, it is referred to as a closed deal.

  • Post-sale

After you have acquired customers, the next step is to rehash, and keep them as repeat customers and build a solid working relationship with them.

The importance of sales funnel 

  • Directs salespeople to the correct buyers: The system allows salespeople to stay in context, as a result it retains the right buyers.
  • The sales tools make it easier to communicate with customers by providing data, analysis, templates, and more.
  • It enables salespeople to help customers make purchasing decisions. As a result, salespeople are able to use sales communication tools to lead prospects through the purchasing decision journey.
  • Buyers are satisfied too: Going through this process together with prospects, chances of misleading potential customers get slimmer.

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