Whether you are running a small business or leading a multinational conglomerate, you cannot dream to achieve larger business goals without having a proper sales funnel in place. A robust and advanced sales funnel is a dire need for every business that aims to help you grow uninterruptedly and successfully in the market.
It is thus important for every business to understand the concept of the sales funnel in detail so that you can reap maximum benefits through its implementation.
So, let’s begin.
A sales funnel allows companies to visualize each step that a prospect takes to become a customer. There are various steps an individual takes before becoming a customer. Such steps are broadly categorized into various stages that we have explained in detail in subsequent sections.
There are broadly 6 different sales funnel stages.
Stage 1 – Awareness: Unless your prospects know you exist or sell a solution that they want, they are not likely to even give a thought about you. Executives thus need to build brand awareness at this stage. It can be done using cold calling, email marketing, paid social media campaigns, and many other ways.
Stage 2- Interest: When a prospect responds to your marketing campaign, for example, fills out a form, gives you a call or sends a message, it reflects an interest in your services. It is the responsibility of the executives to respond promptly, smartly, and effectively at this stage to keep the interest alive. A thoughtful interaction at this stage can make a huge difference.
Stage 3 – Evaluation: Not all leads are equally interested in buying your services. But how would you evaluate which leads are highly likely to become customers? Lead Qualification is the answer. Prepare a set of questionnaires, engage with them and understand the interest level of prospects based on BANT (Budget, Authority, Need, and Timeline) and other business-critical factors.
Stage 4 – Engagement: Once a prospect shows deep interest and reflects high chances to buy from you, it is now the time to keep your brand on the top of their minds. Running personalized marketing campaigns is one of the best ways to engage them better. Also, sharing ungated quality content in the forms of White Paper, E-books, Case Studies, etc., can help them understand the uniqueness of your services.
Stage 5- Action: This is the stage where your prospects feel you deserve their money. The decision to buy is made at this stage of the sales funnel.
Stage 6 – Retention: Sales work doesn’t end just after you close the deal. It goes beyond that. You need to continue engaging existing customers so that they can become repeat buyers and prevent them from switching to a competitor. Interesting timely discounts/offers and personalized messages on special days can work better to meet this objective.
Creating an effective sales funnel looks challenging but its adoption is vital for the success of a business. You cannot aspire to grow in today’s hyper-competitive business world without embracing an advanced sales funnel. The sooner you build it as per the business needs, the better it will be to sustain and thrive.
Are you facing challenges in getting enough business leads? VSynergize can help. We are a trusted name in the field of lead generation that has helped numerous renowned organizations to grow vertically.
Our sales experts can help you meet your business goals in a timely and cost-effective manner. Contact us at email@example.com to know more about our services.