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What is a Sales Funnel?

Understanding the Sales Funnel

Simply put, a sales funnel is the process that helps a business move a potential customer closer to making a purchase or becoming a client. It is a step-by-step process and involves a series of actions such as automated emails, targeted videos and articles, and landing pages that will help the consumer move through the funnel.

The journey through the sales funnel typically begins with awareness – someone comes across your website or a product you are offering. The next stage is familiarization, where the potential consumer may engage with your website or social media page to learn more about your business. At this point, they will begin the consideration of whether they want or need your product and may ask questions. If the potential customer decides they do want to buy something from you, they move to the purchase area of the funnel. At this point, it is up to you to continue engaging them with your brand to build loyalty and generate additional business. 

sales funnel

Although the sales funnel would traditionally end at the point of sale, today's consumers view this as the beginning of the relationship. If you can foster these relationships from the beginning, you will be able to take your business to the next level by getting referrals and upselling existing customers. 

While the goal is to generate leads from a pool of potential consumers and get them to commit to a purchase at the end of the decision-making process, it is important to prevent it from stopping there.

Benefits of Using a Sales Funnel

Building an effective sales funnel is essential to growing your brand and creating a foundation of loyal customers. According to a survey by Entrepreneur, about 90% of leads sent to a sales department never take any action.

It can be easy to lose track of leads, but a sales funnel can help you remedy that. If you do not have an established process to follow up on leads and manage them, you may lose the momentum you had to push the consumer through the sales funnel. As a result, your growth may be inconsistent, and your pipeline will start to dry up.  

Since the sales funnel is based on human behavior and the decision-making process, it offers a better way to understand the customer experience and allow you to make necessary improvements to ensure your pipeline is always full.

Even though the concept of marketing funnels has been around for a long time, many people are still not using it for their businesses. If you're not investing in creating a marketing funnel, you're missing out. Consider working with us to create your very first funnel and finally see what the fuss is all about!

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