High Conversion Sales Funnels
A sales funnel one way a lead can progress from the beginning to the end of a sales process in your organization. A typical funnel is an inverted pyramid. When a greater volume of leads comes into your system, the top of the funnel is typically wider. The funnel becomes narrower as they are qualified and finally culminates in the leads who become your customers. Sales funnel management describes this journey of a customer.
A good salesperson may fail to meet his/her targets if their sales funnel is not well managed. It’s the 90-10 formula. Only 10% of the leads that are assigned will be sales-ready straight away. Most companies find it difficult to manage the other 90% of leads properly. This leads to a more successful salesperson who understands the entirety of the sales funnels to convert these leads into customers.
The steps in your sales funnel illustrate prospects’ journey. Getting to know your funnel can help you identify the holes in the funnel that cause prospects to drop out.
It is important to understand your sales funnel completely to solve your optimization issues. We’ll go into exact details of the funnel’s functionality below, but know that your conversions can be influenced by how visitors work through it.
You may have a sales funnel that works for you, but you may have a sales funnel that holds many negative points for you. This means the funnel will simplify the entire process for you and help you see which leads are at the right stage of the sales process.
People are aware of your business and what it does. These are usually in the top area of the sales funnel. This includes a broad bucket. How wide would this depend on your marketing and promotion campaign efficiency and quality? It is too early to think about lead filtering, as all the leads may have come into contact with your company.
You have contacts - filled out forms, visited web pages, contacted sales, attended webinars, interacting with you on social media - which enter our system as leads. These leads are generally marketing qualified since they have expressed an interest in seeing what your business offers.
By getting in touch with leads, the salesperson will know whether or not the products/services make sense for them. These are sales-qualified leads, and you would likely discuss product fitment and pricing with these leads. Some require immediate action, while others will not.
This stage of the sales cycle offers an almost complete understanding of your business and how it will benefit them. It is time to evaluate you against your competitors. At this stage, your leads will also be negotiating prices, a strong indicator of buying intent. This is the penultimate stage of your funnel.
Your clients have brought you business from all people who were aware of you who have brought you into the system. This is the peak of the inverted funnel.
I have already elaborated on some of the main benefits of having a well-designed and efficient sales funnel for your business. These are a few of the most important ones that I can think of.