The sales funnel is one of the core concepts used by many successful businesses. Visualise a physical funnel where at the top something is poured in and gets guided in a particular direction – this is similar in sales where at the top many people, such as visitors to a site, enter the funnel then they are taken through a specific procedure and guided towards a sale. Of course in a business situation many who enter do not result in a sale, but, with carefully constructed multi-step procedures the number of visitors that do result as customers can be maximised.
Did you know?
96% of people that land on your website aren’t ready to buy from you straight away. There’s a long road from landing on a website to buying a product. You need to nurture them and build trust until they’re ready to buy from you.
But don’t worry. Those 96% are not all lost! You just need to work a little harder to convince them.
That’s why you need CyberWebPAGE Sales Funnel to automate this for you and turn a casual visitor to a potential buyer and return customer.
At the top of the funnel, where the greatest numbers are concentrated are the leads. What exactly do we mean by a lead here? Basically, a lead is not a sure thing, these are people that have shown the bare minimum of interest in what you have to offer, sometimes even no interest.
Some examples of people at the lead stage could be a list of names that you have put together yourself or bought from a third party, referrals from friends or colleagues, inbound inquiries, or people at the initial stage of a cold call or email.
The trick is figuring out which leads fit the model of your business customer profile and the ones that are worth spending more time developing. To progress a lead to the prospect stage conversations need to take place between them and you to qualify the lead and see if they are completely uninterested or could be led to a more committed level. The questions used during this conversation will depend on what sort of service your company provides but generally revolve around three key concepts – how easy or difficult it would be for them to transfer to your service, logistical issues around buying cycle time frames, and finally who they currently use and why they are with them – this is going to help narrow down your differences and why you are would be a better suit.
In a nutshell, a prospect is a lead who has been successfully qualified and has shown enthusiasm for building a relationship between both parties. This is an excellent position to be in and it is exciting, but it doesn’t necessarily mean that a sale is close to being made. It can still be a long journey, but it generally means that you and the lead have identified an issue that your service can overcome and a ballpark matching on budget and pricing. Part of the reason it can be a lengthy process is that you may not be speaking to the person who makes the final call on whether they will accept the deal. The process then becomes about finding the right person to talk to and making sure that everyone is happy with the proposal. You also need to be happy that the amount of time and effort required justifies the return.
This is an exciting stage in the sales funnel and when performed successfully will lead to the most rewarding part – closing a sale and turning the prospect into a customer.
There is a saying you have undoubtedly heard many times and the reason it keeps coming up is that it is true : ‘It’s easier and cheaper to keep a customer than get a new one.’
The relationship you have with your customers should never come to an end when the sale has been closed. Acquiring new ones can be a long and costly procedure and it is far easier to sell something to a customer who has bought something from you already. A happy customer is a huge asset to your sales funnel, this is because good reviews and referrals from a happy customer are like gold dust and are a hugely persuasive element when dealing with new prospects. Prospects are far more likely to trust a company if they know their colleagues and competition do also.
Keeping your current clients happy is key to good referrals. You must keep your CRM data accurate and up to date and you should be using it to stay in touch. Some examples of this include newsletters, but make sure to tailor correspondence specifically for the customer to give it a personal touch and also to offer promotions that target their specific needs.
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