There’s a lot of buzz on the internet lately about Sales Funnels. You may be asking, “what is a Sales Funnel?” Sales Funnels may be a new “buzz phrase,” but the concept has been around for years. Quite simply, a sales funnel is the marketing term for the “buyer’s journey” your potential customers go through before purchasing your service or product.
The different stages of the buyer’s journey, also known as a sales funnel, are Awareness, Interest, Decision, and Action. Awareness is when a potential client first learns of your product or service; possibly by clicking on an ad or visiting your website. Interest happens when the customer begins searching for a solution to their problem, maybe following you on social media or signing up for your mailing list. This is when you should capture their attention with great content. At the Decision stage, the customer has made the decision to select your services or product; and finalizing the deal in the Action stage.
Sounds simple, right? Unfortunately, there’s no fool-proof system, which is why continuous management of the sales funnel is important to prevent good leads from slipping through the cracks. Here are the three basic causes of leaks, and how you can avoid losing potential customers:
Don’t give up on the “no’s” too quickly
Most seasoned salespersons understand that a “no” doesn’t always mean “no.” Sometimes a customer doesn’t have the time to implement or money to spend on your solution. Instead of just tossing them away, educate them and ease their anxiety through an automated campaign that specifically addresses their concerns.
Failure to follow up
Did you know that 80% of sales are made between the 5th and 12th contact? Yet, according to Business News Daily, 48% of salespersons never follow up with prospects. That’s too many potential sales lost. To combat this issue, be sure your marketing automated campaign sends out educational messages during all stages of the sales funnel and focus your personal attention on the hottest leads.
Be quicker on the draw
New leads are nine times more likely to convert if you follow up within the first five minutes after they show interest. Seem impossible? Be sure to set up an immediate response within your automated campaign for 24/7 inquiries. Craft personalized emails that will follow each lead throughout the stages in the Sales Funnel and gently nudge them into a sale.
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