Just exactly what is a Sales Funnel? A simple visualization tool that shows how the sales cycle works for every prospect or sales opportunity. The metaphor of a funnel, wide at the top and narrow at the bottom, helps us to define and monitor the sales process.
At the top of the sales funnel you have prospects that have never heard of your product or service but are theoretically interested, to those at the bottom of the sales funnel who have purchased your product or service.
All prospects can be divided into categories based on where they are in the sales funnel system;
- Potentially Interested – those who were found by the sales person or have responded to a free offer (white papers, informational guide, eBook, or video training series, etc.)
- Informed prospects – those potential clients who know about your product or service and are still are not ready to buy
- Interested prospects- those who are interested in your product or service, but need more time to prepare for the purchase and/or establish a budget..
- Highly Interested prospects – the ones who know everything about your product or service, what they need and when they are going to purchase it.
- Clients – those who have purchased your product or service and/or those who are already buying on regular bases.
How do you get prospects into the top of the funnel? By prospecting. Whether you prospect from you website, social networking or ‘farming’ a geographical area, prospecting in and of itself is an ongoing process.
Once a prospect is in your sales funnel, you need to keep in touch with those people even if your are too busy to pick up the phone. You need to start building a relationship of trust with these prospects in order to draw them through the sales funnel from prospect to client.
You’ve heard the saying – “People do business with people they know and trust” – the goal of sales funnel marketing is all about building trust.
So, how do you build trust? Stay tuned… I invite you to subscribe to this blog and I promise to provide you with more information on the sales funnel in the coming days. Also, if you have any questions or concerns, feel free to add a comment below.
The second article in this series – The Sales Funnel; Just exactly What is a Prospect