First let’s review what we have learned about the Sales Funnel so far;
A Sales Funnel is 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. The expectation is that a large number of leads will opt in at the top of the funnel, a certain number of your leads will convert into customers and a small but very responsive group will buy from you and refer a steady stream of clients in your direction.
Stage I is all about capturing attention and drawing potential clients (aka leads) into your Sales Funnel. We discussed ways to drive traffic to your website during this stage, and we talked about ways to get these visitors to give you an email address in exchange for valuable content; Informational Guide, eBook, training webinar, a series of training videos, etc.
Stage II focuses on Lead Nurturing; the ‘courtship’ process where you convince your prospects that your business is worth forming a relationship with. This relationship becomes stronger as your clients consume more of your free content, purchase top-end products and learn to trust and appreciate what you do.
Stage III is in the pipeline (or back end) of your Sales Funnel, and this is where your clients become raving fans, purchase big ticket items, or services, and refer prospects to you. The big difference between the top end and the pipeline is about the trust built between you and the prospect. People In the pipeline have already through your top end, sampled your free materials and have enjoyed significant value from what you have to offer, so much so,that they are eager to buy from you.
The main idea behind the sales funnel is to filter prospects to find these raving fans. You don’t have nearly as many people reaching your pipeline as you do entering the top end of the sales funnel. If you are constantly getting prospects to opt-in at your top end, it’s more likely that your pipeline of the Sales Funnel is the core profit center for your business because it is stable and predictable.
If you knew, for example, that for every 100 people that opt-in to your top end – 2 of them will make it all the way through the Sales Funnel to buy your products or services. If your back end efforts convert at certain rates, then you can assume that if you increase your front end efforts, your back end sales with increase.
It may take months, even years, to establish a fully functioning Sales Funnel, however if a Sales Funnel is part of the ‘big picture’, it makes the process of building your business that much easier to understand and visualize.
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