A sales funnel is just a marketing term used to describe the journey a prospective customer goes through on their way to purchase from you. The idea behind establishing a good sales funnel is to attract the right audience to your business so you can grow it. You can offer your prospects little teasers of valuable content so you can position yourself as a knowledgeable resource from the get-go. This enables you to bring them into your world and let them know they can get more of that on a larger scale. If that doesn’t make sense, hang on, we’ll dive further into this. But first, here are some tips and tricks.
What are the stages of a sales funnel?
There are usually 4 stages in a sales funnel:
Stage 1 is Awareness. During this stage, people are made aware of your product, brand, or service. Think of it as introducing them to who you are.
Stage 2 is Interest. During this stage, you’re building interest. Perhaps people have heard about your product, brand, or service…but, they’re thinking about a problem to solve with it, OR they’re doing some competitive research to see if you’ve got the best solution for them.
Stage 3 is Decision. During this stage, people have information, so they’re just going to dive further into your pricing and packages in order to make a decision. Offering up webinars or calls to help them decide in your favor is particularly helpful during this phase.
Stage 4 is Action. During this stage, people either make the purchase or they don’t. If they don’t, throw them in a nurture campaign (see below for more details on that)!
How to create a sales funnel that converts
- Generate Traffic. You want to generate as much targeted traffic as possible.
- Create a Landing Page. Offer up a lead magnet like a downloadable PDF, or a recorded webinar. Consider this something free in exchange for something bigger in your favor in the future.
- Put them in a Nurture Campaign. Whether or not they make a purchase, there is still TONS of benefit to having someone’s email or phone number. An email is always ideal, at the very least, because you can create an email drip nurture campaign where you can continually offer up valuable information that MIGHT at some point turn them into a customer.
Funnel hacking the competitors
Create a list with your competitors on it and see what they are offering. Study their strategies. Join their newsletters. Maybe even purchase from them to see what the overall experience is like. Then you can use all of this insight to adjust your own strategy or offerings based on what you like or don’t like.