There is an entirely new world available for growing your margins if only you have the skills and the tools required to maximize on the visitors who check out your site. Enter the sales funnel. Also called a purchase funnel, it is a visual representation of a user’s journey to becoming a paying customer. The sales funnel depicts the sales process right from awareness to responding positively to your Call To Action CTA strategies.
The funnel illustrates that every sale starts with a large number of leads and ends with a fewer number of customers who purchase any of your products or services. It is uniquely different for every company, but it can be broken down into the following phases.
- Awareness: – This phase has the biggest number of leads. The users each have a determined problem that arrived at your site by searching for a solution mainly due to your content marketing activities, social media and search engine marketing, email campaigns, SEO, et al.
- Interest: – This phase has lesser users than the awareness phase, but it has a higher chance of a sales conversion. The interested users in this phase engage you, mostly to request for additional information such as price, quality, ask questions, et al.
- Decision: – once the user has all the information they require about your products or services, they proceed with the decision making process. This phase calls for you to entice the user with sales offers as they ponder the information of different options you have to offer to get their commitment to making a purchase.
- Action: – Here the user is ready to make a purchase and its where your call-to-action strategies matter most to make them a customer.
The role of marketing is rapidly changing, and customers may enter the sales funnel nearer to the bottom than in previous years. So, do you need a sales funnel for your site? Here are reasons why you do need one.
Gain More Subscribers
If you cannot make a sale, make a subscriber. With a sales funnel, you will be in a position to add more subscribers to your newsletter and more people to view your content, which enhances your conversion rate and eventually, your sales margins.
Plan for Inventory
There is nothing worse than lacking sufficient stock. With a sales funnel, you will be able to plan for how much inventory you require. This is true since numbers matter, and with each phase of the sales funnel, you can quantify the number of prospective leads and be able to plan accordingly.
A sales funnel gives you the capability of knowing which of your products or services do not sell and you can structure them accordingly. It is a necessary tool to also improving your unique sales proposition.
Here is a website that lists sales funnels you can use.