Optimizing your Sales Funnel
A sales funnel is the process a customer goes through when they need to acquire what you are selling. You shall find certain steps in the sales funnel. These steps are different for different sales model in different companies.
The process has some basic steps to it. It normally starts with an awareness phase, where customers come to learn about the solution on offer. There is then the interest phase, where customers try to find more info on this solution. The evaluation phase shall then be where the customer looks at what alternatives are in the market before opting to buy. You shall then see the purchase phase. There shall then be the renewal phase, where the customer needs to buy the product again. You may see them do another purchase, or they can go elsewhere.
Sales funnels allow for leads to turn into customers. You need to have your sales funnel well managed so that it does not develop blocks in its flow. Sales funnel management is a system by which you take time to look at the market, and your sales processes, to know where to get quality prospects that shall turn into customers. When the sales funnel is managed well, you shall see a steady supply of prospects, and minimal costs by the business. You shall thus manage to reduce the time wasted on prospects who will not end up making the purchase. You will also see a structured approach, where you can quantify certain factors that lead to better decision making.
It helps to also end up with a simple and effective sales funnel. Make sure you do not have one that is too short or one that it unnecessarily complicated. These are what make for a tougher flow of prospects in the process. You shall, therefore, need to eliminate all redundant elements in it. You need your customers to always have a straight line through the process. Any deviation from that line shall lead to you losing them. Where you see any backward movement, you need to make it short, and it needs to resume the expected progression. You do not need one that shall take too long to get back to normal progress, since that shall be a waste of time and resources.
You should also find ways to increase the performance of the sale funnel. When you start looking for ways to make it more productive, it shall produce better results than before. You need to then see all the steps intact. Where you start to cut corners and remove some steps usually leads to fewer prospects. You need to approach the elimination of redundancies carefully.
These factors demonstrate the importance of the sales funnel to the success of your business. You shall see more about sales funnels through the Utilize Your Business link. You shall also see more here.