Sales Funnel: Understand the concept and how to apply it
Do you know what the sales funnel is? It’s a method, consisting of a series of stages, assisting in the conquest and conversion of visitors to loyal customers. This method has become one of the most powerful weapons of companies who want to improve their performance in the market and make the best decisions at each stage of the customer’s buying journey.
Whether for the marketing for products or services, applying the concept of a sales funnel will represent a great improvement for your brand. You may have already been using some of these strategies, without knowing exactly how they work.
By reading this article, you will have a better understanding on the subject and you will be able to use all the facilities of the sales funnel more effectively. Check it out!
What is the sales funnel?
First of all, it is fundamental to understand what this method consists of. The sales funnel is a strategic series of actions that show the customer’s buying journey. This concept makes the company have full knowledge of the relationship with that consumer from the first contact with him until the closing of the business. The objective is to offer a support during the whole shopping journey of the consumer.
As its name says, the sales funnel is represented by a funnel – or inverted triangle, divided in stages, the first being the largest and the last the smallest. The largest part of the funnel is known as the Funnel Principle (ToFu, by its English abbreviation of Top of Funnel). Then, the client goes to the Funnel Medium (MoFu – Middle of the Funnel) to finally reach the End of the Funnel (BoFu – Bottom of the Funnel).
We will explain how each of these segmentations works:
Top of the Funnel
In this stage, the first contact or relationship of the brand and with the visitor is established. During this phase, the future client discovers that he has a need, a problem to be solved or finds an opportunity that attracts him. In other words, this is the time to educate the visitor. How to do it? Offering relevant materials, with issues that are related to the interest of the public – and above all, to present remedy for their concerns.
One recommendation is to produce rich materials – such as eBooks and infographics. You can make these contents available to the public for downloading by filling out a form first. This will allow you to get a little more relevant information about your prospect. Name, email and profession are some of the fields that you can use in the form. It is important that you think about what type of information is relevant to your company.
By doing this, the visitor shows that he has an interest in what your company is offering him. In this way, it will be easier to make this person advance through the sales funnel.
Middle of the Funnel
In this stage you have already aroused the interest of your lead and he/she already has knowledge on the subject. This means that the lead recognizes that there is something to be solved – a problem or an opportunity, as quoted above. So, you’re looking to solve that.
The Middle of the Funnel is the stage in which the visitor becomes a lead. It is important for the company to select the qualified leads. It is important to analyze whether it has the ideal customer profile for your company and is willing to invest in your product or service.
At this stage of the sales funnel the company’s goal is to create a sense of urgency in order for the lead to effectively resolve what bothers you. Of course, it is necessary to respect the search time of this prospect, however, it is essential to assist and support to expedite the process.
The company must understand that in the middle of the funnel the goal is to build trust with the lead. Mature and qualify the relationship between your leads instead of trying to sell a solution in a “forced” way. Here, show subtly that your solution is the best, but more generally, without turning your attention to your business – the focus should be on how this will help the prospect. This will make you ready for the next stage.
Bottom of the Funnel
The Bottom of the Funnel is the stage where there will be a smaller number of people, but, the most qualified ones for your company. This is the moment when the lead makes a decision of purchase. Here, the prospects are practically ready to be approached by the sales team. In the end, they are no longer customers with problems or customers who are interested in some opportunities, but they are customers who are ready to find a solution.
The terms that define the Bottom of the Funnel materials are: persuasion and convincing. It’s time to make it clear about all the advantages the lead will get by becoming a customer of your company! How? Through data, graphics, testimonials from satisfied customers, success stories, among others. You must show that you are the ideal solution to their problem.
The sales funnel ends when the prospect makes the purchase and becomes a customer.
Sales funnel: the conversion of visitors into customers
In summary, the sales funnel has the function of to converting visitors into customers in an organized way.
These conversions are made through the production of rich materials that educate and add value to your audience. In addition, it is also important to offer and guarantee good support and service to visitors, leads and customers. Only then, it will be possible to establish a good relationship with them.
After the conversion of leads into clients, it is the responsibility of the company to know how to strengthen and optimize the relationship with the consumer. It is worth noting that maintaining a client is cheaper than buying a new one. That is why it is so important for the company know how to do this.
Are you ready to implement your sales funnel?
A company with a well-structured sales funnel guarantees better results. Because this strategy also allows managers to evaluate their team’s work and identify the failures that occur when converting visitors into leads and leads into clients.
In conclusion, it is safe to say that, knowing and investing in the sales funnel is fundamental for your company to acquire and retain the customers. Have you already heard about this method? Do you know how to put into practice each of the actions of the funnel? Leave us your comment!