Entering the market isn’t painless for a young business. Startups face lots of hurdles, which may be overcome if a company can develop the right strategy to keep it adrift. One of the most powerful tools for building this strategy is understanding and managing the sales funnel.
Sales funnel is a cornerstone of all sales processes. Thus, building it should be one of the top priorities for any startup.
In this post, we want to cover: what a sales funnel is; its importance; stages of a sales funnel; and how to build a successful sales funnel.
What is a marketing sales funnel?
In this section, we will define the marketing sales funnel and explain how it works.
The importance of a sales funnel
This part of the post will dwell on why startups should use the marketing sales funnel to grow their business. In particular, we will cover 6 reasons. A sales funnel:
- Simplifies a customer journey.
- Helps you define the right marketing strategy.
- Helps you stay connected with clients.
- Allows you to improve your way of growing business.
- Brings you more sales.
- Gives you a competitive advantage.
Stages of a sales funnel
In this section, we will look at the four phases of a sales funnel and the strategy startups should use at each phase to gradually move their prospects to conversion:
This is the first stage of a sales funnel when your prospects become aware of your business and the product or service you offer. Your leads either contact you themselves, or you reach out to them after conducting an email search.
The main goal is to catch their attention and stay memorable in their mind. Even if they don’t buy right away, you may tempt them to get back to your website and learn more about your brand later.
At this stage, prospects are doing their research. Even though they might be interested in your product or service, they are still looking for alternative solutions. You need to ensure you have the content that will position you as an authoritative figure in your industry and be helpful to your customers.
At this point, the customer is ready to buy, so this is the right moment to make an irresistible offer. You should understand your competitive advantage and demonstrate it to your client.
This is the conversion stage when your customer finally buys your product. Now you have a chance to increase your purchases with the same client by getting them to return. That is why you should show that your brand indeed cares about its customers.
How to build a successful sales funnel
In the final part of the post, we will provide a list of some working tips on how to build a sales funnel that will bring conversions. In particular:
Step 1: Analyze your audience
You are not selling to everybody. Have your ideal customer profile in mind to understand your prospects’ needs, pain points, and buyer behavior. Only then you can start your lead email search.
Step 2: Be eye-catching
Make sure your content is relevant to your audience and hooks their attention. Remember about personalization.
Step 3: Nurture your leads
Demonstrate how your product or service can benefit your audience without being salesy. Create an email drip campaign to make marketing to your leads gradual and smooth.
Step 4: Keep in touch
Remember to nurture your existing clients. Continue reaching out to them after they’ve made a purchase by sending them appealing offers, engaging them in referral programs, and so on.