Did you know there are more than 30 million small businesses throughout the United States? So as a small business owner, you have tons of competition.
How can you make sure your company stands out? One great way is by understanding your sales funnel.
Keep reading to learn more about sales funnel management and how to optimize your funnel.
What’s a Sales Funnel?
Let’s start with the basics. The sales funnel is a concept that maps out a customer’s journey as they make a purchase.
Why is it called a funnel? It’s because lots of people enter at the top but only a small percentage of those will actually make a purchase. And that’s normal.
As people go through the funnel, there’s a higher chance that they’ll become a customer, so your goal is to increase the number of people in every stage of the funnel.
Keep in mind that the four stages of the sales funnel are awareness, interest, decision, and action. We’ll walk through each of them below.
Awareness
This is the top of the funnel. This is where a prospect discovers your product or service. They’ve realized they have a problem and they’re looking for a solution, but the intent level is quite low.
Someone can follow lots of different paths to find your business, including an online advertisement, print ad, or social media post. And that’s just the beginning.
It’s important to find which avenue is the most effective and affordable for your company.
Interest
Next, we get to the interest phase of sales funnel management. Here, people are actively looking for a solution.
Instead of running into your business, they’re putting effort into finding a company to work with. This is the part where a prospect does a specific Google search. Maybe they follow you on social media or subscribes to your email newsletter.
Decision
At this point, a prospect has realized they want to do business with you. But before making their final choice, they want to make sure it’s the right decision.
In this phase, they’ll do more in-depth research about your packages and options, taking a look at price, and trying to find deals that will make it more affordable.
Action
Last but not least, there’s the action phase of the funnel.
Here is where the deal is finalized. They enter their credit card information or sign a contract and money is exchanged.
If you want some help developing your sales funnel, check out ClickFunnels. What is ClickFunnels? Simply put, it’s a funnel builder that helps businesses automate their sales process from start to finish.
Sales Funnel Management: Final Thoughts
Now that you’ve read about the sales funnel, it’s time to work on your sales funnel management. As you optimize your funnel, you’ll be able to make your company more efficient and grow your business’ bottom line.
Want to learn more? Keep browsing our blog for additional tips and tricks.
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