What is a Sales Funnel and Why is it Essential for Online Businesses
Would you rather get more conversions and revenue from your website or provide all the information and let your prospects go?
Sales funnels can help you get more conversions, skyrocket your revenue and profits. But how? What are sales funnels and how do they work?
What is a sales funnel? And why is it essential for online businesses?
A sales funnel is aligning your marketing efforts to the journey a customer takes to purchase your product or service. Their journey starts from not knowing who you are, what your brand is, what your products or services are… all the way to becoming a paid customer.
People, on most occasions, take time to purchase. They deliberate for days, weeks, months or sometimes even years. A sales funnel helps you stay in touch with your prospect throughout this journey so that when they are ready to buy they’ll choose you.
This purchase journey consists of three stages – Awareness, Consideration and Decision. A sales funnel aligns to these three stages to get you predictable sales.
Luck and Chance or Scientific Approach? Which do you prefer?
You have two choices when it come to getting sales and conversions. You may choose luck and chance to get you sales or you can take control and use a scientific approach to get predictable sales in a consistent manner.
Some entrepreneurs say they get customers through word-of-mouth or referrals and that’s how their business runs, which is not bad.
But, could a business survive just with referrals forever? Probably not, because they’re dependent on other people to bring in the leads and sales – that’s not very smart, is it?
Using a sales funnel strategically is like a well-oiled machine that brings in sales like clock work. You follow a system, a predictable system.
Why are Sales Funnels Important for a Business?
Sales funnels breaks the purchase process down into stages. At each stage, there are specific activities. If you do these activities, there’s a great chance you’ll get predictable sales.
A sales funnel streamlines your customer acquisition process, increases sales and maximises revenue. It brings predictability to the process which means you’re not leaving your sales and revenue to chance.
And because your sales funnel is a series of steps (process), you can focus on specific steps to optimise them to bring the desired results.