Hello you wonderful people of the world and welcome to our first official blog post of 2019.
With the New Year in full swing and well underway, we thought it vital to start off the year with an insightful post that delivers on value. Thus the “What Is a Sales Funnel?” blog was born.
So what exactly are you going to get out of this, what are you going to walk away with after reading this? Let’s break it down for you:
- Ideally, the key takeaway will be that you look after & nurture each phase of the sales funnel. (no one likes to be left out after all)
- A clear understanding of all the phases in the Sales Funnel.
- That each part of the Sales Funnel requires its own strategy.
- Each part of the Sales Funnel is measured differently
Cool, now that you know what you should – hopefully – walk away with, we can now get cracking with all the deets.
What Is A Sales Funnel?
Here’s a quick little example in real life, using a motor car (who says that?):
Right, so you have come to the realisation that you need a new motor car/ motor vehicle/ car/ new set of wheels. You are AWARE of this fact but perhaps you just aren’t sure of what car at this point. Of course the natural thing for you to do is head on over to your laptop or mobile device and do a search for a car… *type ‘I need a car’*…..*click search*
BOOM! Oooh so many choices for you to CONSIDER, how on earth will you ever decide what is the best option for you?
With a little bit of persuasion of course, because it just so happens that the dealership just down the road from you has a fantastic deal going on at the moment. Conveniently close, affordable, plus it’s the car of your dreams, it’s an easy sale. Yup, CONVERSION.
Then we get lil’ old RETENTION which sometimes can go unnoticed but should definitely NOT be ignored. Pretty much what it comes down to is the type of service offered during and after the sale. Were they helpful? Was it good service or bad? Ultimately the decision lies with the person as to whether they would then use that dealership again in the future.
So now that you have your dream car scenario – a little imagination goes a long way – let’s take a drive through the Sales Funnel, making a few pit stops to better understand each phase.
The Phases of the Sales Funnel
AWARENESS – CONSIDERATION – CONVERSION – RETENTION
- A potential lead enters the Sales Funnel the moment they become aware of a brand that has the potential to provide the best service or product according to your needs. The awareness stage is when you capture the largest amount of potential clients.
- Measured based on strategy.
- Common goals for awareness amount to the number of Unique Views, Video Views, the amount of time and ad was viewed.
If people aren’t aware of you, they won’t research you. It’s as simple as that.
- Are you looking for new or used cars? A particular type of brand or dealership?
- At this stage, you have not made the decision yet.
- Ultimately, this is the research stage.
- Common platforms utilised are Google Search and certain forms of Remarketing (to engage with existing database).
- Measurement: Enquiries, clicks to website for more info – again, dependant on strategy – engagement on posts, social shares.
It’s important to nurture your leads all the way down the Sales Funnel, so that you are able to re-engage with them in the Conversion stage.
- The hook, line and sinker AKA where the magic happens…SALES.
- Can use all of the above mentioned platforms.
- Might use remarketing or a special campaign featuring deals.
- The aim is to keep top of mind, Brand campaigns are always included.
- AGAIN, this phase of the funnel should NOT be ignored.
- Measurement: Leads, sales, ROI etc.
As the saying goes… “ It’s cheaper to keep a client than to acquire a new one.”
So to conclude, basically let’s put it like this…
You want to run for president – cool, good luck – BUT if people do not know that you even exist, well how the heck are you going to be in the running, let alone get votes?
Now hopefully you know what a Sales Funnel is and why it is important – hopefully – or we’ve inspired you to run for president, or just run? (that’s a no from me).
Till next time.
Need help with one of the Sales Funnel phases, book a consult & let’s get chatting! ~ Chantelle – firstname.lastname@example.org