What is a Sales Funnel?

Sales Funnel

What is a Sales Funnel?

Simply put, a sales funnel is the process in which consumers buy products; it is made up of multiple steps to help guide the buyer toward a buying decision. It is what makes potential customers, customers.
These steps can vary, but when it comes to marketing it’s these steps that can be improved or accentuated to increase the effectiveness of the selling, or funneling.

What are these steps? In general, they are…

  1. Awareness
    This is where the buyer becomes aware of the product, or a solution to their situation/need. The customer will be visiting your site for the first time. This is where marketing efforts play a huge role because customers will be interacting with your advertisement or a blog in the awareness step.
  1. Interest
    In the interest phase, potential customers show interest by researching the product and actively looking for a product that will meet their needs. This means expressing interest in your product by browsing your website. The customer may even follow you on social media, or subscribe to your blog or newsletter.
  1. Evaluation
    Many buyers will take their interest a step further by evaluating the effectiveness of your solution/product by comparing it with competitor’s solutions/products.
  1. Decision
    It’s decision time, which means the buyer decides to become your customer. This is when the customer will spend time deciding which package/option to choose, and pay close attention to exactly what you offer.
  1. Action
    The action step is the actual sale. The customer has gone through with the buying process and presses the “place order” button. Money is exchanged in the action step.
  1. Act Again
    Hopefully, the customer is happy with their solution and the entire sales funnel. If so, (and if they need additional solutions to their problems) you can expect your customer to act again.

 

As previously mentioned, these steps will vary depending on the product you sell and the format you use to sell it. Good marketers will have follow-up steps to funnel customers in less conventional scenarios. Good marketers will also have a “smart” funnel that can go after those buyers who didn’t follow through with a purchase.
To make your marketing more successful, you’ll want make sure each funnel step is being marketed properly and customers move on from one step to the next.  Here’s a few tips to do just that!

 

  1. You can improve your awareness phase by taking a close look at how customers become aware of your company. This is where blogging becomes crucial as it will create awareness and interest in the solution you offer. You can optimize your exposure by using key words to attract customers. You can also promote your blog post on social media through promoted posts or having others share them.
  2. Use videos to generate awareness, but also emphasize any step of the sales funnel. You can use videos to educate your customers on products or related topics. You can show them why your product will solve their solution.
  3. Lastly, use social media to generate traffic to your website or blog. Use social media to share your content too! Social media is also a great way to increase interest (sales, promotions) and let your customers evaluate why your solution is the best one for them.
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