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What is a Sales funnel?

Passion and ideas do not guarantee business success. Don’t get me wrong, I am not saying you don’t need passion and ideas to start a business, what I am saying is, these two are not the only things that matter. Don’t start a business simply because you are passionate about it. The bitter truth is, running a business is difficult. If there is anything, it is important to understand the market. You cannot understand the market outside the sales funnel. This is the first step to creating a product or service that appeals to the market. What is a sales funnel? What does it entail?  Read on.

What is a Sales Funnel?

The sales funnel is what business owners use as a guide to understanding the market. It is the compilation of a customer’s journey when he or she wants to patronize or buy from you. 90% of the time before we patronize any business, we like to do our research. For every business owner, it is a painful thing if after pitching, demonstrating, and offering your business for a reasonable and affordable price, you lose the customer. When this happen consistently, it could be an indication that there is a need to adjust your sales funnel.  The sales funnel is divided into four stages:

  • Awareness
  • Interest
  • Decision
  • Action

Among these four stages, the awareness stage has the most number of people, the action stage has the lowest number of people. Here is a brief explanation of these four stages:

Awareness

The first stage of the sales funnel is the awareness stage. It is the stage where people get to know about your business. This could be by reference, random search on the internet, or by your advert. Whichever way people get to know you, what you display and say at the awareness stage plays an important role in determining whether a customert will buy from you. However, it is important to note that not everyone that comes to this awareness stage takes the next step. Some might just be roaming on the internet when they stormed on your product. The next stage after awareness is interest.

Interest

The interest stage is where the people think about the problem they are trying to solve and how your business can help solve the problem. The more they learn about your product, the more they weigh their options. Whether or not the people will move to this stage depends on how well you have constructed your sales funnel. If the sales funnel does not stir the emotion of the reader or intrigue them, there is little or no chance that the customer will come to this stage. 

Decision

If a customer proceeds to this stage, chances are the customer would convert. However, this would depend on the price of your product and whether the customer can afford this at the time. If you play your card well, you can stir the reader to spend more than he or she would be willing to. Webinars, sales pages, customer reviews, and packaging are important to get a customer into making a positive decision.

Action

The goal of every marketer and business owner is to get the customer to this stage. This is where the customer is forced to take action by clicking the order button. It is the end goal of the sales letter. It is what determines whether the sales funnel is successful or not. The action stage determines the growth of the business. 

From all that has been said, the two most important stages every marketer should focus on are awareness and action. This is because most customers don’t get to the end of the sales funnel, what they do is scan through the introductory stage and go to the action stage. Also, ensure the benefits and reviews you mention in the interest and decision stage are mentioned at the end of the sales letter. Notwithstanding every part of the sales letter should be well crafted and properly written. 

If you are a business owner looking for ways to grow your business, start by crafting a good sales letter. Beyond running the sales letter as an ad, ensure you channel this into the right platforms. Some good places to do this are Facebook, Bixex, and LinkedIn. If you are not yet on Bixex, you are missing out.

Download the app on Google or Apple Play Store or on visit www.bixex.com

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