5 Steps to building your first Sales Funnel
What is a sales funnel? – The sales funnel can rightly be called as the process or the sales strategy which aids the salesperson to successfully glide through a sale. It comes with several steps or ideologies that can be implemented by the salesperson to succeed in his sales process and make contacts with as many satisfied customers as possible.
Considering the shape of the funnel, let us take the progress from the wider top to the narrower nozzle. Keeping the comparisons on par with the funnel, the wider part marks the beginning of the sales where the opportunities begin to pour in and the narrower end collects the success records of the sale. To trace from the wider part to the narrower end, five steps can be considered to build a sales funnel for any business.
Step 1: Attract the customer – In this step, the sales process of any given business should have a striking and an attractive informatory source as well as products to pull in the customers who are in look for one such product. Say for example, if the business in consideration has a website, they must prepare and get the website ready in such a way that, just with a few second glance on the page, the customer should be intrigued to look for more. The product should please the customer and the salesperson should have a distinct ability to the grasp the customer’s attention. This step being on the wider end of the funnel structure, thus brings in a lot of customers with various ideas and techniques.
Step 2: Expand the choices – Now that the customers are here, the next step is to give them options amongst the various available products. This is where the sales person must be smart. Giving an option to the customer doesn’t simply mean giving them an insight of all the available product. The smartness here lies in taking the customer to the product which when sold will benefit both the customer and the sales person and this is where the salesperson gets to implement his sales strategy. For example, if the product that the customer is looking for is a furniture, a couch to be precise, then the salesperson can give the customer an offer on a different product which has a few additional features and would fetch some additional sales value to the seller. But most importantly, it is necessary that the customer satisfaction is constantly maintained.
Step 3: Offers to satisfy – Once the customer has successfully selected the product, next comes the most important part of the sales – pricing. From the customer’s side, there is always going to be some attempts to negotiate the actual quoted price. Sometimes, their range might be too low when compared to the price that the salesperson wishes to negotiate. This is also another place where the implementation of the sales strategy comes to place. Obviously, the person selling the product should set the price in a range to see at least a minimum level of profit. At the same time, he should always keep up to maintain the customer’s satisfaction. In that case, the salesperson can waiver a little bit of the price in a level to maintain both his profit side as well as the customer satisfaction.
There can also be certain cases where the customer might not agree to even the lowest level of profit and so in such cases, it is okay to let go of the customer because at present they might not be able to meet the product’s cost but someday, there are chances that they might come back. So that is again a part of the sale’s process and strategy.
Step 4: Be ready for service – The rapport between the customer and the salesperson should not end when the sales of the product is being done. There might be products which may need some services in between and the customer may need some help to deal with certain products in certain levels and the salesperson should always be able to equip himself in a way that he can help the customer whenever there is a need for something related to the product. This is a part of the sales process where customer satisfaction is highly maintained.
Step 5: Maintain the customer rapport – Like explained in the previous step, the customer should always be in a position to readily be able to reach out to the sales person when there is a need for it and this is not only related to the sold product, but the rapport should be in such a way that the customer overlooks all the other market competitions and directly reach out to the particular sales person when in need of a new product. The sales strategy is to hold on the customer for as long as possible and to expand the contacts through their networks.
The above mentioned five steps can rightly be considered as the five key points in any product’s sales funnel. From gathering as many customers as possible, the key strategy throughout the sales process is to maintain and keep hold of the deals with as many loyal customers as possible and that explains the sales funnel.