What is a sales funnel and how to create your first one?

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In essence, a sales funnel is a marketing strategy set up to boost sales. The idea behind setting up a sales funnel is to determine what your customer’s specific needs are.

On top of a sales funnel, potential customers exist, at the bottom, committed customers exist. Converting potential customers to committed customers is the company’s job. The sales funnel/revenue funnel channels prospective customers through their buying journey. It helps businesses create high paying customers, which is not an easy task.

The first objective before creating a sales funnel is to figure out what you want your marketing to achieve. Try to build an effective sales funnel that can specifically target the prospects that you require. Your sales funnel goals will vary according to the kind of product or service you provide.

Here are a few steps to help you create your very own sales funnel:

1. Landing page

create a page that pulls your customers in by designing an attractive content-based site that could include a newsletter, a blog subscription or a free guide. It is the first impression that a potential customer will have of the company.

When subscription offers are included you can collect contact data. The user is immediately attracted to websites that are easy to use and are pleasing to the eye. Make sure your website is user-friendly. Offer the user exactly what they might be looking for on the landing page itself.

Less number of pages to go through will only increase the likelihood of the user sticking around and turning into a consumer.

2. Identify your target customers.

Identifying potential customers is one of the first steps. In doing so, you can lead interested visitors into the top of your sales funnel. It can help you identify which customer is qualified as a good prospect.

You need to create a list of questions that qualifies a good prospect. The objective is to identify your ideal customer’s requirements. By targeting every segment in the market, you will only be wasting your budget, since there will be some segments that might not be relevant to your business offerings.

Make sure you have your target audience figured first before you start any marketing efforts. Identifying your target audience will help you design your marketing messages appropriately and increase the chances of generating new leads.

3. Understand your target customer.

Research and understand what your customer requires. You can do this by collecting data about the issues they seek solutions form, the social media channels that they use and their interests.
Qualify your prospects by taking surveys and conducting polls. Start interactions with leads that have entered the sales funnel after you have identified them. Talking to them will give you more insight into their needs and desires.

It is important to know the demographics as well as the psychographics of your target audience. Demographics refer to the more easy-to-identify traits of your customers. These include their age, gender, place of residence etc. Psychographics, on the other hand, is a bit more difficult to identify but are useful in understanding your customers.

Psychographics include things like your target audience’s likes and dislikes, their beliefs, how they spend their time, their hobbies etc.

4. Engage your audience.

You should engage with your leads and help them learn about your services, products, and offers. You can achieve this by creating good content like high-quality blogs and videos. Promoting content on your company’s social media platform will also help you engage with your potential customers.

A customer that feels important will be more likely to stick to your business. Keep engaging with your customers and let them know that they are important to you and your business.

5. Create your sales funnel.

Customer trust you now. They have received benefits like discounts from subscribing on your website and personalized interactions. You can talk about sales at this stage.

You have to continue to interact with your customers while you offer them with benefits at a discount and work your way up to higher sales profits. You can do this by using the sales strategy called upsell and offer your customer with more benefits if he/she upgrades.

It creates a profitable sale for you as it involves a more valuable product or service. In the same way, you can also downsize or offer cheaper options to keep them as potential customers.

6. Keep up the sales.

You need to follow up with all your new customers and leads. This step can keep up your sales and ensure that your customers are satisfied and happy. Providing a membership-based rewards program is an excellent way to remain in contact with your customers.

Your customers can hear from you whenever you have exciting deals and offers and even new products. The key to creating a successful sales funnel is by understanding what your customer needs and by delivering them with the best service/product.

Most sales funnels work well when well-researched sales strategies are put into motion. You have to be able to think backward, from the point you want your customers to land.

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