What is a sales funnel and why is it important for you to understand yours?

A sales funnel is how a customer interacts with your business from awareness to purchase. This is the marketing term for how a customer gets to make a purchase from your business.

We like to think of this as the key points of opportunity for you to build a relationship with your potential customers. This is how you convince customers that your brand is the best option for them.

In this post you’ll learn what a sales funnel is, how to find your strengths and weaknesses, and how you can apply it to your business!

Why is this important?

Understanding your sales funnel will help you better understand your customers. You will get a betteer idea of how they interaact with brands, where they interact with your brand and gain insight at each stage of the purchase decision process.

This helps you make better, more informed decisions on where you should be investing your marketing activities and best channels.

You will also be able to improve your messaging to communicate properly to the right people, thus generating better leads!

Let’s walk through the levels of your sales funnel.

The modern sales funnel has five stages: awareness, finability, evaluation, purchase and advocacy.

1. Awareness

This first stage of the sales funnel is called the “awareness” stage because this is where potential customers first learn about your business.

They may learn about you through many different channels, including social media, online search, advertisements or word of mouth.

This is an important stage because your marketing efforts greatly play into this. Are you reaching your audience in the correct way?

2. Findability

Great! You’ve reached your audience and now they know your business exists.

Where else can they find you?

The key here is to show in search when people are using search engines, maps, looking for your product or service through “near me”, GPS or directories.

Make sure you’re easy to find!

3. Evaluation

This stage is where your potential customers are comparing your product or service to your competitors.

The evaluation stage is where you need to ensure your marketing materials are conveying the proper messaging and effectively display your value proposition.

How are you making sure you stand out from your competitors?

4. Purchase

This stage is where your potential customer has decided to make a purchase from your business. How easy is it for them to make a purchase?

Are they making an online purhcase or in-person purchase? Do you offer online booking for your service? 

Make sure this stage is as smooth as possible!

5. Advocacy

Here is where your business can start to build network effects!

Once a customer has made their purchase, their post-purhcase experience begins. It is our job to make sure that their expectations became their experience to ensure they build repurchase intent.

This is also where we stand to convert customers to ambassadors! Customers can now choose if they would like to share their experience, good or bad, with their personal networks online and offline. 

Ready To Generate Your Sales Funnel?

Some things to consider:

Do you have a sales funnel set up for your business?

How are you introducing your business to potential customers?

Where can you improve your customer journey to drive more purchases?

This is a tedious and complex process. That is why we are here to help!

If you’re interested in consulting with one of our experts to help define your sales funnel, develop customeere journeys and track success click the link below.

Let’s Work Together!