Why Use Sales Funnels?
Anyone with an online presence can use sales funnels to convert website visitors into paying customers.
The primary goal with your sales funnel is to move people from one stage to another until they are ready to purchase.
From the first time a new your prospect hears about you until the moment they buy, they pass through different stages of your sales funnel. This journey might differ from one prospect to the next depending on your buying personas, your niche and the types of products and services you sell.
Most prospects won’t buy your service at first glance. Also, the number of customers who ultimately make a purchase will be comparatively much smaller to the number of buyers who showed interest. While some may show interest, and make a purchase with time, others may simply not go beyond the awareness stage. You need to devise a way of identifying and discovering the prospects who are willing to become customers. This is where a sales funnel comes into the picture.
What is a sales funnel?
A sales funnel (customer funnel or purchasing funnel) is a visual representation of the multi-steps required to sell your products or services. It illustrates the theoretical customer journey towards the purchasing a product from awareness to action. A sales funnel reveals the number of prospects you should expect at each stage of a sales process and the conversion rates for each stage.
Benefits of a Sales Funnel to your Business
Increases Traffic Generation
One of the advantages of a sales funnel is that it acquires new leads from different sources and generate traffic to your landing page. A sales funnel contains all the necessary messages to convince prospective customers to your website.
Increases Conversion Rates
A sales funnel acts like a laid out path that visitors to your web page can follow. This can help increase your conversion rates because it allows you to cater to potential buyers at every stage of the sales process. The idea is that the number of prospective buyers increases as the sales process moves down the sales funnel. Thus, non-targeted prospects are filtered out, and you are allowed to focus more on the people that are more committed to purchasing your products.
Increases Sales Revenue
By increasing your conversion rates, a sales funnel will cause an increase in your sales revenue.
Helps Predict Sales Volume
A sales funnel provides you with detailed data for each sales stage that can help you forecast the percentage of visitors to your website who will buy your products in the nearest future.
Helps Decision Making
With the data that a sales funnel provides, you will be able to identify the products/services that do not sell. This will help you in deciding whether to modify such products/services to improve sales, or remove them out completely to minimize costs.