When we think about business expansion, the first thing that comes to mind is sales and marketing. How can the company market its products most efficiently? Of course, the answer depends on the case, but what stays unchanged is the sales process mastered over the years. Unfortunately, however, not every entity dives into comprehensive analysis – only 32% tend to do so, according to Pardot.
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These figures aren't doing you any favors – often, companies realize the necessary steps when it's too late. Unfortunately, these mistakes are not easily forgiven in the abruptly changing world under the burden of an ongoing pandemic. Fortunately, there is a way. A sales funnel can identify targets and opportunities before the firm takes action.
What Is A Sales Funnel?
Customers go through certain phases before buying a product. They face a specific problem, search for a solution, identify available options, and then pick the one that answers their personal preferences. These phases are referred to as the customer's journey. A sales funnel allows companies to visualize, predict and optimize the customer's journey: find the right spot to flash the ad, offer the deal tailored to a potential client at the right time, and much more.
Stages of Sales Funnel
The sales funnel consists of three stages: problem discovery & awareness, analysis, and buying decision.
Problem Discovery & Awareness
We constantly face issues, big or small. You might have a broken door handle that requires replacement or a car to fix. A need for solutions unites these problems, no matter the actual complexity. Once the potential customer identifies and accepts the challenge, they become aware of the issue and dive deep into favorite media sources, Google Search, and other tools to get as much information as possible on how to solve it. In other words, they look for an expert that will give them exactly what they need. To gain trust, the company must radiate authority through tailored content. If done right, a potential client will leave their contact details, effectively transforming from a faceless person to an individual with a character or lead.
Assuming the company did everything correctly, we move to the next stage – Analysis. At Analysis, leads found the content credible and now browse through solutions. For example, suppose a car mechanic is looking for a tool. Options vary: some are simple while others are complex, yet all can solve the problem. Thus, the client needs more information to narrow the search and pick a small range of products. Product guides, insights, or case studies work well at this stage. Once the lead makes up their mind alongside a list of finalists, they become a qualified lead and enter the last but most crucial step - buying decision.
A buying decision is a final phase before qualified leads cross a line. They’ve done the research and are well aware of solutions to tackle an issue. Customers will turn to content like FAQ or live demos to come up with a decision. If the sales funnel were insightful and well-rounded, the sale would happen.
Automate Your Sales Funnel
To harvest the best fruit, you can delegate the entire customer’s journey optimization process to sales management software. It’s quick, simple, and cost-effective, often coming with extra features, like sales assistants, deeper customer insights, etc.
Sales Management Tools
PipeDrive is a comprehensive platform that lets SMBs improve their sales through process optimization. The products include a customer guiding feature that provides clients with more tailored information regarding the offering and insights that allow SMBs to learn more about their potential customers before they become leads. . The platform offers businesses the ability to create a website, an app, an appointment setting tool, and a sales process automation. It also has several additional features that include an analytics dashboard, an FAQ page management system, contacts management, leads nurturing, and campaign creation.
GetResponse is a sales management software that automates emails, landing pages and transforms an accidental shopper into a dedicated customer. Features include scalable lead generation campaigns and a sales funnel that can be integrated into shops created with e-commerce builders. In addition, GetResponse creates clear, actionable reports that help you make better business decisions based on the numbers. You'll know who's visiting your site, what they're looking at, where they came from, and how much they're worth. This cloud-based software allows users to create automated emails based on customer behavior and segmented lists of new leads. The platform also offers complete A/B testing capabilities, so marketers can test the effectiveness of their campaigns and make necessary tweaks to improve results.
FreshWorks has FreshSales; a sales funnel automation service. It encompasses a great range of essential tools to create a sales funnel: contacts capture, email automation, and inventory management.
Freshworks saves users time with automation, so they can focus on growing their business. It also provides real-time insights which help with planning and decision making. It is already used by thousands of companies worldwide and is an ideal solution for growing companies looking for a cloud-based solution to automate their business.