If you are in any type of business situation in which sales is a major aspect of that business, the sales funnel is a useful tool. In fact, the concepts of the sales funnel is so universal and effective that it can be imported over into other business sectors. Through a thorough understanding of the purpose and procedures of the sales funnel mode, you will be able to point out flaws in your work process and make improvements as necessary.
How does the funnel work?
The sales process works by creating a type of diagram that, when placed vertically, will tend to resemble the shape of a funnel. clickfunnels discount code By reading down through each process in the funnel you will be presented with different aspects of the sales process. The funnel shape is theoretically created due to the fact that each level you go through your potential sales pool will get smaller.
What are the sales funnel levels?
The levels of the typical sales funnel model include; unqualified prospects, initial communication with prospects, first discussion, solution development, solution presentation, customer evaluation, negotiation with customer, verbal agreement, written agreement, delivery and payment. Though this is a typical structure of a sales funnel model, it is not the only way that the sales strategy can be designed as different professions, such as marketing or computer software design, may require different stages.
Why use the sales funnel?
As stated above, the sales funnel should theoretically get gradually as you move through each stage. In a perfect society this would work. However, we do not live in a perfect society and mistakes through the process are often made. Evaluating your sales through a sales strategy can point out where in the process clients are losing interest. Though the interest level will diminish the further into the process you go, this should be a gradual process. By taking a sample of multiple sales over a period of time you will then be able to make correction to your process, thus increasing your chance of sales.
How to use the sales funnel.
It is first necessary to document and categorize the steps in your company’s sales process. Once you are able to categorize this information then you will be able to assign a count to each process. However, even though creating the model is half the battle, you will need to implement the sales funnel into long term use. In order to reap the benefits it would be recommended that you re-evaluate the counts of each process on a monthly basis. Doing so will provide you with the quantitative data you need to be able to notice trends, and make informed decisions, on your sales process.