What Is The Sales and Marketing Funnel?
A funnel is a funnel, the goal is to get stuff into it so that you can get stuff out of it. The keywords that are used to describe the steps in a sales funnel are:
- Suspects (people who don’t yet know about you)
- Prospects (people who are aware of you)
- Customers (people who buy from you)
When you are selling to corporate customers it gets a little more involved because of the size of these organisations. Corporate customers are often many individual business units that operate separately, but under the same brand and the process of selling to these corporates is often called Account Management – you may have one branch or division as a customer and now you want the rest. Our Sales Training Courses include information about how to use relationship and referral marketing to help you achieve your goals.
Your Sales Funnel Can Influence The Value of Your Business
Many small business operators don’t write down specifically who they want as their customers and if you don’t know who or what you want, how are you every going to achieve specific goals? In our Sales Training Courses we’ll show you how when you clearly identify who you want as your customer you can put them all in your funnel and then leave the rest up to how hard you work at it and the power of probability.
If you are selling a product that has huge potential and wide appeal you need to define that appeal and the potential customers as much as you can, these people/companies go into your sales funnel as a known opportunity based on your research and it is commonly considered that there is a 10% probability that they’ll end up in “Closed” business.
The next steps in the sales process are all about identifying a need, building a business case for what you offer, demonstrating how well it works so that all prospects agree that if they had a need that they would choose your product etc. The further down the probability path you travel the more likely you are of closing that sales opportunity and turn goals into reality.
Sales is a Process Not Hard Work
Whether we like it or not sales are the most important thing in EVERY business. Some would go so far that if at lease 50% of the people in your company should be sales focussed to bring in new customers that can then be managed by the support and accounts people. The sales process and learning how to sell is really just about understanding that there are steps you have to go through in order to sell your products and when you know how “it” works it doesn’t just seem like hard work.
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