Biz Tips: How to Build a Sales Funnel to Grow Your Business

Biz Tips: How to Build a Sales Funnel to Grow Your Business

Biz Tip:

How to Build a Sales Funnel to Grow Your Business

A sales funnel optimizes your sales process, attracts new customers, gains a performance boost to turn leads into revenue, and offers the company a chance to expand further into the market. However, despite the client’s journey being a hot topic for years and remaining relevant despite emerging practices and approaches, a staggering number of companies avoid diving deep into its optimization. According to Pardot, only 32% of firms took time to analyze their sales funnels.

Covid-19 pandemic forced many to turn their back on offline operations and come to the internet. To survive in the novel space, a company must provide clients with enough information on its products to educate prospects in an automated manner. The sales funnel does just that.

What Is A Sales Funnel?

Often referred to as a customer’s journey, a sales funnel is a potential client’s purchase actions. For example, in a situation where a person longing for sweets bumps into a candy shop with a fair deal displayed at the entrance and a well-informed sales assistant, they will most likely buy the product. In this case, the customer’s journey consists of a specific problem, a well-timed offer with a comprehensive product description, and action. A combination of all three parts leads to a purchase. If the candy shop didn’t inform a person of its goods correctly, a sweets lover would most likely pass by without noticing the solution. This example is relatively simple but outlines the entire sales process. To get the most value, companies must optimize it accordingly.

A great sales funnel delivers more sales and customers. However, the visualized customer journey is the key to the company’s high performance – the deal has to be at the right place and at the right time.

Sales Funnel Stages

The sales funnel contains three parts in the online world: awareness & discovery, research, and purchase decision.

Awareness & Discovery

People always run into issues. They can range from a minor problem similar to our previous example or something much more significant. No matter the complexity, the process of finding a solution is all about learning and comprehensive research. First, potential clients turn to well-known sources, like their favorite media outlets or Google Search, to see all the information. “Where to buy a green bathtub?” or “How to brush my dog’s hair?” and similar are the common questions people ask to find the product they need. Next, they verbalize the problem and look for an authority that understands their struggles exactly. At this stage, the company must have the content dedicated to a specific problem to build trust. Trust turns people into potential customers or leads.

Research

Leads are now actively researching solutions offered by the company. This is because questions become much more specific. For example, in the Research stage, instead of looking for advice on brushing their dog, potential customers now search for a comb to do the job. To push them further, content such as product guides or insights is necessary. Finally, after several options are chosen, leads turn to the company for final questions. At this stage, they become qualified leads.

Purchase Decision

This stage is a grand finale where customers buy or go elsewhere. They now fully formulated the problem, learned everything they needed, and chose their favorites. This time, they have to pick one final solution based on price or product characteristics. At this stage, customers turn to sources like FAQs, live demos, or product videos. Such content builds confidence and prepares qualified leads for final action.

Here, customers go through negotiation and a sales proposal. If everything was done correctly, the company gets the sale.

Automate Your Sales Funnel

To automate the sales funnel, a company needs sales management software that answers the core business needs. You can find a great range of options online and choose between a comprehensive solution or something more specific. While the latter is great for niche tasks, the former offers more power to business. With comprehensive solutions, such as automated email templates, online sales assistants, or workflow automation, you have control over all three sales funnel stages.

Tools To Automate Your Sales Funnel

1. Pipedrive

Over the years, Pipedrive has been developing an easy-to-use, comprehensive platform to optimize sales aimed at small and middle-sized businesses. In addition, Pipedrive includes tools necessary to guide the customer through decision-making processes and for the company to learn more about its customers before they become qualified leads. For example, the feature Smart Contact Data helps uncover more customer information before deep engagement.

2. Nutshell

Nutshell is a tool that allows you to automate your email campaigns and put your sales on autopilot. The sales funnel is an essential part of any marketing strategy and can be used to create automated processes within your business. With Nutshell, you can create a series of emails that will be sent to your leads based on their behavior as they move through the sales funnel. The Nutshell Sales Funnel supports your sales funnel from top to bottom, and automates the process of turning your website visitors into paying customers. Nutshell is a sales pipeline automation tool that helps you win more deals, faster.

3. Monday

Monday is the new way to plan, track and deliver your team’s best work. Monday.com is the easiest way to bring structure to your planning process so you can use your time more efficiently and focus on what matters most – executing your strategy. Monday.com manages everything in one workspace: projects, tasks, calendar, communication, documents, files, and more. All of these elements are connected to each other and move together as you progress through a project. Map out your sales funnel and manage your entire process in a centralized location.

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