Sales conversion funnel is the secret to understanding a customers buying behaviour.
Do you ever wonder why your conversion rate never equals your effort?
Do you desire to increase traffic, build audience lists, or convert prospects to buyers? All you need is a conversion funnel.
Following the best sales practices or having the right product is not enough to guarantee that you will make sales.
Understanding the different stages in a customer’s journey up to purchase is a major factor in running a successful business.
If you are not familiar with the customer conversion funnel, this article will guide you through the basic concepts of the sales conversion funnel.
WHAT IS SALES CONVERSION FUNNEL
A sales conversion funnel, or customer conversion funnel, is a phrase used to describe the pictorial illustration of the pathway taken by site visitors or prospects to become customers.
It is a strategy to guide site visitors through an online advertisement to becoming leads.
The sales funnel is divided into top, middle, and bottom, to ensure the right advertising strategy is implemented per time, to increase conversions.
A conversion funnel, just like the name depicts, is wide at the top and narrow at the bottom.
Prospects enter at the top and become customers at the bottom of the funnel when they make a purchase.
It is used to create brand awareness, arouse interest, and generate leads and sales.
This process is repeatable in a profitable funnel and leads to the maximum amount of conversions attainable.
STAGES OF SALES CONVERSION FUNNEL
The stages of a sales process is the degree of readiness of a potential buyer to commit to sales.
These are the steps a buyer goes through before making a purchase.
It the probability of a sale taking place.
There are different stages in a conversion funnel, and each stage shows the level of prospects product knowledge and how close they are to making a purchase.
THE AWARENESS PHASE | TOP OF THE FUNNEL
This is the discovery stage. it is the first phase of conversion funnel.
The customers may just have discovered your brand, or are already aware of the brand but never visited your site.
They may spend some time researching your brand.
Your aim at this stage is to create brand awareness; introduce the brand while emphasizing on benefits.
Never mention a competitor’s brand in doing this, rather concentrate on engaging them the value the brand offers.
THE INTEREST /CONSIDERATION STAGE | MIDDLE OF THE FUNNEL
This is the stage where you turn visitors into leads.
They have followed up the lead magnets like signing up for free e-books, email courses, etc. to receive more information on the brand.
Having gotten their email addresses, your goal should be to reinforce relationships, so you need to concentrate on content creation, targeted offers, and follow-up campaigns for definite consumer persona.
Targeting is very crucial here, because they already expect what they want, and are thinking of buying or walking away.
THE DECISION-MAKING STAGE | BOTTOM OF THE FUNNEL
This is the decision-making stage.
The customers have decided to buy, and are checking reviews from other customers.
Retargeting and occasional emotional reminders are highly recommended as this will help keep you on their mind at this stage.
Build trust and desire, this will encourage them to take the final step, which is to buy from you.
CONCLUSION
The sales funnel is a term used to describe the different stages in a buyer’s journey from initial contact to final sale.
It has different stages, and as the prospects travel down the funnel, their number decreases, and the probability of making sales increases.
The aim of the sales conversion funnel is to increase traffic, build audience lists, or convert prospects to buyers.
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