Optimize Your Funnel Selling Process for Purchasing with airSlate SignNow

How to create outlook signature

this video will be concerned with what's known as the sales funnel now the sales funnel is a concept that's used to explain the sales process the sales funnel is Illustrated as a funnel where sales opportunities pass through the funnel and go through the different stages of the sales process so we can imagine the the sales processes having different stages and as the sale moves through the various stages it's like going through a funnel until finally it comes to completion at the end with the actual sale itself but prior to that there's a lot that must go on negotiations explanations um discussions on all aspects of the product of course A lot of it is dependent upon the price and the nature of the product or indeed it could be a service but whatever it is there usually is some discussion uh some explanations some reassurances so there are various stages to go through before we get to the end the opportunities do not make it through the sales funnel these are referred to as the Leaky funnel sometimes a sales process May Fail it may fail because the customers have a particular requirement and the product or service does not facilitate that at which point the sale May assist the the opportunity for the sale May assist and that's known as a leaky funnel the sales funnel diagram describes three stages in the sales process so we just have three stages to look at the first one are the leads how do the sales team make contact with the potential customers so what is the mechanism what is the the the channel through which the customers are connected how are the the leads um found and however they worked upon so having leads is important that's the connection between the customer and the seller it's not just having leads but the leads must have prospects they must be realistic chance of a sale it's easy to find leads these Define people Define customers but not all customers may want the product or the service so it's finding the right customers customers who have the prospects of making a sale there's the real Prospect of having a sale at the end of the process and within the the set of people who are prospects only some of those will become customers some will have prospects but later on they may change their minds or they may uh object to some part of the product or of the conditions of the sale so not at all who have prospects will become customers so we can see it as this type of filtering leading from leads which is a a very wide set of potential customers through to the customers who have the prospects of making a sale and out of those to the actual customers who make the sale let's have a few words about leads a lead is someone who is attracted to the sales opportunity however has no knowledge of the company but shows an interest in the product so it's just a general interest it's a a person a potential customer who has no idea about the the company or not much of an idea about the product but has a general interest who may be converted to be a customer so it's a very general very nebulous connection between the person and the product but the person may be converted into a customer there's a possibility and that person is a lead a qualifying lead is someone who meets a certain criteria certain set of criteria and can become a potential buyer for example attracting Target customers are within a particular segment so it's not just picking up in general from the population someone who may be interested in the product whether that person naturally fits into a particular segment then the sales team know what the possibilities are of making the sale so it's a a qualifying lead it's it's some extra knowledge about that person