Empower your Retail Trade business with a Sales Funnel for Retail Trade

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Lena and I I'm the race today we are going to talk about sales funnels now there's been a few questions in the group and this episode actually came from Belinda asking the questions tell me more about sales funnels so I'm gonna go through in this episode a little bit about what a sales funnel is and what it looks like for a retail store and I know that there have already been some questions in the bringing business to retail Facebook group so if you want to pop those in there once I go through what a sales funnel looks like for a retail store then we'll hop into the chat and I'll try and address your questions now what does a sales funnel actually look like for a retail store well every retailer would love to have more customers coming into this door whether you know whether it's online or it's in finished shots front and this business owners we spend a lot of time and a lot of money obsessing over the best ways to attract these customers yeah and if you hear people talking about sales funnels and customer life cycles they go hand in hand yeah this is a this is big speak this is what you know in a lot of businesses we talk about in every business you have a sales funnel and a customer lifecycle and if you're feeling a little bit out of your depth with the whole sales funnel and customer lifecycle today I'm going to break down exactly what they are so that you can master your store's sales funnel and attract more customers now I even have some props today if you're watching the live their live video so what is a sales funnel well okay traditionally they look like for this okay you have a lot of people coming in the top and then these people were right down the bottom other people who actually purchase so potential customers I have terrible handwriting and sales or what's often termed in business as a conversion so if you hear those words a conversion just means for sale okay so in textbook speak there are five steps that a person has to well I like to call them steps that you walk up okay there's five steps that a potential customer has to walk up to get them closer to purchasing from you so I'm going to get rid of this funnel because I find it is really hard for some people to visualize and let's talk about steps now I can't draw okay so this is the front door of your shop or your ecommerce store okay now you've got to climb the customer has to climb these stairs towards a sale which is your end point now the first step is in business speak it's called awareness I'm just gonna write that down awareness and this is Paris part and it's the one that you probably spend the most money on it's making people aware that your store even exists and you do this through your advertising and your marketing campaigns and even your store signage if you've got a shop front now once they've taken up this first step to awareness then you need to move them up the next step one more step closer and get them up to step two which is interest terrible handwriting sorry so whilst you've made it just let's do an example right think about being on a bus and all the stores that you drive past and when you're looking out the window now you might be aware of dozens of those stores in just that one bus trip but you're not interested in every single one are you because they don't have what you're looking for or you there's something that you would never ever buy so whilst you made it to step one for those people for though all of those stores that you travel past on your bus trip you're not going to climb to step two which is interest for the vast majority of those stores now this making sense now interest is created in many ways it could be as easy as an attractive store window and just a few other simple ways to you know to create awareness and interest so interest is you're using your blog to write some great articles and you have having great images on your website so a certain number of people will be aware of your and then they will move up to being interested in finding out more about what you have to sell so those people will step up to step number three which in the traditional sales funnel speak is called consideration now in retailer speak I like to say this is where they start looking around they'll start clicking on categories in your webstore or if you've got a shop front this is the point where they start browsing so they've they've made it to like the front door you know that's the great part once you get to the interest they've made it to like the front door this should probably have been like a cash register rather than a door that's probably better a better understanding of what we're trying to get to so at this stage they still don't know if they're going to be buying anything yet once they've browsed or considered I think we call this one browse then they move up to step four which is evaluation and this is the point like this is so close and you will see me it's you know if you if you've got a website you'll see it in the people who start to drop off once they get you to this point and if you've got an online if you've got a shop front you'll see it where people start to pick up things and that's a step four so evaluation is where your PIN their customer is picking up things they're looking at them they might be smelling them and might be touching them or if you've got an online store this is the part where they start clicking on individual products and they'll be reading the descriptions and looking at all the images and trying to work out in their head if this is a product that they need to buy so they're really close at this point and often this is where a lot of people fall off this is where you've got them interested but you can't move them to step five this is a really steep one which is the sale so they're closing and at that fifth step the highest step it is the smallest part of that typical funnel right it takes a lot of effort to I'm up these stairs to get through to the sale and the sale is when they finally go through the checkout whether it's online or in-store so am I making sense we've got five steps we've got to make them aware of your store and then we have to get them interested in your product and then you have to get them to browse this one here is step three you know if you've got a good site or if you've got a nicely laid out store yeah this is the part that sort of sucks them in and then they start thinking about whether they need this product and then they move through to the sale but there's also a sixth step which is you know people often forget it but it's the returning customer but that's a whole different episode I think I'll have to dig into step number six in another episode so can you see now how each step that you have to move up you're going to lose people along the way so in in that traditional funnel you have lots of people coming in but only a few sales or in my example with the steps you have lots of people but each step you have to go up is like all different hurdle and the people who make it to the top are going to be less than the people at the bottom and if we're talking about online stores because Belinda was talking about an online store I want you to remember that a good conversion rate online is about two percent but that still means that 98 out of 100 people who hit your website are not going to buy from you so that's 98 people that you have to be either sticking in the top or getting to this bottom step to get to people to the sale so you need to have a lot of people coming in now now that you've got a better understanding of how a sales funnel works you'll hopefully be able to analyze at what point in those steps your potential customers are dropping off and work out how many people you need coming into that funnel to make a sale now if you'd like to get some more personalized assistant on creating sales funnels that get you more sales you might be interested in my boutique rockstars program where you'll get one-on-one support from me every single week to help you build your retail store and you can get some more information on that at Salina night comm forward slash rockstars for now have a fantastic week this episode is brought to you by my new resource the five minute hack to make you a copywriting and ninja if you have an online store then this is for you it will show you exactly how you can update your product descriptions in order to make more sales download it for free at Selena Knight comm forward slash ninja