Unlock the power of the stages sales funnel for export

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hi guys today in this video we will understand what is sales funnel why it is needed and how it works first of all what funnel means it is a tool used to put something from broader vessel to narrow it down to very small opening so that it goes smoothly inside the vessel with narrow opening when we are talking of sales or marketing we are using this tool to acquire and retain customers you should not get confused and think sales funnel and marketing funnel as two different processes as they are the same and used interchangeably because the marketing and sales are the two sides of the same coin that is customers and that's why it is very important that sales and marketing work together in congenial atmosphere to exchange information and ideas to achieve their goals each one has a well-defined role as marketing creates full and put their efforts at the top and middle of the funnel to generate traffic for conversion and first they are near to conversion it shifts more towards sales to create enough push to generate sales and convert to customers at bottom of the funnel when we talk of sales funnel it is a process by which we filter our customers it is a very practical way to reach to our customers by moving one step to other and achieving our goals to build our customer base we can also say that it is a marketing system by which we sell our products and services in a methodical way sales process is also known as sales funnel because this helps in converting a lead to become a customer through series of marketing steps these steps create awareness trust and engagement in turn Bridging the Gap between a prospect to customer as we all know that our sales process starts with identifying the target group and by narrowing down this larger group of people by applying certain filters at every step to get customers who actually purchase our product or service now how to build an effective sales funnel to build a sales funnel we must begin with the end in the mind which means we need to develop the detailed plan for achieving our ultimate goals this could be done through detailed planning for different stages of the sales funnel for which we need to understand our TG that is Target group it is like constructing multi-story building for which we require strong foundation and a complete architectural map to gather all resources and utilizing them as per the guidelines given in the map we should also keep in mind that sometimes people skip certain steps and become customers what type of people we get at different stages let us look broadly there could be segmented into five categories people who know that we are present with our products and services people who are interested in our products and services people who use our products and services and people who Advocate our products to others and then comes the loyal customers goal setting for developing sales funnel yes it is very important and goals should be very specific and clear it should be objective rather than subjective and in specific numbers like 20 growth over last year for expanding from 400 to 480 outlets in this financial year so it should be very specific we must decide reasonable timelines so that we accomplish our goals in that time period for finishing particular stage or activity a good sales or marketing funnel will always guide you to filter your prospects for the next stage this involves a lot of activities at all stages for the conversions from leads to customers goals are always Dynamic which means that it will change as per type and size of the business how to develop strong Foundation it is all about customers acquisition and retention why CRM is important CRM that is customer relation management is very important we need to develop a good program for customer relationship management and we can also invest in digitally automating our relationships and to develop and strengthen further by organizing analyzing and getting insights for growing our customer base good crms give us lot of insights on different stages of funnel and keep us updated on the status of our goals this is actually a good investment for a business owner as it helps in understanding where to put resources and focus the activities now let us see the five stages of sales funnel sales funnel always in search of right target audience how to acquire them improve the customer satisfaction and to build long-term relationship sales funnel can't be seen for all the businesses it changes the type size and goals sales funnel has five stages let us see first stage is awareness to create awareness about your product or service in the TG second stage is the lead stage providing information about your products and services third stage is prospecting creating engagement with those who have shown and Trust and then comes the fourth that is customers converting the prospects into business and last stage that is the fifth stage is fans it's creating our customers as our brand ambassadors let us see separately and in detail the first stage that is awareness stage let us see the first awareness stage which is usually first stage of the sales funnel and objective here is to create awareness among the target audience about your product or service there are a lot of ways to create noise about your product or service like using social media TV media radio Media or print media choosing right mix of the media depends on the goals and objectives of the business and also the marketing budgets for creating awareness once we get success in getting noticed we move to next stage that is lead stage where does it leads lead is used for someone who has not yet shown any interest in our products and services from the target group they may or may not know your company product or Services often we get confused in lead and Prospect prospects are people who know about our company products or services at this stage we must put all efforts to educate and inform them with our USPS and why they should choose our choose us over others this is the stage when time should be invested invested in developing trust and educating them that why you are unique they should take your products or services at this stage Our intention is to convert leads into Prospect and we must give enough time to them for firming their opinion to go with us this is the stage when we need to put lot of efforts to understand our leads and providing the right information which helps them in finalizing the bank decision this is the stage to showcase our expertise once they show interest they ask questions and also provide their information they are moving to next stage and that is third stage called prospecting this is a more advanced stage than lead because here they are making up their mind to buy our products or services and showing interest while prospecting in this stage we should understand what refined information or knowledge to be imparted to convert them to customers our conversion is less from these prospects due to many reasons mainly affordability or they might not be the right decision makers for buying the product or service our focused efforts are required to increase the conversion rate all efforts made at this stage brings us further down the funnel that is the customer stage which every business looks for so the fourth stage is the customer stage aha moment this is the moment everyone looks for now you have acquired the customer and it becomes our responsibility to retain the customer by providing our best product and services this is the stage at which we must put our efforts to Delight our customers so that they become our frequent regular and long-term customers this requires efforts to retain them with added benefits which could be like giving discounts offers or gifts the strategy of giving more benefits to our existing customers is called upselling we can do a lot of activities to increase engagement with our customers small activities like wishing them on their birthdays or anniversaries makes a lot of difference in strengthening customer relationship always remember that acquiring new customer is seven times costlier than retaining the existing customers we must intend to convert our customer into our brand ambassadors and that brings us to the lowest bottom stage of the funnel called The Fan stage the fifth stage is the fan stage now they are our brand ambassadors this is the stage when our existing customers become our loyal customers and have lot of trust in our products and services and also the source of recurrent Revenue they become our ambassadors and promote our products to their close ones and Advocate to buy our products and services this is also called warm that is Word of Mouth strategy we must put efforts to keep them delighted by more and more benefits for helping to increase our customer base we should always take their opinions and reviews and adopt them to improve our products or Services these plans can help immensely in our business growth now you know the different stages of sales and marketing funnel it is very important to work on all stages and apply it for Optimum results right from another stage to Fan stage we must prepare our complete blueprint to make it actionable for getting the results hope with this video you are clear about sales or marketing funnel it's five stages how it helps to reach our business goals if this video has added value Please Subscribe like share and comment may God bless you with all you have been Desiring stay tuned and see you soon on salwell soon