The Sales Funnel

A funnel is a simple idea. Pour something in the top, and a steady stream comes out the bottom. Helps you focus that stream to go where you want it.

The sales funnel uses the same concept. Pour potential clients in the top, and you'll get a stream of actual clients out the bottom.

The concept is a little different though. In a regular funnel you get out what you put in. In a sales funnel , potential customers can fall out at any point of the process.

The funny thing is, it doesn't really matter. Not all customers who enter the funnel are worth keeping. Some of them will be terrible customers. Some of them will be great. The secret is in identifying the right ones, so that your output is what you want it to be.

The top of your funnel is filled with potential customers, but not all will become clients. Some may not have enough money for what you sell. Some may not be interested. Some may not be interested yet. these potential customers will fall out of the funnel, leaving you with a group of qualified prospects.

It is important to not let go of those who fall out though. The ones without enough money may soon have enough. Others may eventually become interested in what you're selling, depending on how you market to them. You should know who they are, and you should learn how to market to them. Maybe they need regular follow-ups to see how they have changed, and you can get them into your pool of qualified prospects.

A qualified prospect is gold. Someone who is interested in your product and has the money to buy it is the dream of every salesperson. All you have to do is to convert them from a prospect to a sale.

That’s all you have to do, right? Easy enough, except this is the most difficult part of the process. You have to convince them to give you money. Now you’re stepping them down the funnel, which varies depending on your market. You may need to provide them with content - a typical B2B buyer needs to see anything from 7-12 pieces of content about a product before they make a purchase. It may take time and evidence to convince them to use their precious budget. They may have multiple stakeholders to convince.

Each of these steps might be one more step down the funnel. Every step in your funnel should be regularly checked. You need to know if it is doing its job, or if it has changed for some reason.

Only by knowing how your funnel is working will you know where to put in an effort to make it better. More prospects? More content? More conversions?

Only the data will tell you what you need to know.

This article was written by Steve West, the Power Copywriter. Steve works with marketing managers in the electric power generation industry. He helps create long-form content to establish thought leadership, generate leads, and accelerate the sales cycle. You can find Steve online at powercopywriter.com, or call him at 972-521-7456 to discuss your marketing needs.