The Ultimate Guide to Creating a Sales Funnel
There are many reasons as to why some decide to start a business, but there is one important element that should be at the forefront of every business owner’s mind, and that’s the bottom line. Regardless of whether your business is unleashing a new piece of technology or is simply offering a service that looks to enrich lives, it’s important that the business can maintain a healthy cash flow.
Although changes can be made in relation to expenditure, it’s the income that is going to keep a business afloat. As such, we need to ensure that a robust sales funnel is put in place.
What Is a Sales Funnel?
There are many buzzwords used in the world of business, and it can be easy to become perplexed as to what they all mean. Fortunately, a sales funnel is an accurate description of the process, as it details the buying process that a customer will go through when making a purchase. A sales funnel can contain several elements, and they won’t necessarily be the same as that of another company. However, the end goal is often the same, which is to win over new customers, and retain existing customers.
When creating a sales funnel, it’s important that the demographics are broken down, as the marketing material may need some tweaking, depending on the type of customer the business is trying to engage with. When dealing with a sales funnel, customer profiles can often be broken down into three categories, which are as follows:
• Potential Leads: A potential lead will be aware of your company, but has not yet engaged.
• Prospects: Prospects will not only be aware of your company, but may have also made some engagement, albeit without making a purchase.
• Customers: As you would expect, these are the people that have made a purchase from your company.
Each one of these segments will take a journey that while different, will employ the use of a sales funnel. The funnel will be made up of various components, each with their own requirements. These are broken down as follows:
For a customer to make a purchase, they need to be aware of the company and its products. There are many methods that can be employed. As well as employing more conventional methods such as cold calling and email marketing, a business can also look towards more advanced technology to create more appeal around the product or services.
The great thing about modern technology such as VR and augmented reality is that it can be used in tandem with more conventional marketing. For example, you could have posted that offer a generic display initially, but combine it with augmented reality to create a sense of wonder and allow people to really immerse themselves in your brand.
Regardless of whether you’re looking to offer real-estate or luxury lodgings, there is much that can be done to bring awareness to your services. Although virtual reality has been on the technology radar for some time, it’s only recently gained traction. This can be attributed to new developments within smartphones, that allows users to embrace virtual reality at a low price-point. This gives business more potential when it comes to raising awareness about their product.
Continued in Part 2 – http://www.onedeadpixel.com/sales-funnel-part-2/