Marketing has seen drastic changes in the past couple of decades. With online advertising taking center stage as the primary way of reaching customers, our understanding of how to best leverage a marketing plan has had to rapidly evolve. The idea of the sales funnel is one of the most promising new concepts behind modern marketing.
What is Sales Funneling?
Sales funneling uses the model of a funnel to evaluate your potential customers and how much value they have to you. The process is predicated on the idea that you initially have an enormous pool of potential prospective customers, but through each step of the sales process, a portion of this group is going to sluice off.
The entire pool of customers is modeled as the top of the funnel, and the customers who will potentially make it through the final step of the sale are modeled by the bottom. Over the course of the sales steps, these numbers taper off.
How Can the Funnel Be Useful?
The funnel allows you to isolate and stratify the various steps of the sales process. Each segment of the funnel signifies a concrete factor in the sales pipeline, from the initial product pitch to delivery and payment.
Loss of customers over the course of these steps is to be expected, but by modeling the transition from one stage to another you can see where problems arise and directly address individual problems in your sales chain. The model of the funnel also allows you to make a rough estimate of how many individuals in a prospective pool of customers you can hope to retain in the sales process.
Automating the Process
The funnel system is useful because it allows you to create a hands-off, predictive model. Many companies are beginning to implement marketing funnel automation. This is a process by which advertisers cater their campaigns to try and retain the largest amount of their prospective customers as possible.
Instead of focusing on the entire campaign as a single entity, an automated campaign will look at perfecting and polishing each step in their funnel process. A talented agency, like 5 Star Brand, can help you immensely with this process, analyzing the branding of your company and coming up with a plan of action that best appeals to your ideal demographics.
