Understanding The Sales Funnel
Generating and nurturing leads is only one part of the overall sales equation. Lead conversion is how your business makes money, and understanding the sales funnel is key to converting leads. While defining the sales funnel may sound complicated, once you break it down step-by-step, it’s an easily-digestible concept.
Let’s take a deep-dive into the sales funnel and how vidREACH can fit into your sales funnel model.
What is a sales funnel?
Essentially, the sales funnel is the customer buying journey. Think of it as a funnel that narrows down potential leads as the customer gets to the final buying stage. Once people visit your site, you will want to them to take certain steps to get to the close.
What are the stages of a sales funnel?
The stages of a sales funnel vary from business to business, but can generally be broken down into awareness, interest, decision, and action. This is a very common model that most accurately and easily explains each step in the process and why that step is important. Let’s break it down a little further.
- Awareness – During the awareness stage, your target audience becomes aware of a pain or problem they have and the need to solve it. For some, the awareness stage of the sales funnel means a target audience becomes aware of a company’s existence and ability to solve the problem or pain. Typically a prospect in this stage is in it for the research. They will visit the site and peruse around before making a decision, so be sure to provide good, educational content on your website that caters to your target audience.
- Interest – Prospects enter the interest stage when they recognize the significance of your ability to solve their problem or pain. Because of the content that you have provided, whether they read a blog you wrote or watched a video you created, they start to look into whether you could be a good fit for them. Prospects in this stage typically want to see a demo of your product or want to get as much information as they can to move them into the decision phase.
- Decision – This is the more active side of the interest phase. The decision stage is where they are contemplating on what step to take next. This stage is where solid, high-quality content comes in handy. If you have done your work on the front end of things, it makes the decision step a little faster on the consumer’s end. While they may be seriously considering you, there is always competition around the corner. You need to make sure that you position your brand as the best option.
- Action – In the action stage, the consumer finally pulls the trigger. Keep in mind, that while brands prefer a purchase, in the sales funnel, the customer walking away is considered an action. Whether the prospect decides to purchase or not, they act in favor of their needs. But if you have built a solid funnel of content, you have a better chance of them choosing in your favor.
How do you build a sales funnel?
Once you understand your customers’ purchasing behaviors, you can start to build and pattern your sales funnel to provide the very best customer experience that leads to purchase. Here are a few things to consider when building your sales funnel.
- Understand your customers’ needs and behaviors so that you can create an ideal customer profile, craft custom calls-to-action, address frequently asked questions, and genuinely engage your customers.
- Enhance prospect interest by providing a better customer experience through the use of educational content at the appropriate stages and steps of the funnel.
- Prioritize customer service to create loyal customers from the start.
How can vidREACH help?
vidREACH is a sales engagement platform that transforms every sales funnel. Here are a few ways that vidREACH can help your sales funnel:
- Video – Record, store, and send personalized videos that anyone in your organization can access to put your message in front of the right audience.
- Analytics – Keep track of who watches your videos and opens your emails. With our analytics software, you can study what works and what does not to better facilitate your process.
- Automated Email – Create branded email campaigns that go engage your target audience with custom content that resonates. Want to include a link to a blog? Done. Want to send a video to a nearly-converted lead? Also done.
- Screen Capture – Record and send a demo of your service to the people that need it, or record a new feature release for customers.
The bottom line is, you can engage and facilitate your sales process with our software in a way that makes it easier and more successful for your company.