Every business needs to know their sales funnel, right? Well, what is a sales funnel? Simply put, the imagery is a funnel, but the activity is a sequence of actions you and your potential customers will follow that result in sales revenues. OK, you understand that, but haven’t you done everything already? After all, you’ve got a great product/service, implemented a marketing strategy, you have a website, and you’re advertising on social media. Shouldn’t the sales spicket just start flowing? Unfortunately, no. Building it doesn’t mean they will come – it takes much more than that. So, why do you need to know what your sales funnel is, and how do you identify it? To the first question…say it with me…money, money, money. And to the second question, the how is below. Know that once you know your funnel formula, you will always be able to make a sale money. Identifying your sales funnel is not as complicated as you might think. Yes, you may have to step into your potential customer’s shoes but dissecting the selling sequence is much easier than you realize, and, at the end of the challenge, you will have a formula that raises your revenues. Let’s get started. Content contributed by Christine Jaros, Florida SBDC at USF

1. 01
Understanding the situation
02
Building Traffic
Building Traffic
Bringing your audience to your product arena means connecting with
them in a meaningful enough way that they recognize your brand.
Connecting a ‘call to action’ (engaged response) to your touch points, like
a pop-up chat bot, a first-time user discount,
an information video, an estimate calculator, is key to taking them
further in your sales funnel.
03
The Micro-Commitment
The Micro-Commitment
Moving a cold audience towards their first purchase can include signing
up for more information, a newsletter, a webinar, requesting a video,
scheduling an educational event, or asking for an appointment or
customized estimate. These are baby steps towards making the ultimate
purchase. These potential customers are hot leads – they want to buy
from someone, so let it be you.
04
Building Rapport
Building Rapport
Establishing a meaningful relationship means that at this point, it is all
about the customer’s needs. Reinforce how your product’s features and
benefits will give the customer what they want. Explore their reasons for
turning away competitors or moving away from another brand. These pain
points identify where the competition is missing the mark. Fill the gap
with your products strengths.
05
Asking For the Order
Asking For the Order
Don’t fear this step…ask! Recap their purchases, give them their final
purchase total, tell them when they can expect delivery of products or
services, and ask…ask for their commitment, their signature, their credit
card. If they hesitate, ask why and work it out. Having a planned response
for objections is critical.
01
Creating Brand Awareness
Creating Brand Awareness
One of the biggest elements impacting outreach is your messaging.
Critical for success are well-crafted sales pitches, ‘About’ statements,
product/service descriptions, and company profiles. All these pieces
should include your unique selling proposition (USP), what brand benefits
distinguish you from others.
A sales process is a defined set of
steps for a salesperson to move
customers through the sales
funnel, generating sales.
SBDCTampaBay.com
06
Post sales follow up
Post sales follow up
This final step in your sales funnel is often overlooked, however, building
customer loyalty and using positive feedback (reviews) from satisfied
customers results in increased repeat business and new customers.
Engaging a referral or rewards program that gives existing customers value
benefits is money well spent and comes only once you obtain additional
business.
Your sales funnel is the sequence of actions you and your
potential customers will follow that result in sales revenues.
So how do you find the formula that raises your revenues?