Sales funnels are a powerful tool for predicting future revenue and optimizing customer acquisition. With the right metrics, you can calculate the percentage of potential customers that will convert and multiply it by the estimated total size of the offers in the funnel. This will give you a sales forecast. To create a successful sales funnel, we must understand the four phases: knowledge, relationship, sales, and upsell.
In the knowledge stage, your goal is to let people know that you exist. During the relationship phase, you need to build trust and authority so that people feel comfortable buying from you. You also need to decide what buying beliefs are necessary and incorporate them into your sales funnel. In the sales phase, you need to decide what is the best way to make people pay.
You can also use urgency or scarcity to get people to buy. Finally, in the upsell phase, you can make more money by selling additional related products or services to your customers. The top of the funnel (TOFU) corresponds to the awareness phase of a sales funnel. Half of the funnel (MOFU) corresponds to the relationship phase of a sales funnel. The bottom of the funnel (BOFU) corresponds to the sales and additional sales stages of the sales funnel.
Relationship stage consists of all of your free content and live events where people can meet and interact with other business owners and experts. Today, marketing experts have used online sales funnels to grow their businesses and generate leads and sales while they sleep. This part of the funnel aims to redirect potential customers who have exited your funnel and return them to the sales process. Your new sales funnel now includes a lead magnet, an introductory offer, incremental online offers (to take advantage of additional offers) and a main offer. Your main goal with your sales funnel is to move people from one phase to another until they're ready to buy. With a well-designed sales funnel, you can continue to generate new leads and sales while focusing on growing your business, providing excellent service, or updating your products instead of spending all your time marketing. You can get better results through upsells and cross-sells, which are additional ingredients you can add to your sales funnel.
Make an effort to optimize your funnel and make sure that all weak points are fixed so that potential customers reach the end of the funnel ready and eager to make a purchase. The basic section of your funnel is where potential customers go through most of their buyers' journey. Your profits and revenues will be consistent and predictable once you've tested your funnel and made it work. Sales funnels are used to optimize customer acquisition, predict future revenue, build trust and authority with potential customers, install buying beliefs in potential customers, close sales, maximize profits by selling additional products or services, redirect potential customers who have exited your funnel back into the sales process, attract viewers and convert them into consumers, move people from one phase to another until they're ready to buy, generate leads and sales while focusing on growing your business, provide excellent service or updating products instead of spending all your time marketing, get better results through upsells and cross-sells.
