Necessary to the success of most internet businesses, but especially those who sell products, in the sales funnel concept and so it’s important for you to understand sales funnel fundamentals. Many of the high income internet marketers have established a niche market by establishing a fine tuned sales funnel process, which guides visitors through a marketing and sales channel that has been optimized, and of course tested.
The Basic Structure of a Sales Funnel
The sales funnel starts with seizing the awareness of potential customers. Some visitors are persuaded to become paying customers, who buy an entry level product, indicating that they have a desire for what you offer for sale on your site, and are therefore willing to spend money to resolve their problem. The sales funnel will keep on nurturing the best customers, eliminating those who are a mismatch, and continuing to refine the targeted customer, by offering them more specific products and/or services that cost more than the initial purchase.
By the time you reach the end of the sales funnel you will recognize the customers that are very responsive, purchasing everything you offer them, while at the same time enjoying maximum satisfaction from those purchases.
Start By Describing Your Method of Lead Generation
When you are trying to sell your goods/services what do you do initially to reach your potential customers? Do you send out a newsletter? Email them? Pick up the phone and call them? Contact them via Skype or MSN? Use social media?
Your Sales Process and the Steps a Customer Takes
Beginning with the method you use for lead generation, then start going through each step in your sales process, right through to the sale’s close.
Review Each Step in the Sales Process
Once you have your steps in place you should review each of those steps and ensure they are in the proper order.
Build Your Sales Funnel
Once you have confirmed your sales steps, you need to insert them in your sales funnel starting with your lead generation, and ending with the sale’s close.
Define Metrics for your Sales Funnel
Once your sales funnel is established you need to define metrics so that you can measure how your potential sales are lost during each of the sales funnel sections. This helps to identify each of your sales process parts that are in need of being changed to increase your lead conversion rate.
When you have started to capture your sales data you can start to analyze your performance and determine which part of your sales funnel should be improved.
Refinement of the Sales Process
After your analysis is complete you will be able to decide where your sales process requires improvements, and decide which methods to use to improve specific sections and then finally implementing your desired improvements.