Sales Funnel

Synopsis

Sales funnel is one of the iron core pillars of digital marketing; and if set-up right, its basic stages: Awareness, Interest, Decision and Action (AIDA) can help convert random internet visitors into loyal customers. Populate our Sales Funnel presentation slides to create a stunning presentation and make your venture an unstoppable marketing win.

Questions and answers

What are the potential challenges in setting up a sales funnel and how to overcome them?

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Setting up a sales funnel can present several challenges. These can include identifying the right audience, creating engaging content, and ensuring a smooth transition through the stages of Awareness, Interest, Decision, and Action (AIDA). Overcoming these challenges often involves a combination of market research to understand your audience, creative strategy for content development, and continuous optimization of the funnel stages based on data and feedback.

How can a sales funnel be measured and evaluated for effectiveness?

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A sales funnel can be measured and evaluated for effectiveness by tracking key metrics at each stage of the funnel. These metrics may include the number of new leads (Awareness), the conversion rate from leads to opportunities (Interest), the win rate of opportunities (Decision), and the value of new customers acquired (Action). Additionally, the overall conversion rate from top to bottom of the funnel, as well as the cost per acquisition, can provide valuable insights into the effectiveness of the sales funnel.

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Slide highlights

This graphic will aid the illustration and future implementation of the digital customer journey. You can use it to identify potential target prospects and draw out monetary and other needs for each sales funnel stage.

This slide is an example of a sales funnel broken down into four basic stages, which can be used to track your company's current sales process and finalize your sales activity.

This slide allows you to impress your audience by presenting actionable plans and solutions, and listing new prospective marketing initiatives and campaigns.

Application

Gusten Sun, founder and CEO of Freedom Funnels, explained the sales funnel to Entrepreneur saying: "To give you a practical example... let's say you're a movie buff, but you want to stop spending so much money at the theaters. You do a quick Google search and find an online movie streaming service that offers a free 30-day trial. You sign up, watch movies for free for a month and afterward they ask you if you want to continue watching unlimited movies from the comfort of your home. You say yes and pay. That's an example of a successful funnel, and that's the concept of providing value first in order to build relationships and turn browsers into customers…Oh, and you may have guessed: That's the sales funnel of Netflix."

Questions and answers

What are some metrics to measure the success of a sales funnel?

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Some metrics to measure the success of a sales funnel include conversion rates at each stage of the funnel, customer acquisition cost, customer lifetime value, churn rate, and sales cycle length. It's also important to track the number of new leads entering the funnel and the number of leads that become customers.

How can a sales funnel help in reducing customer acquisition costs?

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A sales funnel can help in reducing customer acquisition costs by effectively guiding potential customers through a process that starts with awareness and interest, and ends with a purchase. This process is designed to provide value first, build relationships, and then convert browsers into customers. By doing so, it increases the chances of conversion and reduces the amount of resources spent on acquiring each customer.

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Case study

Netflix

Netflix, which has 182.8 million subscribers worldwide is a great example of an effective, easy and rewarding sales funnel implementation. The world's largest entertainment service has seven sales funnel stages because a customer has to complete seven steps to use the service. They are: Landing Page, Introduction Page, Pricing Page (which allows the customer to choose a plan), Create Your Account Page, Sign-Up Page, Set Up You Payment, Complete The Payment. The reason why Netflix sales funnel model works like magic is because through these seven simple steps, the company establishes trust with the customer and makes the process of signing up risk-free and effortless.

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Pipedrive

Another example is Pipedrive–a cloud-based sales software company, which recently offered a redesigned user experience (UX). The new intuitive UX will give customers faster access to all Pipedrive's features, scaling with their needs over time.

Krishna Panicker, VP of Product at Pipedrive said, once again proving that the sales funnel is crucial to successful business: "Over its ten years, Pipedrive has evolved from a sales CRM into a revenue platform. Sales is a team sport involving different departments in a business and we connect the team together. Our goal has always been to provide our customers with powerful, yet easy to use tools that help them do their job faster and more effectively."

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