To better understand the concept of a sales funnel and just how you can implement it in your own business, let's look at the following image from Shutterstock. On the left side of the image, you see a magnet. That magnet is attracting customers, which happens a number of ways. From blogging to social media to paid ads and everything in between, how the visitors arrive to your website has some impact on the success of your funnel. 
This lead capture software ranges from simple to complex. You can have a landing page that captures the data, or you can sign up for a system that tracks your user's accounts once they sign in. You can see what products they looked at, what pages they read and, judging from their account activity, you can see how likely they are to become customers.
Much of this is steeped in buyer psychology. The best marketers in the world know that there is a psychological process that must occur for prospects to whip out those credit cards and turn into buyers or even hyper-active buyers. One such person whose perfected this process is Russell Brunson, an "underground entrepreneur" who founded a company called ClickFunnels, a sales funnel SaaS business that empowers marketers from around the world to build marketing automation without all the hassle. 
The final step in the process is to figure out which metrics you’ll track to determine how well your funnel is functioning. It’s crucial to work with the SQL and MQL data here to track patterns between who closes and how they interact with your site, content, channels, ads, etc. Once you have more information, you can continuously optimize your funnel
Advocacy metrics: Track your advocacy efforts by measuring the percentage of customers who come through your referral program. Also gauge sentiment by what customers are saying on social media. Small businesses that don’t have the time or resources to devote to social media can use software tools, such as Hootsuite, to streamline the monitoring and management of various social media outlets.
According to one recent study published by Pardot, 70% of buyers turn to Google at least 2-3 times during their search to find out more about their requirements, potential solutions, companies offering those solutions, etc. Many people also turn to public forums and social media platforms for recommendations. At this point, they aren’t looking for promotional content; they’re only looking to learn more about potential solutions.

For United/Optum, hospital services are not seen as something that adds much breadth to the top of the funnel or that draws people into the funnel—certainly not enough to justify Optum taking on the high fixed costs and poor pricing of inpatient care. Rather, hospitals are an additional interaction within the funnel that can be accomplished through partnerships rather than ownership, according to Wichmann. Those partnerships, he says, “will occur in markets where there is maybe fewer assets for us to accumulate and build from."
Molly might conclude that anybody who fills out her online demonstration request form is an MQL.  Another company might set the bar to MQL qualification at something involving a combination of viewing specific pages, interacting with certain forms, and opening a certain number of email messages. For that kind of analysis, we recommend marketing automation software.
In a recent conversation I had with Perry Belcher, co-founder of Native Commerce Media, he told me that you also need to train your prospects to click on links. For example, you could have them click on a link of what interests them or link them to a blog post or eventually to a product or service that you're selling, but you need to train them to build a habit of clicking on those links from the very beginning.

If you’re running an accounting business, at this stage your customers would be evaluating different potential service providers. They might need resources like pricing guides (so they know what ballpark rates are), how to evaluate the landscape of accounting services (i.e. whether to hire a solo accountant, an agency, etc.), or how to choose an accountant.

The marketing funnel depicts the steps of a hypothetical buyer through his decision-making process. The funnel is widest at the top and then gradually grows more narrow. The earliest models depicted a customer entering the funnel as a novice and then sliding down the funnel and through the steps of awareness, interest, desire and action, meaning a purchase.

3. Follow-Up – Not all leads are going to move smoothly from one step of your funnel to the next. And not all leads are going to be ready to make a purchase decision right off the bat. That’s where the follow-up stage comes in. This part of the funnel is meant to redirect leads who have exited your funnel and bring them back into the sales process. Retargeting ads and email campaigns make up the bulk of this stage. 
First, a common language needs to be set up to ensure marketing knows when a lead should be moved from marketing’s control, and placed in the sales funnel. There are two terms, "marketing-qualified lead" (MQL) and "sales-qualified lead" (SQL) or “sales-accepted-lead,” which all sales funnels must embrace to keep both teams aligned. When marketing has a lead ready to talk to sales, the lead should be marked as an MQL, meaning marketing has gotten it to the point where they believe sales should take over. If sales agree the lead is sales-ready, they accept the lead and move it from MQL to SQL (or SAL), and the handoff is complete. If not, the lead goes back to marketing.
We may receive compensation from some partners and advertisers whose products appear here. That’s how we make money. Compensation may impact where products are placed on our site, but editorial opinions, scores, and reviews are independent from the advertising side of The Blueprint and our objectivity is an integral part of who we are. Our commitment to you is complete honesty: we will never allow advertisers to influence our opinion of products that appear on this site.
For instance, if you’re running an accounting business, at this stage your leads would be comparing plans offered by different service providers. They might need resources like how to evaluate the landscape of accounting services (i.e. whether to hire a solo accountant, an agency, etc.), pricing guides (so they know what ballpark rates are), or how to choose an accountant.
Every day at wikiHow, we work hard to give you access to instructions and information that will help you live a better life, whether it's keeping you safer, healthier, or improving your well-being. Amid the current public health and economic crises, when the world is shifting dramatically and we are all learning and adapting to changes in daily life, people need wikiHow more than ever. Your support helps wikiHow to create more in-depth illustrated articles and videos and to share our trusted brand of instructional content with millions of people all over the world. Please consider making a contribution to wikiHow today.
Define your end goal. This is the end relationship you want to have with the information you gather, and it differs greatly for online businesses. In some cases, the contact details of a person is your Internet-based goal, because it may funnel leads into a service-based business that calls its customers by phone, and in other cases, it is developing repeat clientele.
Exits from stage – Similarly, seeing an excessively high number of people falling out of a particular stage is an indication that you aren’t doing enough to answer their questions or you’re asking them for too much of a commitment too early. Add more content to give them the information they need to move forward or make it easier for people to convert (e.g. don’t ask for a phone number when they’re downloading a certain e-book).
Most prospects will look to enter this stage after identifying your offering as a possible solution and completing the information search process described in the earlier stage. However, some customers might be introduced to your brand after completing Stage 2 with your competitors, as in the case of an industry blog running a comparison chart of the different competitors in your space.
3. Follow-Up – Not all leads are going to move smoothly from one step of your funnel to the next. And not all leads are going to be ready to make a purchase decision right off the bat. That’s where the follow-up stage comes in. This part of the funnel is meant to redirect leads who have exited your funnel and bring them back into the sales process. Retargeting ads and email campaigns make up the bulk of this stage. 
We’ve all received automated emails (like the one that provided a link to this blog post!), multiple times a day when we forgot to uncheck the box. You’ll need to join the ranks of these knowing marketers by adopting an automated email system to build your list of subscribers and people you wish to market to.  These systems are typically very easy to use and set up and allow you to segment your audience lists and more. Get to know yours intimately.
So ask yourself, is yours an expensive course that needs a lot of credibility to convince people to purchase it? Is it a free course you are launching and so may need less information and more hype and emotion? Is it a course series you are trying to encourage a commitment to? Are you one Udemy course among 100 competing courses on the same topic?   Are there obvious challenges or objections that people will have to taking your course, such as a high price or hard to achieve objectives?  Are you in a niche market and therefore need to really work hard to keep anyone remotely interested in your topic in your sales funnel?
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Apple, Starbucks, and Tesla and recommends the following options: short November 2020 $85 calls on Starbucks. The Motley Fool has a disclosure policy.
Your automated sequence of emails needs to reflect the different stages of the sales funnel process as depicted in the diagram above. Automated emails ideally should guide your prospective students somewhere from the “interest phase”, where they have signed up for a newsletter or downloaded a lead magnet, through to purchase of your course. This requires a good bit of thought to create the right messaging, frequency and content offer.
Blog posts: This tactic employs the principles of content marketing by offering educational articles of interest to your target audience. They’re designed to give advice or helpful insights on topics related to your business or industry, and consequently, draw consumers to your site who are interested in this information. These educational, informative posts also showcase your company’s knowledge and expertise, building your brand with the target audience.
So ask yourself, is yours an expensive course that needs a lot of credibility to convince people to purchase it? Is it a free course you are launching and so may need less information and more hype and emotion? Is it a course series you are trying to encourage a commitment to? Are you one Udemy course among 100 competing courses on the same topic?   Are there obvious challenges or objections that people will have to taking your course, such as a high price or hard to achieve objectives?  Are you in a niche market and therefore need to really work hard to keep anyone remotely interested in your topic in your sales funnel?
As you may already know, we offer a Done-For-You Sales Funnel Service for clients who want AutoGrow to custom-craft a funnel that will automate their sales or client lead generation, get them better quality prospects, and let them own a sales pipeline packed full of clients. You know that when it comes to creating funnels and implementing sales funnel strategies, we are the ones!

The questions have intensified with two recent announcements. UnitedHealth Group CEO David Wichmann said that Optum plans to grow from $16 billion to $100 billion annual revenue by 2028, and will do that without building any hospitals. A few days later, CVS announced that it would expand its three-store HealthHUB pilot into 1,500 locations by 2021. HealthHUB is CVS’s in-store health and primary-care experience.
As each individual deal moves through each phase, the probability of closing the sale will change. The further along the sales funnel, the more information is exchanged and more apparent it becomes using the product will be advantageous to the customer. At this point, there is a higher potential for that deal to be ultimately successful unless the deal is moved to closed-lost in which case, the probability moves to zero.
If you’re running a consulting business, for instance, your clients already realize that they’re having certain problems around your service area – like disorganized spending (if you’re in accounting) or a high cost per lead (if you’re in marketing). On the other hand, if you’re running a software development business, your client could be having problems with absolutely anything right from the hours being consumed to other factors that affect deliveries.
Most prospects will look to enter this stage after identifying your offering as a possible solution and completing the information search process described in the earlier stage. However, some customers might be introduced to your brand after completing Stage 2 with your competitors, as in the case of an industry blog running a comparison chart of the different competitors in your space.
Time in stage – In an ideal world, your marketing content would be so compelling that people move from the top stage to the bottom stage in a single day. But since that’s rarely the case, it’s worthwhile to know if your prospects are getting hung up in one of your stages. If so, you’ll want to add more content to your site that answers the questions that are unique to this stage of the funnel.
In brief, we are inclined to go along with someone’s suggestion if we think that person is a credible expert (authority), if we regard him or her as a trusted friend (liking), if we feel we owe them one (reciprocity), or if doing so will be consistent with our beliefs or prior commitments (consistency). We are also inclined to make choices that we think are popular (consensus [social proof]), and that will net us a scarce commodity (scarcity).
×