Sales Funnel Definition
Here is the wikipedia definition of a gross sales funnel:
“A gross sales funnel is constructed by stacking several layers together. Typical layers include:
New Opportunity
Initial Communication
Fact Finding
Develop Solution
Propose Solution
Solution Evaluation
Negotiation
Sales Order
Account Maintenance”
This definition of a gross sales funnel probably is generally drawn from “real world” or what is called “brick-and-mortar” businesses, and may be useful to understand as such. However, as an web entrepreneur I think this definition is a bit outdated and leaves out one of the most important components in a true sales funnel.
If you miss this crucial element within the definition of a sales funnel you can be leaving thousands of dollars on the table each time you get a lead, or make a sale, and here’s why.
Let’s have a look at the Wikipedia definition of a gross sales funnel as our leaping off point, and translate it into some real life advertising and marketing elements. I’m going o use my own internet based gross sales funnel as an example.
New Opportunity:
In an internet sales funnel, this may be one thing like a Joint Venture (JV) where you are able to mail your offer to someone else’s list. This is the place you get entry to new leads to put into your sales funnel.
Initial Communication:
This would be the first email that you send to that list, getting the prospect’s consideration and asking them to click a link.
Fact Finding:
In an web marketing sales funnel you can do your reality finding by presenting the prospect with what is called an “Ask Campaign” page. This is a squeeze web page where they enter their title and e-mail (and thus officially enter your gross sales funnel) and also answer a question about what sort of solution they’re looking for.
Develop Solution:
After you might have a few hundred replies to your ask campaign, you’d then compile and use them to create a product focused to solve the issue for that individual group of prospects. (OR you might already have or be capable to find such a product).
Propose Solution:
In an internet marketing sales funnel, steps 5 by 8 might all take place in your sales letter copy. So, “Propose Solution” becomes your headline and most important copy of your sales letter.
“Solution Evaluation” becomes the a part of your sales copy that gives proof or testimonials.
“Negotiation” turns into the a part of your gross sales letter where you introduce the price, and do a “price countdown” or other device to demonstrate the worth of the the offer.
“Sales Order” happens in your order form which is part of your sales letter.
Account Maintenance:
This is the place the interesting (and profitable) part is available in in an internet marketing sales funnel. That is because “Account Maintenance” includes not only delivery of product and buyer support, but further sales and alternative to lead the brand new customer further down your sales funnel as you continue to speak with them by way of email.
Because you’ve got established an e-mail relationship along with your clients or prospects through your squeeze page, and web marketing sales funnel doesn’t end with the sale and even the creation of a everlasting account, however the first sale is simply seen as the primary entry into a sales funnel that has no foreseeable end.
In fact, the primary “sale” in an internet marketing gross sales funnel is commonly completely free, as it’s intended not to be profitable itself, however to create an unending stream of future profit once the connection is established.
That is how I actually have built my own internet sales funnels, which now usher in over 3 million yearly. To see an example of exactly how my web sales funnels work and learn to create one yourself, see below.
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