ADVANTAGES OF SALES FUNNELS

A sales funnel is the marketing term for the journey potential customers go through on the way to purchase. There are several steps to a sales funnel, usually known as the top, middle, and bottom of the funnel, although these steps may vary depending on a company's sales model. A sales funnel helps you understand what potential customers are thinking and doing at each stage of the purchasing journey. These insights allow you to invest in the right marketing activities and channels, create the most relevant messaging during each stage and turn more prospects into paying customers. 

Below you will find some reasons why a sales funnel is that important for you to have in your online business:

It will increase your sales revenue-

Let's say you have a report you sell for $17. You can sell it 300 times, so you would make $5100 in sales. But do you think some of them would also buy a related product for $37 or even $197? I bet some would! So it's is actually crazy to not have a sales funnel in place for your online business. You don't need all pages up and running from the beginning, but at least plan to have them. 

It will increase your conversion rate -

While people are moving down your funnel, the number of them will decrease, but, and this is more important, the people staying in the funnel most likely are more willing to pay for your related more expensive products. So non targeted people will be filtered out in the sales funnel. And the ones who stay, will buy more, and this will increase your conversions! Focus your efforts on those people and give them what they need, and you will sell also high ticket products.

It can also help to predict your sales volume -

Online marketing is a numbers game. And with each marketing phase you can quantify the number of perspective customers, and then take the data to predict the percentage of people who will buy your products. As an example, let's say Paul tracks his website traffic for 10 weeks and finds that he gets 10,000 visitors to his page each month. 40% of them sign up for the free offer (4000 subscribers), and 5% of them will purchase one or even more products. After some weeks Paul will have detailed stats about how many people buy at which stage in the funnel. And with those numbers Paul can predict how much money he can make with his sales funnel.

It will show you products/services that don't sell -

With the numbers that Paul gets every month he can identify products or services that do not sell well. So he can make adjustments on his plan and products to improve it, or he can even take out or replace existing products. That's why it's always important to track everything you do in your funnel. 

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