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Sales FunnelCORPORA
IFORTIS
INTERNSHIP
2021

MARCH 15

SANJAI KUMAR.V
MARKETING AND SALES INTERN
Ref.ID:202020529

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 1. What is sales funnel?

A sales funnel is a marketing concept that maps out the journey a customer goes through
when making any kind of purchase. The model uses a funnel as an analogy because a
large number of potential customers may begin at the top-end of the sales process, but
only a fraction of these people actually end up making a purchase.

As a prospect passes through each stage of the funnel, it signifies a deeper commitment
to the purchase goal. Most businesses, whether online or conventional, use this model to
guide their B2C marketing efforts in each stage of the sales funnel.

“Primary goal with sales funnel is to move people from one stage to
another until they are ready to purchase”

2. Basic Sales Funnel stages are:

 Awareness
 Interest
 Decision
 Action

Awareness
At this stage, the prospect learns about your existing solution, product, or service. They
might also become aware of the problems that they need to solve and the possible ways
to deal with them. This is when they visit your website for the first time, which they
found from an ad, Google search, a post shared on social media or another traffic source.

Interest
At this stage, the prospect is actively looking for solutions to their problems and ways to

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achieve their goals. They search for solutions on Google. This is when you can attract
them with some great content. Now is the time when he expresses his interest in your
product or service. He follows you on social media and subscribes to your list.

Decision
At this stage, the prospect is making the decision that he wants to take advantage of your
solution. They are paying more attention to what you offer, including different packages
and options, so he can make the final decision to purchase. This is when sales offers are
made by using sales pages, webinars, calls, etc.

Action
At this stage, the prospect is becoming a customer by finalizing the deal with you.
They’re signing the contract and clicking the purchase button. Then the money is
transferred to your bank account. It’s important to state that there might be additional
stages to your sales funnel. Your interaction with a customer doesn’t end with a
successful stage.

Retention
At this stage, you have your customer on board your company. This stage requires you
to focus on keeping customers happy in order to convert them into repeat customers and
brand advocates. Word of mouth is a powerful force and no one can do it better than a
happy customer.

To keep customers happy, you need to help your customers with all aspects and
problems related to what they bought from you. Basically, you want them to stay
engaged with your product/service. You can do that by sharing content such as:

 Emails
 Special Offers
 Surveys/Outreach and follow-ups
 Product usage guides
 Technical assistance literature

3. Differentiation: Sales Funnel vs Marketing Funnel 

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There is a slight difference in sales funnel vs marketing funnel. It turns out that these
terms can be interchanged, and breaking them up is tough. The most salient dissimilarity
between the two terms appears to be the context of use.

Sales Funnel vs Marketing Funnel: Both important to businesses

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 It is a complicated topic that can be argued all day long. However, it’s good to
perceive that sales and marketing are alike in many ways. Though they aren’t the exact
same thing, they should tell the same story. 

Marketing funnel advertises a product or service to give leads a motivation to buy.

Whereas, the sales funnel deals with the leads generated from the marketing funnel and
trying to entice them to buy as often as possible.

Marketing Funnel Sales Funnel

A marketing funnel is the high-level On the other side, the sales funnel is
strategy to guide customers from the process whereby you plan to get
absolutely unaware of your brand to people to take action either logging
actual, loyal customers.  in to your email list, purchasing a
product, or participating in an event.

The phases of the marketing funnel, It’s a series of sites that are made to
therefore, start at raising awareness seamlessly persuade a customer to go
and make it to the end with from point A (i.e. be inquisitive about
conversion.  your product) to point B (i.e.
purchasing your product)
In that way, a sales funnel is actually
a part of the marketing funnel.

4. Overcome the issues from lead and make valuable customer of our
corporate

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 1. Don’t Discount the “No” Responses
The biggest mistake you can make with your sales funnel is throwing away the no’s to
quickly.  For many sales associates, particularly less experienced ones; being told no
can be difficult to process and makes them want to move quickly on to a new fresher
lead.  Often times a no actually means “not right now but later”.
There is a lot of information to provide when delivering a pitch and a lot of reasons for a
potential customer to say no.  Many times those moments kill the deal at that time, but
that doesn’t mean they won’t buy later.   

For instance, a common objection to not wanting to move forward with a purchase is
that the client doesn’t have enough time right now to get the requested information
together and move forward with the purchase.  Now it may be enticing to forget and
move on to a new hotter lead.  There is a better practice to implement than simply
giving up.  Create an email campaign to follow up over the next couple of months.
With this campaign you can educate the potential client with information that directly
relates to their objection.  This will move them closer to the sale while keeping your
name up front and out there when the buying time hits.   Finding what objections you
consistently hear and creating email campaigns around education for those objections
will greatly minimize this crack in your funnel

2. Make Sure Respond to Leads Quickly

Another reason that you may be losing business through a crack in your sales funnel can
be not responding to new leads quick enough.  Studies have shown that a lead is nine
times more likely to close if you follow up within 5 minutes.  This is often referred to as
“speed to lead”.  When a potential customer express interest in a product or service they
are looking for information at that time and are ready to interact.  

Waiting can provide a wide array of obstacles like moving on to competition or just
losing interest.   By automating this process with a personalized email you are able to
follow up immediately electronically.  Another solution is staggering your associates
appropriately to respond with a call based on peak lead generation times.   Analyzing
the data on when leads typically come through and creating a personalized email is key
to helping plug this crack in the funnel.  A good CRM can help with the automation
process when new leads come through and the follow up on old leads.

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 3. Follow up
Lack of consistent follow up with new and old leads will often times let
potential clients slip away.  Particularly on higher ticket products and services potential
clients will not want to close right away.  It is important for sales reps to build and
maintain relationships, earning trust over time.

 Over time checking in and really getting to know your potential clients pain points will
keep sales consistent and moving in the right direction.  It is nice to close the sale right
away and move on, but just doing this will allow sales to slip away that need more
information.  Closing sales right away and still nurturing the relationships that need time
is a proven way to keep the needle moving in the right direction.   

To keep the follow up consistent there should be at least 5 – 12 follow up points within
the first 2 months.  Automating an email campaign along with scheduled follow up
phone calls will help with this.  By analyzing your follow up patterns and creating a
follow up template you can greatly increase the close ratio on old business.   
After every phone call try to set a follow up a time for your next phone call and keep
educating with your email campaign.  Often potential clients need to be nurtured until
they are ready to pull the trigger, as they wouldn’t have asked for info if there weren’t
some interest.
By implementing these processes you will be able to minimize the gaps in your sales
funnel.   It is of the utmost importance to getting the most out of your new and old
contacts and drives the most sales.

5. Example: Tricentis

Tricentis is a software testing tool with a suite of products that spans across automation,
integration, and optimization. They are one of the most innovative tools for continuous
software testing. It’s easy to assume Tricentis wants to be found as someone searches
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for a software testing tool and they are. They actually rank highly with a guide
called The Top Software Testing Tools: The Ultimate List of Lists for the software
testing tools search. Because of this, they can easily build awareness with their target
audience.

As their potential customers land on their website, they can get in touch with the
company in several ways: by starting a free trial, selecting the ‘Ask an expert’ option
(top right) or ‘Talk with sales’ option (bottom right).

Tricentis: Middle of the funnel

Once again, a sales rep has plenty of information about the lead, such as their job title
and company name. This is a great foundation for starting a qualifying sales
conversation.
Furthermore, Tricentis pride themselves with a huge resource library, which means that
as they nurture their sales leads, they can send them incredibly specific content for the
challenges their lead is facing.

Whether the prospect requires more information in the form of info packs, video demos,
or in-depth guides, a Tricentis salesperson can easily provide them with everything they
need and move them further into the funnel.

Tricentis: Bottom of the funnel

When it’s time for a Tricentis lead to make a purchase decision, they need more
information and reassurance that the product is the right way to go. This is where
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Tricentis sales reps can direct the lead toward their ROI calculator, their customer
success stories, and even perks like their Tosca Community.

Being a match for their prospect’s needs and requirements, as well as by ensuring them
they’ll be properly looked after as customers, they can easily win highly qualified
prospects over.

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