Publisher's Synopsis
USING A SALES FUNNEL WILL INCREASE YOUR CONVERSION RATE. While you move down the sales funnel, you'll notice the number of people in each phase decreasing, but, more importantly the likelihood that the people who are there will buy your product or service increases. The nature of the sales funnel filters out the non-perspective buyers while building up the number of targeted prospects. As the funnel narrows, the end result becomes more targeted. As such, you can create a fertile environment with highly targeted customers, where you can focus your marketing efforts. By focusing your efforts on these people, you can appeal to their wants and needs, because they already have a higher chance of converting. A SALES FUNNEL CAN HELP PREDICT YOUR SALES VOLUME With a sales funnel, you can use each marketing phase to quantify the number of perspective customers, and then take the data to predict the percentage who will become actual customers. For example, if Jane monitors her website traffic for six months and finds that she gets 5,000 visitors to her website every month, and out of those visitors, 40% of them sign up for her free product/email newsletter, that's roughly 2,000 new subscribers per month. Of those 2000 new subscribers per week, 5% of them end up becoming paid subscribers or purchasing one or more of her products. With this information, Jane can then determine based on the number of people in each stage of the funnel, how many sales she can expect to make.
