Sales Funnels Vs Traditional Sales Models - Which Wins?
Traditional sales models are based on the idea that potential customers move through the process of awareness, consideration, interest, and action. Whether you are selling fashion or electronics, this model works well for simple, tangible products that can be physically touched and evaluated before a purchase is made. However, for subscription-based services and other intangible products, the linear approach of the sales funnel can fall short of delivering the right experience for the customer at the right time.
As a result, many marketing teams are looking for new ways to reach their prospects and convert them from leads into paying customers. One method that has gained popularity is the sales funnel, which outlines a specific sequence of steps that a prospect must go through to become a customer. The difference between a sales funnel and a marketing funnel is that the goals of a sales funnel are to create brand awareness while the goal of a marketing funnel is to drive a potential buyer to your website and generate leads.
A sales funnel starts with a large pool of potential buyers, which is then reduced as they move through the various stages of the marketing and sales process. Each stage is defined by specific criteria, such as the number of people who have filled out an information form or how many potential buyers have attended a webinar. The goal of each stage is to move the potential buyers to a desired action, such as filling out an information form or buying a product.
In some cases, a sales team will follow up with leads to further entice them and close the deal. This may involve offering an incentive such as a free trial or discount. It is important for marketers to understand the different needs of their customers at each stage of the funnel and provide relevant content to drive conversions.
While the goal of a sales funnel is to drive potential buyers to your website and generate leads, the goal of marketing is to create brand awareness and solidify your brand image in the mind of a potential customer. This can be achieved through a variety of channels, such as social media, email marketing campaigns, and webinars.
Webinars, for example, are an effective way to reach potential customers at the top of the funnel. People who attend webinars are highly engaged, and it is not uncommon for them to stay on the platform for an average of 57 minutes. This is much higher than the average engagement rate for a typical video series, which can be watched in shorter increments while multi-tasking or watching at 2X speed.
Another factor that the traditional sales funnel overlooks is loyalty. Once a person is a customer, it is important to nurture their relationship by providing them with valuable content and by being available for any questions they might have. This can be done through various channels such as blogs, podcasts, webinars, and social media.
Learn how To build sales funnels
Subscribe To My Email List And Get Updates On Building Effective Sales Funnels That Generate Leads & Sales
In Your Business.
My Recent Posts
All-in-One Sales Automation Platform
Check out my recent post on all-in-one sales and marketing tools and what I think of it.
Sales Funnels
Check out my recent post on sales funnels and what I think about them. Are they still worth it?
My name is Hadar Matzlich, I've been a full-time digital marketer for the last year now. Three years ago, I finished my law degree. After university, as expected, I found myself working in a law firm, seemingly on the "guaranteed" path to success.
However, although I was supposedly on the right track to success, I couldn't shake the feeling of dissatisfaction with both my work and life.
Then, last year, I reached a pivotal moment. I made the courageous decision to step away from my position at the law firm, propelled by an unshakeable belief that my true calling awaited me elsewhere.
Looking back, I don't regret that decision for a second. It was a plunge into the unknown, but it opened the door to a life that aligns perfectly with my aspirations.
Hadar Matzlich
©Copyright 2023 Global Marketing Lists
1750 Prairie City Rd Suite 130 #614
Folsom, CA 95630