Tag Archives: sales funnel
What Is A Sales Funnel?
Posted on 09. Feb, 2010 by admin.
A sales funnel is a way that both people involved in direct sales and Sales Force Management (SFA) systems visualize the sales process of a company. In any step of the sales process, prospects drop out of it, and from the large number of initially interested persons on the narrow end of orders, only a fraction of the initially interested people remain and actually place an order.
The structure may start at various process steps. For example, a sales lead, or later, a sales offer, to a closed contract or transaction.
A sales funnel is constructed by stacking several layers together. Typical layers include:
1. New Opportunity
2. Initial Communication
3. Fact Finding
4. Develop Solution
5. Purpose Solution
6. Solution Evaluation
7. Negotiation
8. Sales Order
9. Account Maintenance
New opportunities are put in the top and worked through the funnel until the prospects either make a purchase, join your business opportunity, both, or become a disqualified lead. The key to surviving in sales is to make sure that each layer never goes empty. You should always know how many individuals are in each layer. The saying, “Fat pipeline equals skinny kids.” One-call closers have fat kids with better toys.
Knowing that it can take weeks or months to walk your prospects through the funnel process, you must have multiple prospects at all of the layers of the funnel.
The bottom line is straightforward. Make sure that you have action at all of the level in the sale funnel and you will never be desperate for a deal to close again.
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