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Sales Funnel Definition


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Here is the wikipedia definition of a gross sales funnel:

“A gross sales funnel is constructed by stacking several layers together. Typical layers include:

New Opportunity
Initial Communication
Fact Finding
Develop Solution
Propose Solution
Solution Evaluation
Negotiation
Sales Order
Account Maintenance”

This definition of a sales funnel probably is usually drawn from “real world” or what is named “brick-and-mortar” businesses, and might be useful to know as such. However, as an web entrepreneur I suppose this definition is a bit outdated and leaves out one of the important elements in a true sales funnel.

If you miss this crucial element in the definition of a sales funnel you can be leaving thousands of dollars on the table each time you get a lead, or make a sale, and here is why.

Let’s have a look at the Wikipedia definition of a gross sales funnel as our jumping off point, and translate it into some actual life advertising and marketing elements. I’m going o use my own internet based sales funnel as an example.

New Opportunity:
In an internet sales funnel, this might be one thing like a Joint Venture (JV) where you are able to mail your offer to somebody else’s list. This is where you get entry to new results in put into your gross sales funnel.

Initial Communication:
This would be the first email that you just send to that list, getting the prospect’s consideration and asking them to click on a link.

Fact Finding:
In an internet marketing gross sales funnel you are able to do your truth finding by presenting the prospect with what is known as an “Ask Campaign” page. This is a squeeze web page where they enter their identify and e-mail (and thus officially enter your gross sales funnel) and also answer a query about what sort of solution they’re looking for.

Develop Solution:
After you might have a few hundred replies to your ask campaign, you’ll then compile and use them to create a product focused to solve the issue for that exact group of prospects. (OR it’s possible you’ll already have or be able to find such a product).

Propose Solution:
In an internet marketing sales funnel, steps 5 by way of 8 may all take place in your gross sales letter copy. So, “Propose Solution” turns into your headline and most important copy of your gross sales letter.

“Solution Evaluation” turns into the a part of your sales copy that gives proof or testimonials.

“Negotiation” turns into the part of your gross sales letter the place you introduce the price, and do a “price countdown” or other device to demonstrate the value of the the offer.

“Sales Order” happens in your order type which is a part of your sales letter.

Account Maintenance:
This is the place the interesting (and profitable) part comes in in an internet marketing sales funnel. That is because “Account Maintenance” includes not solely delivery of product and customer support, but further sales and alternative to lead the new customer additional down your sales funnel as you continue to communicate with them through email.

Because you may have established an email relationship along with your clients or prospects through your squeeze page, and internet marketing gross sales funnel does not end with the sale and even the creation of a permanent account, but the first sale is simply seen as the first entry into a sales funnel that has no foreseeable end.

In fact, the first “sale” in an web marketing sales funnel is commonly completely free, as it is intended not to be worthwhile itself, but to create an endless stream of future profit once the relationship is established.

That is how I actually have built my own internet sales funnels, which now herald over three million yearly. To see an instance of precisely how my web sales funnels work and discover ways to create one yourself, see below.

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