When setting up your sales funnel, you need to understand what each stage is and how to automate them. The awareness stage is where a business first catches the attention of the consumer, whether through a Facebook post, a Google search, or some other marketing method. The chemistry that happens during this stage is often enough to convince a consumer to make a purchase. This is a more courtship stage than the decision stage, where the consumer knows a product or service is desirable and knows the price.
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Creating a sales funnel
One of the best ways to secure a larger percentage of sales is to create a sales funnel automation system. With an automated system, you can free up your time to focus on business growth. Additionally, automated sales funnels can reduce labor and expense costs. This increases ROI, which translates to higher profit margins.
A sales funnel is a series of steps through which a prospective customer will move from prospect to paying customer. It also tracks the sales process and ensures that sales resources are being utilized efficiently. In addition to generating more customers, a sales funnel can help small businesses track their leads and track them throughout the sales process.
You can track and manage different types of conversions in the sales funnel with LinkedIn’s Campaign Manager. This tool helps you track different types of conversions such as ad clicks and phone calls. It also allows you to track organic posts and short form content.
Tracking conversion rates
In sales funnel automation, tracking conversion rates is crucial to prove your ROI. You can calculate your conversion rate by subtracting the total number of leads from the total number of sales. Then, multiply that number by 100 to get your conversion rate. You can also track your conversion rate by different stages of the funnel.
Depending on the complexity of your sales funnel, you may need multiple conversion levels. For example, a high-end custom product sales funnel may require a potential customer to request a quote or submit information before making a purchase. Using multiple conversion rates will help you identify weak points in your funnel.
