Lesson notes, exercises, downloads, and recommended reading are below the video. On mobile, the video will rescale when you play it.


What is the Sales Funnel?

The Sales Funnel is one of the most fundamental concepts in selling. So, in this video, I want to answer the question What is the Sales Funnel?

The Book of the Course!
Sales Skills: A Management Courses Introduction
This book gives a broad introduction to the topic, for managers and professionals who don’t want or intend to specialize in sales and selling. And as a fast start for someone needing to make a start in selling, for whatever reason.
Get the kindle Exclusive book from: https://geni.us/TL5BKeD

Watching this video is worth 2 Management Courses CPD Points*.
πŸ”Ž See below for details

Sales and Selling Skills
This video is part of course module 8.4.2
Program 8: Managing Customers and Clients
Course 4: Sales / Selling Skills
Section 2: Sales Fundamentals

Other videos in this section include:
🎬 Why People Do and Dont Buy https://youtu.be/kmgsLNnSzzc
🎬 Sales Success: & Sales Do’s & Don’ts https://youtu.be/AGTRdbZ9g8k
🎬 5 Components of a Powerful Sales Attitude https://youtu.be/–Ilv0x1lYo
🎬 How to Qualify Your Sales Prospects https://youtu.be/HOiuzz9bwPA

LESSON NOTES
The sales funnel is a metaphor for how the number of people reduces with each stage of the sales cycle, from a vast number of possible prospects – your β€˜suspects’ – to small number of actual buyers.

There are different articulations of the sales funnel.
I base mine on the sales process in earlier videos in this program. Start with The Sales Process – a Summary of the 9-Step Selling Process https://youtu.be/iPZNem-Xguw

1. Prospecting – Awareness
2. Qualification – Interest
3. Diagnosing – Understanding
4. Presenting – Evaluation
5. Consideration – Negotiation
6. Commitment – Purchase

Beyond this are additional stages where:
β€’ Your customer adopts your product or service
β€’ You develop the relationship – account development
β€’ Your customer grows in loyalty and commitment to your brand

RECOMMENDED EXERCISE
Each organization has its own variant on the sales funnel.
1. What are the steps in your organization’s sales funnel? (2 MC CPD Points)
2. For each step, what can you do to maximize the number of prospects that pass through to the next step (and to minimize the number you lose)? (10 MC CPD Points)

DOWNLOADS
Free Resources

🧰 CPD Tools – https://gum.co/MC-CPD
Paid resources
🧳 Management Courses Onboarding Kit – https://gum.co/MC-ObK ($3)

RECOMMENDED READING
There are many books that introduce sales and selling. These are the ones I have, and can recommend:
πŸ“– To Sell Is Human https://geni.us/L2EQmt
πŸ“– The Only Sales Guide You’ll Ever Need https://geni.us/AEAVD5
πŸ“– The New Strategic Selling https://geni.us/Zt2Z9n3
πŸ“– SPIN Selling https://geni.us/Ir5xu
πŸ“– The Psychology of Selling https://geni.us/AjR8AA

⭕️ Links to our book recommendations are affiliated through Amazon and help support our free videos

Managers Need a Basic set of kit to do your job well. Here are my top recommendations: https://kit.co/MikeClayton/manager-s-work-kit (the links are affiliated)

MANAGEMENT COURSES CONTINUING PROFESSIONAL DEVELOPMENT (CPD) POINTS
You can record your Management Courses CPD points on our free, downloadable CPD record log.
πŸ““ Download it at: https://gum.co/MC-CPD
Each video has two levels of MC CPD points. For this video:
– If you simply watched the video, record 2 MC CPD points
– If you also carried out all of the recommended exercises, score a total of 14 MC CPD points

CHAPTER MARKERS
00:00 – What is the Sales Funnel?
00:40 – The purposes of the Sales Funnel model
01:09 – Different articulations of the sales funnel
01:42 – Prospecting – Awareness
02:04 – Qualification – Interest
02:19 – Diagnosing – Understanding
03:00 – Presenting – Evaluation
03:16 – Negotiation – Consideration
04:02 – Commitment – Purchase
04:24 – Additional stages in the sales funnel
05:03 – Summing up

#ManagementCourses #Sales #SalesFunnel

source

Sales Optimization: Upselling, Down-selling, and Cross-selling
Account Management: What is Account-based Selling?
Pricing and Fear of Price
The 1-2-3 of a Successful Written Sales Proposal
Cold Calling to Get a Sales Appointment
You Need a Sales Strategy: Which One?
How to Qualify Your Sales Prospects
5 Components of a Powerful Sales Attitude
Sales Success Tips: Sales Do’s & Don’ts
Master Selling: Why People Do and Don’t Buy
After-Sales Activities [Sales Process Part 9 of 9]
Seeking Commitment – Closing the Sale [Sales Process Part 8 of 9]
Handling Objections to the Sale [Sales Process Part 7 of 9]
Presenting Solutions [Sales Process Part 6 of 9]
Diagnosis: Diagnosing the Customer’s Need [Sales Process Part 5 of 9]
Opening the Sales Meeting [Sales Process Part 4 of 9]
Sales Meeting Rapport Building [Sales Process Part 3 of 9]
Pre-Sales Activities [Sales Process Part 2 of 9]
Sales Prospecting [Sales Process Part 1 of 9]
The Sales Process – a Summary of the 9 Step Selling Process

Mike Clayton

About Mike Clayton 

Dr Mike Clayton is a (former) Project Manager and now a management educator. Having trained thousands of people at live workshops, seminars, and conferences, he now delivers training mainly via video. He has 14 books with international publishers and runs two successful YouTube channels. He is also the founder of OnlinePMCourses.com

Leave a Reply

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Never miss a good story!

 Subscribe to our newsletter to keep up with the latest trends!