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.
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Watching this video is worth 2 Management Courses CPD Points*.
🔎 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
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 ‘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:
• Your customer adopts your product or service
• You develop the relationship – account development
• Your customer grows in loyalty and commitment to your brand
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)
🧰 CPD Tools – https://gum.co/MC-CPD
🧳 Management Courses Onboarding Kit – https://gum.co/MC-ObK ($3)
There are many books that introduce sales and selling. These are the ones I have, and can recommend:
📖 To Sell Is Human https://geni.us/L2EQmt
📖 The Only Sales Guide You’ll Ever Need https://geni.us/AEAVD5
📖 The New Strategic Selling https://geni.us/Zt2Z9n3
📖 SPIN Selling https://geni.us/Ir5xu
📖 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
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– If you also carried out all of the recommended exercises, score a total of 14 MC CPD points
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