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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*. 🔎 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 ‘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 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: 📖 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 You can record your Management Courses CPD points on our free, downloadable CPD record log. 📓 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
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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

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