5 Essential Stages of a Killer B2B Sales Funnel – Start Growing Your Business
Highlights: Sales Funnel Statistics - A recent study showed that more than 570,000 websites use sales funnel-building tools. ClickFunnels is the widely used sales funnel-building tool accounting for 55% of the market share.
A sales funnel is essential for any business that wants to grow its business. A well-designed B2B sales funnel helps you maximize revenue and aids in the improvement and fine-tuning of your sales process. It also helps in gaining a deeper knowledge of your customer's journey.
As a business, you need to take a close look at your sales process, what's working well, and where there is room for improvement. By understanding your market dynamics and incorporating the strategies that sell, you can ensure that your business is making the most out of every opportunity to increase sales.
A killer sales funnel strategy is the key to success in today's highly competitive marketplace. It is not something you can just wing and expects to get results. So, how can you get your feet wet when it comes to creating a B2B sales funnel that attracts potential clients like a magnet? Well, here is how.
Awareness or Lead Generation
The majority of clients aren't even aware of their problems. Being aware of your product's ability to assist them is a completely different scenario. Consider the potential customer, at this stage, a complete stranger, someone who knows nothing about your brand. Your task is to educate them and introduce them to your product in a non- salesy way.
The content you create should focus on the problem they are facing, not on the features of your product. Try using educational blog posts, helpful guides, infographics, webinars, or podcasts to introduce your brand and product. The key here is to provide valuable content that will help your target market learn more about the problem they're experiencing and how your product or service can help solve it.
Lead Nurturing or Interest
At this stage, you have the potential customer's attention, and they are interested in learning more about your product. However, they are not ready to buy just yet. This is where lead nurturing comes in; you need to keep the flame of their interest alive by sending them timely and relevant content that further educates them about their problem and how your product can help solve it.
You can also use lead nurturing emails, autoresponders, and social media posts to keep in touch with potential leads and continue building trust. As you continue providing valuable content, you will increase the chances of converting leads into paying customers. The B2B lead nurturing strategy is usually disregarded by many marketers, even though it can help you produce 50% more sales than the average.
Locking the Lead
The potential customer is now fully aware of their problem and how your product can help solve it. Now is your opportunity to build the crucial relationship and trust required to convert a prospect into a customer. This is the most important stage of the B2B sales funnel, as the first sales discussion will determine whether or not the customer proceeds to the next stage of the funnel.
Here your content should focus on the benefits of your product and how it can help them solve their problem. You can also use case studies, customer testimonials, and comparison charts to help seal the deal. The goal is to make it as easy as possible for the potential customer to say "yes."
Closing the Sale
This is the point at which everything that you work for pays off. The entire objective of the sales funnel is to get someone to the last stage of the funnel, so make sure you don't trip over the finish line.
It is the point where your customer is fully convinced that your product is the right solution for their problem and are ready to make a purchase. Your job here is to make it as easy as possible for them to actually make the purchase and to resolve any last moment questions that they might be having.
Retention and Referrals
A lot of marketers mistakenly think that the sales funnel ends at this point. However, the customer journey doesn't end here. Just because someone has made a purchase doesn't mean that your job is done. In fact, it's just the opposite. The post-purchase stage is when you need to focus on providing an excellent customer experience and ensuring customer satisfaction.
If you're able to do this, then you will have happy customers that will not only come back for more but will also refer your product or service to others. As per a study, about 84% of B2B buyers hear a brand through referrals, meaning if you're able to create happy customers, they will do a lot of the marketing for you.
The sales funnel is a crucial part of any B2B marketing strategy. By understanding each stage of the funnel, you can create content that is tailored to the needs of your target audience and guide them through the various stages until they are ready to make a purchase.
Remember, the focus should always be on providing value and solving the problem that your potential customer is facing. If you're able to do this, then you will be well on your way to closing more sales and growing business.