You've probably heard of the term sales funnel , which is a fundamental concept for understanding how a company's sales process works. It is a visual representation of the sales process, showing how potential customers become real customers and increasing ROI.
To understand how it works, it's important to keep in mind that not all leads are created equal. Some potential customers are more valuable than others, either because malaysian whatsapp number they have a higher spending capacity, because they are more loyal to the brand, or because they are more likely to recommend the company to others.
Therefore, it is essential to identify the potential profitability per customer . This and the sales funnel are closely related; in order to understand this relationship, it is necessary to understand what customer profitability is. This refers to the benefit that a user generates for a company throughout their life cycle, that is, it is a calculation that takes into account both the income they have generated and the costs associated with their acquisition, retention and service.
In this sense, customer profitability is not a static concept, but varies over time. Customers may be profitable at first, but may stop being so if retention costs are too high or if their purchases decrease over time.
The sales funnel is therefore a key element in ensuring customer profitability. If an efficient sales funnel is designed, i.e. a process that allows the company to identify potential customers, attract them, convert them into real customers, retain them and get them to make repeat purchases, profitability will be guaranteed.
How to achieve an efficient sales funnel?
Today we have a great tool that allows us to be much more precise and to hit the target, and that is technology. We can currently see it present in lead management processes with assisted sales, in martech and adtech tools such as: Google Marketing Platform, Facebook Business Manager, etc.
Using technology, the first step would be to know the potential customer and their purchasing process well . This involves understanding their needs, motivations and behaviors, as well as the channels and times in which they are willing to interact with the company.
Based on this information, you can design personalized marketing strategies that attract potential customers to your company and guide them through the purchasing process. It is important to keep in mind that this cycle does not end with the sale, but rather loyalty and the generation of repeat purchases are essential to ensure long-term profitability.
In the past, invasive advertising methods were used, but now the solution is to be able to communicate in a way that is relevant, the more personalized the better, and making said communication happen when the consumer wants it, without invading their time or overwhelming them with repetitions.
Knowledge of these and many other aspects is now possible thanks to technology. There are technological platforms capable of collecting extensive information about consumers, so that we can target each one of them taking into account all their characteristics and preferences. For example, Delio by Walmeric is capable of collecting information about a lead even before we know who it is.
Now that I have raised this concern, I would like to know what you think about using technology to understand your sales funnel.