What is a Sales Funnel?
Now, if you’ve never heard of a sales funnel before, let me just share very briefly what that is. A sales funnel is when you have a product or a service. You have a solution for a group of people. You might have an idea of where they are, so you go out to that place and you talk to a lot of people. As many people as possible and say “I have this thing. I think it’s awesome. I hope you think that too. Do you want to buy it?”
Now, if there are 1000 people at that place where you go to talk about your product and service to see if they are interested, maybe only 500 of them say “Yeah, I have a similar situation that that product or service sounds interesting to me. I’d like to know more”.
Now instead of 1000 people, now you have 500 and as you go through these different stages of talking to people, where you initially started with 1000 people, you might only sell to 10 people. Yeah, I know those numbers sound weird, but in essence, that’s a sales funnel.
It just means that through your conversation and through your messaging, you may start off with lots of people at the top of your funnel at your initial engagement, and then at the end, when you actually make the sale, it’s far fewer people than what you had started with, making the V shape, the shape of a funnel, and that’s what it’s referred to.
How does a Sales Funnel work?
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