The sales funnel is a “model” of how you think about your incoming leads and how you manage those leads as the move from initial contact, to final payment, with leads and prospects dropping off at every step.
The metaphor of a funnel is used (wide at the top and narrow at the bottom) because it illustrates the idea that some fall away at every step of the process.
Did you know that on average, a business in the USA closes 21% of it’s leads.
For the example provided in this article, the numbers are made up and arbitrary, but the idea is valid for every business in every industry.
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In the example used in the graphic, on average 3,000 website visitors equates to 10 sales.
Of course this varies from business to business. For a Realtor the 3,000 to 10 ratio would probably be very high. For someone who sells an interesting information product (eBook) for $2.99 that ratio might be very low.
In subsequent articles I provide examples of sales funnels for different types of businesses.
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