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What is the Sales Funnel

An introduction to prospecting
by

Stephen Lattimore

on 5 February 2015

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Transcript of What is the Sales Funnel

Until this point our marketing teams and advertising consultants plan, coordinate, gather data report and re-plan to see what was effective and how to attract more prospects.
However, once contact is made at park the sales funnel is handed from marketing to our sales teams to interact on a personal level in order to make a sale
No one area of the business controls the funnel, it required everyone from park management, marketing, sales and systems support to work together.
Awareness of our business to potential prospects starts with marketing. Everything from web advertising, local adverts and large events are used to “get our name out there”
What is the Sales Funnel
Although the sales funnel traditionally has 5 stages for a prospect to go through the level of detail at the consideration and purchasing stage are broken into even more detail for us to manage. We utilize ParcVu to monitor and track this with its own specific sales funnel statuses which updated as a y product of you interacting with your prospects.
The sales funnel is the name given to the overall process of creating awareness of our product to our prospects, contacting them and managing them through the sales process; including after sales.
Sales is a "numbers game", we start with many prospects and they pass through the funnel till only a few purchase.
Therefore the funnel is monitored on a weekly basis and reported at various levels throughout the business to ensure it is always full.
Prospects are nurtured with communications and interactions starting to form between them and us.
We see outcome of these interactions as prospects contacting us through brochure requests, emails or even walk-ons.
Awareness
Research
Consideration
Purchase
Reviews
The Stages Of The sales Funnel
Marketing
Sales
Prospecting and filling the sales funnel explained
At this stage our prospects are still considering to make a purchase, we must provide them with more information, meet them and let them decide is committing to a purchase is right for them
This is the most fragile part of the process and therefore is scrutinized in the highest level of detail. How many people have come to park, how many times have we contacted them, what has been said or provided, has a park tour taken place all need to be known and reported upon
We use ParcVu to manage the Consideration phase of the sales funnel. ParcVu breaks this one part into several stages based upon the current interaction with our prospect. These stages are used when reviewing sales stats each week. The ParcVu stages are:
New
Contacted
Appointed
Sale Pending
Sold
We also have Cool & Cold for prospects who may decide not to purchase with us or are in long term consideration.

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