Mastering the Sales Funnel for Service Businesses

Posted on June 01, 2024 by Feras Alhlou, One of Thousands of Business Coaches on Noomii.

A sales funnel is a framework that maps out a client’s buying journey to facilitate the right interactions at each step. While applicable to both products and services, the framework must be adapted to the specific product, service, and client type. The provided sales funnel structure has proven effective in growing business from a single client to working with recognized brands.

Understanding the Sales Funnel for Consultants

A marketing funnel represents lead generation efforts, while a sales funnel guides leads through stages post-generation. 68% of businesses neglect to identify or measure a sales funnel, with 79% of marketing leads never converted into sales. Tracking sales funnel results helps identify issues in the nurturing and converting process.

The 5 Stages of a Service Business Sales Funnel

The sales funnel consists of five stages: Awareness, Education, Evaluation, Negotiation, and Sale. In the Awareness stage, direct interactions begin, broadening the lead’s knowledge of services. The Education stage involves providing more tailored education to deepen the lead’s understanding. The Evaluation stage is where the lead scrutinizes the service provider, comparing to competitors and conducting internal discussions. The Negotiation stage requires flexibility within set parameters as leads present items for negotiation. The final Sale stage is where agreements are signed and payment is received.

Full article here:
www.startupwithferas.com/mastering-sales-funnel/?utm_source=noomii&utm_medium=referral&utm_campaign=sales-funnel-summary