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Businesses’ pursuit of sales excellence depends critically on the application of sales principles, whether they are based on conventional wisdom or cutting-edge tactics.
Understanding the five key stages that clients typically go through as they consider and ultimately purchase from your brand is essential for achieving this greatness. Your ability to navigate and enhance the client experience will be strengthened by this knowledge.
These stages can be loosely defined as:
- Customers, and
- Repeat customer.
Here they are in some detail.
Stage 1: Traffic
First, draw traffic. This includes visitors to your website and store. Adverts, SEO, social media, content marketing, influencers. These are just some of the tools companies typically use to generate traffic and leads.
Stage 2: Lead
Leads are a percentage of your traffic interested in your content. They generally show this interest by providing you their contact details in exchange for information they need or something of value.
Stage 3: Prospect
Prospects are leads you qualify as having BANT.
- Budget to spend on your products and services.
- Authority make a buying decision.
- Need the product or service you’re offering.
- Time is of the essence and so has urgency to solve the problem they’re experiencing.
It’s only when you’ve qualified your prospects using a framework like BANT that you can be sure you have a prospect and not just tyre-kicker.
Qualified leads that you evaluate as potential buyers. You’ll need a prospecting process. Once you have your prospects Nurture and build relationships to convert leads to prospects.
Stage 4: Customer
Revenue is next. A customer is a prospect who’s made a purchase. Convert prospects to paying customers by offering them compelling value they cannot refuse and will help them overcome their challenges andor pursue their opportunities. After they commit to becoming a paying customer, WOW them. Make sure to exceed their expectations.
Stage 5: Repeat Customer
Repeat customers are those who willingly come back to make more purchases and will happily pay more. Continuously provide exceptional experiences to make them loyal to your brand.
- Even in the digital age, embrace these principles of sales to ensure growth and profitability.
- You need specific strategies at each stage to move customers through the sales funnel.
- Lastly, constantly analyse and update your sales funnel at each stage. Monitor results and tweak strategies.
This will help you boost the effectiveness of your sales process and to generate even more traffic you can convert over time.
If you need help with this, click here to learn more about our Sales Enablement Support services.
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