Sales funnel: how to create and use it in CRM

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In today's business environment, effective sales management is critical to success. A sales funnel is a powerful tool for organizing and controlling all stages of customer interaction: from the moment of first contact to the conclusion of a deal. The result is increased conversion and optimization of working hours, which affects the growth of profits and improves business efficiency.

In the article, we will take a detailed look at what a sales funnel is, what benefits it provides to companies, how to properly create and use this tool, and how to automate your sales with NetHunt CRM .

Content

What is a sales funnel?
How to create a sales funnel
Effective sales funnel in NetHunt CRM
Types of sales funnels
What a sales funnel does for a business
Sales funnel example
Common Pitfalls in Sales Funnel Management
The main point of the article
Frequently asked questions
What is a sales funnel?
A sales funnel is not just a statistical report or a graph of a company's sales. It is a sequence of steps a potential customer takes — from showing interest in a product or service to completing a purchase or concluding a cooperation agreement.

Typically, the funnel is depicted in the shape of a triangle or in a Kanban board format, where each column corresponds to a sales stage.

With a sales funnel, businesses not only manage sales more effectively, but also gain a clear understanding of customer needs and behavior. Through data analysis, sales managers can understand where problems and delays occur in the funnel and make informed decisions to address them.

Sales funnel visualization
Sales funnel
How to create a sales funnel
Building an effective sales funnel is a key step in the sales process and creating sales scripts . After all, a sales funnel is an important element that structures interaction algeria phone number list with potential customers, optimizes processes and increases conversion. In this section, we will look at how to create effective sales funnels.

Analyze the customer journey and develop funnel stages
Understand where your customers are learning about your product, where they show interest, and when they’re ready to buy. Break down the sales process into clear stages and tailor your funnel to meet the needs of your customers at each stage.

Set transition criteria between stages
Identify what actions indicate a customer is ready to move on to the next stage. Standardize the sales process and create a clear algorithm of actions for sales managers to help move the deal forward to closure.

Choose a sales funnel building tool
Simple tools like Google Sheets, which can track deals and contacts, are great for getting started. As your business expands, you may want to consider specialized funnel building systems, such as CRM systems.

A CRM system clearly tracks deals at every stage of the sale and stores all deal-related information. Managers automatically receive reminders and tasks, which helps to effectively manage the sales process, and your team can focus on driving deals to successful closure.

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Create separate funnels for different products or segments
If your business offers different products or works with several types of customers, develop separate funnels for each segment. This will allow you to flexibly manage sales, taking into account the characteristics of different groups.

Calculate the ideal sales funnel size
Once you have a sales goal, divide it by the average deal value to find out how many deals you need to close. Then, using the average conversion rates for each stage of the funnel, calculate how many leads you need at each stage. This will help you build a realistic and effective sales funnel that will help you achieve your business goals.

Constantly improve your sales funnel
Once you have your sales funnel up and running, it’s important to maintain its effectiveness and continually improve it. One way to do this is to not keep deals in the active funnel that have a near-zero probability of closing or deals that are significantly delayed in closing.

You should also carefully review and update the data in the funnel to have up-to-date information about each deal. Regularly discuss key deals with the team and look for optimal solutions for their successful closing. Work with new sales methods, for example, the SPIN method .

Effective sales funnel in NetHunt CRM