What is a Sales Funnel? What is an Income Funnel?
It’s the latest and the greatest internet scoop. A strategy anyone can use to accumulate wealth beyond their wildest dreams. Sadly I am a slow learner. Shuffling slowly behind the crowd wondering what the hell is going on.
Apparently the “definition of the sales funnel (also known as a revenue funnel or sales process) refers to the buying process that companies lead customers through when purchasing products. A sales funnel is divided into several steps, which differ depending on the particular sales model. One common sales process is divided into seven phases including:
o Awareness Phase – in which prospects become aware of the existence of a solution.
o Interest Phase – in which prospects demonstrate interest in a product by conducting product research.
o Evaluation Phase – in which prospects or prospect companies examine competitors’ solutions as they inch toward a final buying decision.
o Decision Phase – In which a final decision is reached and negotiation begins.
o Purchase Phase – in which goods or services are purchased.
o Reevaluation Phase – in B2B sales it’s common for offerings to involve contracts that need to be renewed. As a customer becomes familiar with an offering, and especially as a contract draws to a close, a customer will enter a reevaluation phase during which they’ll decide whether or not to renew their contract.
o Repurchase Phase – in which a customer repurchases a product or service.
Inside sales managers commonly adopt strategies, tools and tactics aimed at optimizing each stage of their sales process.”
And there is nothing particularly remarkable in that.
It is a strategy. One that needs to be used and applied before it works. Which is where it starts to get interesting. The very fact that I am writing this post is proof enough that it works. I have been hooked.
Stuck somewhere between points two and three.
But this is the point at which I lose it. The fourth phase. The Decision phase. Impulse buying. This is where the internet is supposed to changing lives. It is supposed to be an information super highway giving us access to everything we need to make rational decisions. It is not supposed to get corrupted into a deluxe version of the age old “Chain Letter” phenomena.
It is not the strategy that does the damage, however. It is the people who use and abuse it. The people who fall for it.
It is not the internet that is at fault. It is not the internet or the advent of smart phones that are responsible for all the dumbing down and stupidity to come.
It is us. It is how we relate.
How we use the tools that are available to us. If we want to change the way things are we are the first that need to change. We need to relook at and understand what we, so blithely, refer to as free enterprise. What we understand as freedom and what we understand as enterprise. We need to understand the difference between socialism, social enterprise and free markets.
Yes it is possible to build a small business that can be run from home. Just as it is possible to start an online business and to build wealth beyond ones wildest dreams. But at the same time if we are going to make such radical changes to the way things are done, we should start by evalulating Googles rather trite dictum of “do no evil”.