This is a guest post from tech writer Ivan Serrano.
The term sales funnel was coined way back in 1898, and the actual process has been in use for as long as businesses have been selling products and services. Times haven’t changed too much as the basics of the sales funnel has not deviated in the past century. However, the rise of social media has ultimately shifted the paradigm to one focused on marketing, building trust and brand loyalty. Companies have embraced social media as a way to connect personally with their audience but many still do not know how to convert their followers into paying customers.
This concept of “social selling” can be confusing to many marketers as it isn’t about selling your product, it is about building stronger relationships with buyers based on mutual empathy and a deep understanding of the problems they face. This new social sales landscape might not directly lead to sales, but nurturing these connections can improve your brand image faster than traditional advertisements. After all, in today’s landscape fewer than 25 percent of consumers actually trust ads while 92 percent trust peer recommendations. If you can increase the how many people share your updates and your page, you will definitely see your revenue skyrocket.
The infographic below will walk you through the six different steps of the funnel and the way that social media can help you nurture the sales funnel. As the social media landscape evolves, your strategy must stay up-to-date with the best methods for reaching your audience and generating revenue.