Sales hourglass: the evolution of the funnel

[muskanislam25]

The sales hourglass aims to use existing customers who trust the company to generate more revenue and help the business grow. It is a complementary concept to the sales funnel, being an extension of the funnel we already know.

In other words, this concept treats the funnel differently, using the current customer base to extend the business' reach and profit.

In the funnel we are already familiar with, there is a top, a middle and a bottom. For many companies, the process ends when the person becomes a customer, when the purchase is made and they will measure efforts to get other potential customers to make the purchase. However, in the hourglass sales funnel, it is different. In other words, the effort is directed towards the existing customer base, generating revenue for the business.

The concept of a sales funnel emerged as a way to illustrate the steps a consumer goes through until they purchase a product or service. The main point of the change is that the consumer journey does not end with the purchase. It continues after the sale with customer service and retention.

The new funnel is nothing more than an adaptation of the processes we already know to new trends and customer behaviors. Think of the customer journey as something that should cover everything from branding to the highest level of after-sales: engaged and loyal customers.

This is the top, the widest part of the sales hourglass. At this point, the customer has identified with your company and feels that they like it. However, they still need to better understand your proposals Hong Kong telegram data to know whether they will continue to follow you. At this stage, the goal is to deliver value to the public. However, you should focus on quality, not quantity.

This is the only stage that is not directly related to the prospect’s problem. Likewise, it is not about the solution or the product. Here, the important thing is that potential customers find the company and have a positive interaction with it. After all, this is what will ensure that they advance through the stages of the funnel.



Lead: identifying the problem
After the first contact, the goal is for the customer to conclude that they have a problem and need to find a solution. This is the time to present challenges, opportunities for improvement and possible solutions. By doing so, you show the prospect how much better their life could be if they actually solved this problem.



Qualified lead: investigation of solutions
Now, the prospect starts to consider solutions and alternatives to their problem. The focus here is still on the solution and not the product. Therefore, presenting the benefits and differences of the solution is very important, that is, showing how their life will improve after solving the problem and if it is not solved, what could happen.



Opportunity: meeting needs
From this stage onwards, the focus will be on the product or service. Therefore, it is necessary to present the resources, differentials, values, success stories, among others.



Sale: quantification of values
This is the last stage before the purchase. Therefore, the customer evaluates whether he really needs this solution now. It is at this stage that the classic sales objections also appear and you must be prepared to overcome them.



Post-sales stage in the hourglass sales funnel


Retention: satisfaction and success
The priority here is to successfully implement the solution so that the customer quickly perceives value. Now, it is also essential to fulfill all the promises made. Furthermore, this is the stage of showing that your company cares about the customer's success. To do this, customers obviously need to achieve their goals with the solution purchased. You can help by showing the improvements and being by the customer's side. In this way, the company adopts a close and consultative stance. In addition to understanding the customers' difficulties and helping them to always go one step further.