Name:- Sunil Someshwar Eklare

Cell No:- 8421111817

Mentor Name:- Nishmitha

Q1. What is a sales funnel ?

Answer:- A sales funnel is the marketing term for the journey potential customers go through on the
way to purchase. sales and marketing automation software can plug those sales funnel holes and turn
near-misses into sales.

Q2. What are the process and stages involved in making a sale ?

Answer:- . Prospecting

The first of the seven steps in the sales process is prospecting. In this stage, you find potential customers
and determine whether they have a need for your product or service—and whether they can afford
what you offer. Evaluating whether the customers need your product or service and can afford it is
known as qualifying.

Keep in mind that, in modern sales, it's not enough to find one prospect at a company: There are an
average of 6.8 customer stakeholders involved in a typical purchase, so you'll want to practice multi-
threading, or connecting with multiple decision-makers on the purchasing side. Account maps are an
effective way of identifying these buyers.

2. Preparation

The second stage has you in preparation for initial contact with a potential customer, researching the
market and collecting all relevant information regarding your product or service. At this point, you
develop your sales presentation and tailor it to your potential client’s particular needs.

3. Approach

In the approach stage, you make first contact with your client. Sometimes this is a face-to-face meeting,
sometimes it’s over the phone. There are three common approach methods.
Premium approach: Presenting your potential client with a gift at the beginning of your interaction

Question approach: Asking a question to get the prospect interested

Product approach: Giving the prospect a sample or a free trial to review and evaluate your service

7-step sales process: When to use it and when to break it

The 7-step sales process

Prospecting

Preparation

Approach

Presentation

Handling objections

Closing

Follow-up

If you are one of the 13% of employees in the United States working in sales, you know that even for the
most natural salesperson, it can sometimes be difficult to turn potential leads into closed sales. Across
different industries, you need different skills and different knowledge to prove to your potential
customers that your solution is best for their particular problem.

The seven-step sales process outlined in business textbooks is a good start, especially since 40% of sales
teams don’t have a playbook—and a playbook or sales strategy makes you 33% more likely to close sales
at a higher rate. The seven-step sales process is only a good start, though, because you need to
customize it to your particular business—and, more importantly, to your target customers as you move
them through the sales funnel.

7-step sales process

Overview of the 7-step Sales Process (Click on image to modify online)

As the old adage goes, “Learn the rules like a pro so you can break them like an artist.” Once you’ve
mastered the seven steps of the sales process you might learn in a business class or sales seminar, then
you can break the rules where necessary to create a sales process that, like a rogue cop in a bad TV
show, doesn’t follow procedure but gets results.

The textbook 7-step sales process

What are the seven steps of the sales process according to most sales masters? The following steps
provide a good outline for what you should be doing to find potential customers, close the sale, and
retain your clients for repeat business and referrals in the future.

1. Prospecting

The first of the seven steps in the sales process is prospecting. In this stage, you find potential customers
and determine whether they have a need for your product or service—and whether they can afford
what you offer. Evaluating whether the customers need your product or service and can afford it is
known as qualifying.

Keep in mind that, in modern sales, it's not enough to find one prospect at a company: There are an
average of 6.8 customer stakeholders involved in a typical purchase, so you'll want to practice multi-
threading, or connecting with multiple decision-makers on the purchasing side. Account maps are an
effective way of identifying these buyers.

2. Preparation

The second stage has you in preparation for initial contact with a potential customer, researching the
market and collecting all relevant information regarding your product or service. At this point, you
develop your sales presentation and tailor it to your potential client’s particular needs.

3. Approach

In the approach stage, you make first contact with your client. Sometimes this is a face-to-face meeting,
sometimes it’s over the phone. There are three common approach methods.

Premium approach: Presenting your potential client with a gift at the beginning of your interaction
Question approach: Asking a question to get the prospect interested

Product approach: Giving the prospect a sample or a free trial to review and evaluate your service

illustration of people working together

Dive deeper into the various sales approaches you can use to start a relationship off on the right foot.

Learn more

4. Presentation

In the presentation phase, you actively demonstrate how your product or service meets the needs of
your potential customer. The word presentation implies using PowerPoint and giving a salesy spiel, but it
doesn’t always have to be that way—you should actively listen to your customer’s needs and then act
and react accordingly.

5. Handling objections

Perhaps the most underrated of the seven steps of a sales process is handling objections. This is where
you listen to your prospect’s concerns and address them. It’s also where many unsuccessful salespeople
drop out of the process—44% of salespeople abandoning pursuit after one rejection, 22% after two
rejections, 14% after three, and 12% after four, even though 80% of sales require at least five follow-ups
to convert. Successfully handling objections and alleviating concerns separates good salespeople from
bad and great from good.

6. Closing

In the closing stage, you get the decision from the client to move forward. Depending on your business,
you might try one of these three closing techniques.

Alternative choice close: Assuming the sale and offering the prospect a choice, where both options close
the sale—for example, “Will you be paying the whole fee up front or in installments?” or “Will that be
cash or charge?”
7. Follow-up

Once you have closed the sale, your job is not done. The follow-up stage keeps you in contact with
customers you have closed, not only for potential repeat business but for referrals as well. And since
retaining current customers is six to seven times less costly than acquiring new ones, maintaining
relationships is key.

Q.3 Differentiate marketing funnel and sales funnel ?

Answer:- we'll see Differentiate in 2 parta

1. Marketing Funnel:- Marketing is an integral business function that enables brands to increase visibility
and gain a competitive edge over the competitors. As such, a marketing funnel is a system that guides
potential customers through the entire journey; from the first time they interact with a brand, all the
way to the point where they develop the urge to buy a product or service.

A marketing funnel helps prospects get to know a brand. It is also renowned for enabling businesses to
visualize their buyer’s journey and come up with a sales support marketing strategy in a well-regulated
system. The marketing funnel can be divided into two sections:

Lead generation: This involves the creation of marketing campaigns to build brand awareness. Things
such as trade shows, inbound marketing, content marketing, viral campaigns, online ads, direct email,
whitepaper, and more, are used to sell the brand.

Lead nurturing: Once a prospect develops the interest in the brand, the next step is to nurture the lead.
This is where a business strives to build a thriving relationship with the prospect. The prospect is
introduced to the product or service with tailored content to help them consider making a purchase.

2) Sales Funnel:- The marketing funnel usually focuses on presenting a brand to diverse audiences. Its
goal is to capture prospects who can easily transition into buyers. When such prospects are identified,
and they develop an interest in the product or service, they enter the sales funnel. At this point, the
prospect becomes a sales prospect.The sales funnel can be defined as the system that guides a sales
prospect from the takeover stage (marketing) to conversion. The funnel is at the narrowest end of the
cone-shaped marketing funnel.

Other tools used to optimize sales and marketing funnels include:

Email marketing tools

Sales tools

Prospecting tools

Outreach tools

Advertising tools

Email address finders

Lead generation tools

CRM tools

Q.4 If you're facing any objection from your leads and how are you going to overcome them in order to
convert them to a valuable customer of our corporation?

Answer:- i will take the time to listen to the objection fully. I'll not react defensively. Train yourself to
ignore any negative emotions you may be feeling. I'll keep focus on what the buyer is saying and the
business problem I'm helping to solve.

Q. 5 Explain the sales funnel with a real time example or a case study.

Answer:- Imagine that you own an ecommerce business that sells vintage signs. You know that your
target audience hangs out on Facebook a lot and that your target customers are males and females
between 25 and 65 years of age.You run a fantastic Facebook Ad that drives traffic to a landing page. On
the page, you ask your prospect to sign up for your email list in exchange for a lead magnet. Pretty
simple, right?

Now you have leads instead of prospects. They’re moving through the funnel.Over the next few weeks,
you send out content to educate your subscribers about vintage signs, to share design inspiration, and
to help consumers figure out how to hang these signs.At the end of your email blitz, you offer a 10
percent coupon off each customer’s entire first order. Bang! You’re selling vintage signs like crazy.
Everyone wants what you’re selling.Next, you add those same customers to a new email list. You start
the process over again, but with different content. Give them ideas for gallery walls, advise them about
how to care for their signs, and suggest signs as gifts. You’re asking them to come back for more.There
you have it
Thank You

Sunil Eklare