There has been a lot of buzz surrounding the transformation of the sales funnel lately. Per marketer beliefs, the evolution of digital media has influenced customer engagement brand approaches. This change in marketing trends has led to the evolution of the conventional sales funnel to the modern marketing sales funnel.
Customers are no longer what they used to be. The customers of the digital age do not travel from the top down; instead, they define their journey based on their own agendas. For example –67% of the buyer’s journey is now done digitally. In addition, 84% of decision makers use social media to make purchasing decisions.
This ever changing buying behavior has forced sales reps to adapt over time. Although the standard stages of the traditional sales funnel remain the same, what has changed is the marketing influence in each stage. Marketing now plays a much larger role in the customer’s buying journey.
About a decade ago, marketing was responsible for bringing leads into the sales funnel and the conversion of leads was solely to Sales. Today’s sales landscape has changed drastically compared to that of the past. Marketing is now responsible for nurturing and guiding leads through each stage of the sales funnel until a purchase intention is clear. This has led to the collaboration between the two departments – sales and marketing.
The following infographic illustrates how the traditional sales funnel has transformed into a modern marketing sales funnel.