The sales funnel and Buyer Journey are two sales process models that are often confused. In this post, we’ll compare the sales funnel vs. buyer journey. You’ll learn about key differences between them as well as how each can help your business grow!
Before we get started, watch the video to see Russell Brunson explained what a sales funnel is and why it’s important in your business.
What Is the key Difference Between a Sales Funnel vs. Buyer Journey?
In short, a buyer journey is a more comprehensive version of your marketing funnel. It can answer questions such as the steps that customers take before purchasing your product or service.
If we look closer, we can see a few different keys.
1. A Sales Funnel is a conversion process, and the Buyer Journey represents all of the steps that happen to turn a visitor into a customer.
The buyer journey for any company is rarely straightforward, but depending on your business model and audience, it can range from relatively simple to incredibly complex.
According to Hubspot, the buyer journey describes how a customer’s path can be broken down into different stages. Simply put, it is like viewing your business as one long sales system that starts at point A and ends with B after going through all of the steps in between.
The buyer journey can be seen as a more detailed process of the marketing funnel.
So, what is a sales funnel?
In the world of digital marketing, it is easy to see that a sales funnel can be seen as being a series of pages designed intentionally by marketers in order for them to encourage visitors into taking one specific action.
Of course, the short and easy way to do it is to have one sales funnel.
But for those of you who are looking to really expand your business in a variety of ways or reach different markets, then we’d recommend having more than that – depending on what each goal maybe!
For example, the lead funnel is designed to give away freebies in return for contact information.
The goal of the Lead Funnel is to convert visitors into leads by giving out free goodies like a prize or an ebook in exchange for their email address so they can receive future offers and updates on what you are doing with your business.
In addition, having an email list that is growing and engaging your audience will help you get to the next level in business because It supports the transition from cold traffic -> warm traffic -> hot traffic -> customers.
In the other case, the application funnel is designed similarly to the lead funnel, but it requires visitors to provide more information. This means that companies can get an even clearer idea of who their customers are and make them feel like they’re getting a personalized experience while browsing through products or services.
The goal now is to collect an email address and have other contact information such as a phone number. After obtaining contact information, telesales can contact and consult products and services.
This funnel is often used to sell high-priced products or consulting services, agencies, and real estate. The plan for this type of sales campaign typically includes a dramatic product launch event where the company offers its top-tier service at an incredible discount as its first promotion.
This marketing strategy has proven effective when matched with various other strategies such as email campaigns, telemarketing calls, and social media advertising.
Ultimately, If you want to be successful in business, your target market must take the small steps necessary.
That’s where sales funnels come into play! Sales funnels encourage consumers driven by emotion and impulse purchase behavior to take those critical steps that ultimately drive the revenue and growth of any company.
2. Sales funnel is a part of the buyer journey
From what we analyzed above, a sales funnel is a vital part of the buyer journey, found in many different scenarios. It is available inside a larger funnel (marketing funnel.)
Inside the Buyer Journey can include many different sales funnels, each of which has a role in converting visitors to take specific actions at each different stage of the buyer journey.
A successful marketing strategy relies on a well-designed and effective sales funnel to ensure that enough customers are ready for your products or services at each stage of their life cycle.
3. The sales funnel is a set of metrics to track how many people responded to an offer, while the buyer journey is a road map of customers experience
When you’re building your sales funnel, the last thing you care about is conversion rate. The image below is an example of when we track a sales funnel.
For many, conversion rates are the primary concern when it comes to building sales funnels. But what is a funnel without traffic or leads?
Clearly, we need something more than just that if our goal is to win in this saturated and highly competitive market. This image depicts how we want to track our sales funnel.
Every business owner will be interested to know how many visitors become leads then become customers and how many people buy upsell products.
We’ll want to make sure that more people are buying their products to be successful for the company.
In the end, depending on the goal set, do these numbers achieve what we want?
- percence people convert from visitors to leads
- Profit earned at the end sales process.
It’s all measured in the sales funnel.
Meanwhile, for the buyer journey, you will also observe and understand all the processes.
However, it will be more general. It gives you a map of how your business reaches customers and what customers will go through, purchase, remarketing, etc., to become a happy customer ultimately.
The buyer journey can be considered a business plan, while the sales funnel is just one tool in this strategy. The stages they go through to purchase are mapped out ahead of time with tools like funnels and roadmaps. These tactics work together to help make your company’s goals for each stage more achievable than ever before!
Now, you understand the difference between sales funnel vs. buyer journey.
The customer journey from the first spark of interest in your product, through shopping and purchasing, all the way up until returning or being completely satisfied with their purchase.
To be successful in business, you need a sales funnel and buyer journey. For most companies, this means understanding their customers from the moment they land on your website or social media account until after they purchase something.
Once you have these key elements figured out, it should become easier for you to create an effective marketing strategy that drives sales without breaking the bank. If you want more information about setting up a sales funnel with content specific for each stage of the customer’s buying process, check out our blog post “The Ultimate Guide To Sales Funnels.”