Explain the different stages of the SPANCO sales funnel from the perspective of a sales manager of an electronics store selling Mobile phones.
Question
Explain the different stages of the SPANCO sales funnel from the perspective of a sales manager of an electronics store selling Mobile phones.
Solution
The SPANCO sales funnel is a popular model used in sales to describe the journey a customer goes through from the first point of contact to the final purchase. As a sales manager of an electronics store selling mobile phones, the SPANCO sales funnel would be implemented in the following stages:
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Suspect: This is the first stage of the sales funnel where you identify potential customers who might be interested in buying mobile phones. These are people who have shown some level of interest, such as visiting your store or website, or have been identified through market research.
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Prospect: In this stage, you narrow down the list of suspects to those who are more likely to make a purchase. These are people who have a need for a mobile phone, the financial capacity to buy one, and the authority to make the purchase decision. You might identify prospects through interactions in the store, online inquiries, or follow-up calls.
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Approach: Once you have identified your prospects, the next step is to approach them with a sales pitch. This could be through a face-to-face meeting in the store, a phone call, or an email. The approach should be tailored to the customer's needs and preferences, highlighting the features and benefits of the mobile phones you are selling.
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Negotiation: After approaching the prospect, there may be a negotiation phase. The customer might want to discuss the price, features, warranty, or other aspects of the mobile phone. As a sales manager, you would need to handle these negotiations, offering discounts or additional services if necessary to close the sale.
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Close: This is the final stage of the sales funnel where the customer decides to make the purchase. You would finalize the details of the sale, process the payment, and arrange for the delivery or pick-up of the mobile phone.
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Order: In this stage, the order is processed, and the mobile phone is delivered to the customer. This stage also involves providing after-sales service, such as installation, setup, and troubleshooting.
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Customer: The last stage is not the end but the beginning of a relationship with the customer. You would follow up with the customer to ensure they are satisfied with their purchase and provide any necessary support. This stage is crucial for customer retention and encouraging repeat purchases.
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