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A funnel is the lifeblood of most businesses in today’s world. So by keeping it full at all times and optimizing for maximum conversion is paramount.
A streamlined sales funnel in Excel can help your business enjoy the following:
To gain in-depth insights into the performance of your sales pipeline, we recommend you use a Funnel Chart in Excel. The visualization is specifically designed to help you visualize the journey taken by leads before they convert.
If you’re an ardent user of Excel, you cannot access the graph because it lacks Funnel Chart native support.
It turns out you don’t have to ditch Excel for other pricey visualization tools. You have a viable option, which entails installing a particular add-in in your Excel to access ready-to-go Funnel Charts Excel.
In this blog post, you’ll learn:
A sales funnel is the marketing term for the target market goes through on the way to purchase.
There are several steps that make up a sales funnel in Excel, namely: top, middle, and bottom of the funnel.
Imagine this.
After a prolonged period of pitches and demos, chatter, and charm, the prospect drops out of the sales funnel without buying.
It happens less often if you optimize your funnel continuously for a higher conversion rate and revenue growth. Sales funnels Excel in most businesses are more like sieves, with holes left by patched-together spreadsheets, sticky notes, and forgotten follow-ups.
To optimize your funnel for growth and reduced drop-off rates, use a Sales Funnel Chart in Excel. The aforementioned chart can avail you of actionable insights for optimizing your funnel for positive returns.
Besides, you can use the chart to track your monthly performance in all three main sections of a funnel.
Keep reading to discover the best-suited Sales Funnel Excel for your business or workplace.
Check out the benefits of using Sales Funnel in Excel to track the journey taken by leads until they convert into buying customers.
A well-optimized funnel can drive revenue growth and conversion rates to sky-high levels.
Continuous optimization of a sales funnel in Excel is positively correlated to growth in the long run. The best sales chart to use to track productivity is a Funnel Graph
The way you describe your products, produce content, or talk to your clients has an effect on how driving them further down the sales funnel in Excel.
After identifying the funnel section of a would-be customer, you can easily change the tone of your copy, make well-directed content, or extend enticing offers to drive sales.
There’s a shared problem among the business owners, which is lack of direction.
In other words, they may have great ideas, but they fail to execute them because of a lack of tried and tested systems to make sales.
A proper understanding of how the sales funnel in Excel works can help you gain a competitive advantage over non-data-driven businesses. And the best place to start the aforementioned is using a Sales Growth Chart to track daily, weekly, and monthly performances.
There is no perfect business model.
In fact, success does not really happen overnight. By understanding the sales funnel for Excel, you’ll have increased feedback on the working strategies that can grow your sales.
For instance, let’s imagine you’ve noticed that potential clients in the decision section (mid-area of a funnel) choose to purchase another product because of your pricing. You can easily overcome the obstacle by optimizing for higher results.
Do you often find yourself running money-draining marketing strategies that yield minimum to no results?
A sales funnel Excel provides a starting point in diagnosing problems, such as declining conversion rates, and revenue growth.
The hottest leads are those that are in the mid-section of the funnel. You just need the right sales copies to tip them off to the conversion side. For instance, you can use customer testimonials and product reviews to accelerate their movement towards conversion.
A Funnel Chart is a visualization you can use to visualize the journey taken by leads until they convert into customers.
It’s shaped like an upside-down pyramid or a real-life funnel. And it’s broad at the top and narrow at the bottom. The visualization design is divided into the following: total market, prospects, leads, and sales, as shown below.
Let’s take a look at the stages in detail.
The stages of a Sales Funnel in Excel are aligned to mirror the AIDA model, which stands for awareness, interest, decision, and action, as shown below.
When someone first becomes aware of your product, they become leads or prospects. The aforementioned usually results from advertising, referrals, Google searches, social media, etc.
If the message your target market encounters aligns with their needs, they’ll move from awareness to the next stage, interest.
Now that prospects know about you, it’s time for them to determine whether you have the qualities they’re looking for. They might explore your pricing, company, reviews, and other products.
Also, leads can explore your competitors at this stage. Essentially, they’re interested in you, but they need confirmation before deciding.
At this point, your prospects have enough information to decide on a purchase. To transform prospects into leads, you can offer promotions, case studies, or information that increases your authority. Data driven decision making always bring bounteous results.
You can also use the principle of scarcity to drive them to action.
To convert leads into buying customers, you’ve got to make their whole journey seamless.
The faster you can move leads through each step, the higher the chances of landing the sale. If they decide against buying, use the information you’ve gathered to stay in touch.
A Sales Funnel Chart for Excel is a type of visualization that shows progress through a series of linear and interconnected stages that are aligned with the awareness, interest, desire, and action (AIDA) model.
Besides, it’s best suited in visualizing sales data because it’s amazingly easy to read and interpret.
Businesses use the chart to show how the number of potential sales prospects gradually separate from buying customers. The declining number of participants at each stage is reflected by the size of sections in a Funnel Chart.
For instance, let’s imagine 1,000 people saw your advertisment. Of the 1,000 users, 600 of them clicked on your it. And 300 users downloaded your product catalog.
By tracking the aforementioned process over time, you can set goals to have fewer people drop off at certain or all stages.
As we said, a Sales Funnel in Excel is shaped like an inverted pyramid. The top of the funnel represents the awareness stage. In this stage, the target market does not know your brand and its offering.
As you trickle down to the interest stage, the number of online users decreases before turning into prospects. At the desire section, where prospects turn into leads, a further reduction is recorded.
The last section is the action. It’s the area where leads turn into customers and brand evangelists. Optimizing a funnel entails patching up the areas with significant drop-off rates.
Analyzing funnel data is not a walk in the park, especially if you don’t have the right visualization tool.
If Excel is your go-to data visualization tool, accessing Funnel Charts is impossible.
Excel is a trusted data visualization tool because it’s familiar. But this spreadsheet application should not be your go-to Sales Funnel Excel maker, especially if you want to harness actionable insights.
Why?
The freemium spreadsheet tool does not natively support funnel charts.
You have an option of downloading and installing a particular add-in in your Excel called ChartExpo.
ChartExpo is an incredibly intuitive add-in you can easily install in your Excel.
With more than 50 ready-made visualization designs, ChartExpo turns your complex, raw data into compelling and easy-to-digest visual renderings that tell the performance stories in real time.
This section will use a Funnel Chart to display insights into the table below.
| Steps | Total Intake |
| Total Market | 232,000 |
| Prospects | 94,480 |
| Leads | 47,390 |
| Sales | 22,181 |
A sales funnel is the marketing term for the target market goes through on the way to purchase.
Several steps make up a sales funnel in Excel, namely the top, middle, and bottom of the funnel. A continuously optimized funnel can lead to astronomical conversion rates.
Understanding the concept of sales funnels in Excel is important because you can easily preview the customer journey from awareness to conversion.
You can easily use a Sales Funnel in Excel to fine-tune the following:
Visualizing processes, such as the journey taken by prospects until they convert, is easier said than done. You need a specialized Sales Funnel in Excel to extract reliable and actionable insights.
A Funnel Chart is tested and proven in extracting hidden, actionable insights into a funnel. The chart is divided into four sections to mirror the awareness, interest, desire, and action (AIDA) model.
And these sections are total market, prospects, leads, and sales.
Excel is not the recommended visualization tool if you intend to save time by accessing ready-to-go Funnel Charts for your data stories. This spreadsheet tool lacks Funnel Charts in its library.
So what tool do we recommend?
We recommend you install third-party apps, such as ChartExpo, into your Excel to access ready-made Funnel Charts. It’s an add-in you can easily download and install in your Excel spreadsheet.
The iconic visualization tool is loaded with ready-to-use to interpret Funnel Charts, plus over 50 more advanced visualizations.
How to create a Sales Funnel Chart in Excel should never be a stumbling block to you.
Sign up for a 7-day free trial today to access easy-to-interpret and visually appealing Sales Funnel Charts in Excel.
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