Javascript must be enabled to continue!
Online sales funnel as an analytical tool for business efficiency management
View through CrossRef
The possibilities of online sales strategy analysis based on unit-economy metrics (Unit Economics is a new economic modeling method used to determine the effectiveness of a digital business model by assessing the profitability of a product unit or a single customer), as well as on the theory of restrictions, have been shown. The peculiarities of settings of problems on monitoring the process of attracting customers to the electronic resource of a company, and their support up to conclusion of commercial transaction (product sale) have been revealed. A scenarios matrix for promoting information about a product, a brand, or a service using various communication channels has been compiled.Among various strategies of a sales funnel management the following three main strategies have been highlighted: the strategy of a proportional expansion (when increasing a traffic at the entrance of a funnel, which gives a large conversion, the funnel expands at all next stages, and the output result is increased); the strategy of stretching (increasing of a conversion at each level results in the output increasing), and the strategy of a key level (this strategy demands to determine the level of the funnel, which limits the entire system, and to apply efforts to improve conversion indicators at this special level). A methodology for constructing and analyzing the product funnel using unit-economy metrics has been adduced. The peculiarities of development of strategies for sales funnel using the critical-chain method (Critical Chain Management, CPM) and method of Theory of Constraints (TOC) have been highlighted, when the company’s results depend on the interacting elements of the system, that create the constraints. A method of searching bottlenecks in the sales funnel has been proposed, which consists in a consistent assessment of the impact on the profits of each of its five basic metrics, for each of which there are special development tools, allowing one to find points of rapid profit growth. Scenario analysis of sales funnel using unit metrics has been сarried out.
Title: Online sales funnel as an analytical tool for business efficiency management
Description:
The possibilities of online sales strategy analysis based on unit-economy metrics (Unit Economics is a new economic modeling method used to determine the effectiveness of a digital business model by assessing the profitability of a product unit or a single customer), as well as on the theory of restrictions, have been shown.
The peculiarities of settings of problems on monitoring the process of attracting customers to the electronic resource of a company, and their support up to conclusion of commercial transaction (product sale) have been revealed.
A scenarios matrix for promoting information about a product, a brand, or a service using various communication channels has been compiled.
Among various strategies of a sales funnel management the following three main strategies have been highlighted: the strategy of a proportional expansion (when increasing a traffic at the entrance of a funnel, which gives a large conversion, the funnel expands at all next stages, and the output result is increased); the strategy of stretching (increasing of a conversion at each level results in the output increasing), and the strategy of a key level (this strategy demands to determine the level of the funnel, which limits the entire system, and to apply efforts to improve conversion indicators at this special level).
A methodology for constructing and analyzing the product funnel using unit-economy metrics has been adduced.
The peculiarities of development of strategies for sales funnel using the critical-chain method (Critical Chain Management, CPM) and method of Theory of Constraints (TOC) have been highlighted, when the company’s results depend on the interacting elements of the system, that create the constraints.
A method of searching bottlenecks in the sales funnel has been proposed, which consists in a consistent assessment of the impact on the profits of each of its five basic metrics, for each of which there are special development tools, allowing one to find points of rapid profit growth.
Scenario analysis of sales funnel using unit metrics has been сarried out.
Related Results
Effects of Sales-Related Capabilities of Personal Selling Organizations on Individual Sales Capability, Sales Behaviors and Sales Performance in Cosmetics Personal Selling Channels
Effects of Sales-Related Capabilities of Personal Selling Organizations on Individual Sales Capability, Sales Behaviors and Sales Performance in Cosmetics Personal Selling Channels
This study sets out to assess the effects of sales-related capabilities of personal selling organizations on individual sales capabilities, sales behaviors, and sales performance i...
Inside sales managers’ utilization of cultural controls as part of a sales control portfolio to enhance overall sales performance
Inside sales managers’ utilization of cultural controls as part of a sales control portfolio to enhance overall sales performance
Purpose
The purpose of this study is to extend sales control research to inside sales. Aside from a few notable exceptions (Conde et al., 2022) much of the sales control literature...
Optimising tool wear and workpiece condition monitoring via cyber-physical systems for smart manufacturing
Optimising tool wear and workpiece condition monitoring via cyber-physical systems for smart manufacturing
Smart manufacturing has been developed since the introduction of Industry 4.0. It consists of resource sharing and networking, predictive engineering, and material and data analyti...
Impact of Ethical Sales Leadership on Salesperson Behavior Performance in the Business-to-Business Markets of Pakistan: A Mediation Effect through Customer Orientation
Impact of Ethical Sales Leadership on Salesperson Behavior Performance in the Business-to-Business Markets of Pakistan: A Mediation Effect through Customer Orientation
Building and sustaining long-term customer relationships and adopting ethics may boost sales success. This is possible with ethical sales leadership. This is vital for all business...
The Effect of State and Local Flavored Cigar Sales Restrictions, on Retail Sales of Large Cigars, Cigarillos, and Little Cigars in Massachusetts, California, Illinois, and New York
The Effect of State and Local Flavored Cigar Sales Restrictions, on Retail Sales of Large Cigars, Cigarillos, and Little Cigars in Massachusetts, California, Illinois, and New York
Abstract
Introduction
In 2009, the Family Smoking Prevention and Tobacco Control Act prohibited flavored cigarettes but allowed ...
Implementasi Google Cloud Messaging pada Sales Mobile Application
Implementasi Google Cloud Messaging pada Sales Mobile Application
Abstract. Sales forces are fundamental to determine the smooth process on the marketing firm engaged in sales .One of the companies in the Magelang engaged in sales is PT. Armada I...
Innovative Optimization Techniques To Enhance The Competitiveness of Online Drug Retail Businesses.
Innovative Optimization Techniques To Enhance The Competitiveness of Online Drug Retail Businesses.
The objectives of this research were (1) to study the level of marketing strategies that influence the
competitiveness of Online Drug sales businesses (2) To study the factors of d...
Field sales management
Field sales management
In a fast-moving era of increased international competition, frontier markets must devise innovative ways to meet demanding sales targets and maintain profitability. These efforts ...

