Some Marketing Fundamentals

ASSIGNMENT FOR SESSION 6

SUBMITTED TO:
PROF. JOYDEEP BISWAS

SUBMITTED BY:
SEC-A
GROUP – 12

ADITYA SHANKAR SENGUPTA – 19202002

NIRABHRA PAUL - 19202024
ANUJA RAY – 19202072
DEBASMITA JENA – 19202078
1. What is Sales Funnel?
Ans: A Sales Funnel which is also known as a purchase funnel, portrays the journey of the
customers while they make a purchase. It basically means that every sale starts with a large
number of potential customers but only a small number of people actually makes a purchase.
It is also a process by which the company finds, make it eligible, and sells their products to
the customers. Sales Funnel are generally divided into 4 stages:
 AWARENESS – At this stage, there are largest amount of customer prospects where
they observe a problem and they know they need to start looking for solutions. Here,
they come to know about your company, products and services of your company by
ads, social media marketing, etc.
 INTEREST – Here in this stage, the customers looks for the solutions and certain
ways and methods to reach their goals. They search everywhere they can but most
probably they google and this is the main time when you can create some nice content
and attract them. This is the moment where the customer will indicate their interest in
your company and its products where the customer will then subscribe to the list of
the company after following you on social media platforms.
 DECISION – Once the customer has observed the problem, searched for solutions,
become aware of your company and answers to his questions, the main part that now
remains is the decision he takes. The customer will want to learn more so he will be
more attentive towards what you offer. This will help the customer in making the
decision.
 ACTION – This is the final step where the customer has decided to buy the product
and become part of your business ecosystem.
But here you should remember that there is still some work that should be done like feedback
form, ask for reviews and customer services. Every company has their own sales funnel, so it
varies.
2. Explain the process of lead generation in an Edtech company like Extramarks.

Ans: The following is the process to generate Edtech leads:
 Developing a strategy and SEO Content – Since the target audience is chidren or
young adults, it is important to have content that would attract them. The contents can
be in various forms such as blogs, eBooks and videos. This will ensure target
audience will start accessing such content. Extramarks can then share their website
link with the correct and interactive landing page.
 Conduct Webinars – It is even better if the webinar is live and the company can
generate and give out information that is real time. Hosting such webinars can help
generate leads if the content is engaging. EdTech companies get influencers who are
famous among the young generation. This not only helps in generating credibility, but
also drives in leads.
 Social Media Posts – Interactive and a fun social media page plays an important role
in generating leads. The EdTech companies such as Extramarks utilise these social
media pages to popularise among their target audience mock tests, quizzes and all the
exciting learning material that they have to offer.
 Testimonials – These also play an important role in the lead generation process.
Clients that have already used the service are asked to give referrals and also
testimonials that are adequately marketed. There are referral bonuses that are given
and this drives leads and interested customers. People are more likely to buy a
product/service that was made familiar to them by their friends/relatives. We notice,
these companies often send out forms after we have availed of their service. They
then ask us would you like to refer? If the answer is yes, options of adding name,
number and email ID pops up. This helps in sales employees to get in touch with
target audience.
 An important task for EdTecg companies are to ensure proper inbound marketing
takes place. Thus, those customers who reach the landing page of the website, must
find it interactive and click on various sections and sub-sections in order to learn more
about their offerings.
EdTech companies keep a track of the number of people landing on their page, the
open rate and click rates of their mails, the view on social media posts. These then
become the database to start cold calling. Cold calling is an important process to
generate leads by nudging interested customers to look at their services one more time
in case they have shown interest but for some reason not made the final purchase.
3. What is a Cold Lead, Warm Lead and a Qualified Prospect?

Ans: COLD LEAD – The cold leads are those people or companies who never showed any
interest to the products and services of your company and get irritated or annoyed if being
contacted them any means. These are the least easy to convert because they never checked
your website or social media platforms. Sometimes people just surf around and they just
register or fill in the details for promo codes but have no interest in buying the product.
WARM LEADS – Warm leads are the people who have actually shown some interest in
your products or your company. You will be able to know this by seeing that they might have
gone through your social media profiles and have followed you or registered in some
campaigns or signing up for newsletter or updates. These are the people who wants to know
more about your company and wants to purchase products. These are a bit more valuable than
the cold leads but they also need nurturing.
QUALIFIED PROSPECT – Qualified Prospects are also known as Hot Leads. These are
the people who have shown high interest to your products and services and communicates
and engages almost immediately with your company. They will be ready to contact the
company for sale because they will be prepared by researching about everything in your
company and are ready to move ahead with the process.
Q4: What conditions should a Lead fulfil to be categorized as a Qualified Prospect?
Ans: One of the most widely used process to qualify a lead to a prospect, BANT opportunity
identification criteria is used. BANT stands for Budget, Authority, Need and Timing.
In this process, opportunities are identified by speaking to the prospective customers and
determining their needs. If a prospective customer fulfils three of the four BANT
requirements, then they are qualified as a prospect.
 Budget is the amount of money the lead is willing to spend on your product.
 Authority is the person making the purchase decision for the customer.
 Need is the problem the customer is trying to solve with the product.
 Timing is the timeframe in which the customer wants to implement the solution.
Q5: What all should you plan for before visiting a Prospective Customer?
Ans: Before visiting the prospective customer, we should do the following things
 Define your goals- Write down specific questions that are relevant to your potential
customer’s needs, pain points, buying behaviours, business, and industry. Listen and
take notes so that you can be prepared for what the potential buyer will say. Limit
your questions so that the meeting feels like a conversation and not an interview.
 Structure the meeting- Creating a structure for the conversation will help to start the
conversation and moving it in the right direction. Then map out how shift the
conversation from one topic to the other so that we can collect all the required
information.
 Know your value- A salesperson a very short amount of time to catch the customers
interest. We should clear what all the questions of our prospective customer, explain
all their concerns, address their needs and guide them through the whole process, so
that they have a positive experience.
 Research- researching about the information on our prospective customers as well as
about the product and the company of our customer should be done beforehand. This
will help us understand the customer better and address their needs and wants
properly.

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ASSIGNMENT FOR SESSION 6

ADITYA SHANKAR SENGUPTA – 19202002

2. Explain the process of lead generation in an Edtech company like Extramarks.

3. What is a Cold Lead, Warm Lead and a Qualified Prospect?

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