The sales funnel is a fundamental tool that depicts and describes your sales process. At the top of the funnel rest a bunch of leads, which have reached you via your marketing team, inbound marketing techniques, advertising, referrals and the like. As the sales team sifts through those leads and identifies the ones which will actually result in a sale, that list gets smaller and narrower…and finally you have a segment of targeted sales opportunities who you can pursue, and generate into customers. Sounds easy enough. But in reality, the sales funnel doesn’t always flow that smoothly.
First comes the lead: this is any individual or business who may have a use for your product or service. Your lead fits the profile of your target audience, or the demographic you want to sell to. You haven’t yet interacted with the lead- but they are worth pursuing because they appear to be the right fit.
Next comes the qualification process. You interact with your lead and figure out whether they have a real use for your services. You provide these prospective customers with information, hold meetings and understand what their needs are. Your prospect needs to see value in your offering, as well as have the resources to implement it. You also need to map out a timeline for the execution of the project.
Once you have qualified your leads and prospects, you provide them with a proposal, address any other concerns they may have and come to an agreement. Once this is done, you can close the deal and execute the solution.
THE MISSING LINK
The stages have been easily mapped out, but there is a huge jump from ‘lead’ to ‘committed customer’ and ‘final sale.’ We all know that leads don’t qualify overnight- and prospects most certainly don’t agree to buy in a day either. There is a flurry of activity in this middle space. Meetings, telephone conversations, emails, proposals and information exchanges, demos…and along the way, some prospects become customers and bring in a profit, while others fall off the radar.
This is the section you need to measure- how and why are those prospects falling off the map? What are you doing right in the situations where prospects convert quickly? Salesvue focuses on exactly this – how to uncover the steps that have led to securing those deals. Salesvue helps you record and analyze that middle part of the sales funnel where all the actions and conversations take place. Who you are interacting with, how often, via what medium and for how long. Salesvue lets you log calls with a one-click call screen, so you can identify which times of the day and days of the week are best suited to conversing with prospects. Plus, you can measure productivity and replicate the exact steps that led you to success. Learn exactly how here.