Do you have a marketing and sales process in place to keep track of your prospects and leads? If not, now is the time to create one. Creating a process is crucial to generate new leads for your business. You will be able to easily test and measure your marketing by following the Sales Funnel. Read more in this article about how this funnel works!
In previous articles, I've talked about the importance of generating leads (see here). However, we cannot just simply get a new lead whenever we wish. Instead, we should develop a Marketing and Sales Funnel Process.
Start by identifying your target market, or “suspects”, and what their needs or wants are that you are solving. Through our marketing efforts, we communicate to this group how we address their needs or wants and communicate our sales niche. We also need to provide an offer and a call to action (CTA) that gets them to respond (watch this video to learn more).
After our target responds to our marketing, we want to pre-qualify them to determine if they are ready to purchase the service/product we provide and if they have the budget to match our price. After we pre-qualify them, they then become a prospect. Then we want to move them to the next stage of our process when they ask to learn more about what we offer (ex. they request a proposal).
The most important thing about all of this is that we have a process in place and are testing and measuring our numbers. Measuring is important because if we have determined that we need 5 leads a month, we also need to know how many prospects we need and therefore, how many suspects we need to market to. If we don't know our numbers, then we are simply shooting in the dark and hoping that we will hit our goals. Conversely, if we know our numbers then it simply becomes a numbers game and we know how much activity we need to complete each month to hit your numbers.
This, of course, can sound a lot easier than it is to execute. It takes time to build a tracking mechanism (I use excel and track my activity over time to understand what my conversion rates are). With my conversion rate information, I can then determine how many suspects and prospects I need each week in order to reach my lead goals. From there, I set up weekly Key Performance Indicators to hold myself accountable for doing the required activity.
I’m happy to share with you more about how I create and manage my Sales and Marketing Funnel. Together we can create a sales funnel template. Just schedule a coaching call with me and we can create a plan for your business.
Here is an article for tips on how to sell.
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