The Importance of a Sales Funnel for a Business

How often does your organization review the sales funnel? 

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I just recently attended the Constant Contact National Solutions Provider Conference in Las Vegas, Nevada. It was an excellent conference with a wealth of information. I enjoyed seeing alumni’s and meeting new faces globally. This conference was all about ” Learn, Share, Inspire” from each other.  One of the key highlights for me was the importance of a sales funnel for a business of any industry and size. Building healthy business relationships and engaging with people generates inquires, qualified leads, opportunities, revenue. 

Let’s review the funnel process. 

Inquires

  •  Online-presence  with the prospect calling on the phone or sending an email 
  •  A referral from a client/customer 
  •  Direct mail response 
  •  Received a response from a brochure or a flyer

Qualified Leads

  • Ask the prospects specific questions 
  • What is your current marketing budget?
  • How long has the organization been in business?
  • What are your goals?

Opportunities

  • Networking at Chamber events and Business Groups
  • Meet up organizations
  • Educational seminars
  • SCORE events
  • Local community events 

Revenue

  • Monthly, quarterly yearly goals
  • Service layering
  • Partnerships 
  • Resale programs 

The benefits of reviewing the sales funnel on a quarterly basis

  • Keeps focus on inquires 
  • Review the revenue to see where adjustments can be made on pricing for goods and services 
  • Nurturing qualified leads
  • Reviewing new business opportunities
  • Helps to project reasonable goals and obtain them for the internal and external sales team