Fecha: 30 junio, 2023

Funnel sales: what you need to know so you do not get fired

The sales funnel is a vital tool in companies. The less companies know about their KPIs (key performance indicators), the less likely they are to meet their revenue goals. According to  HubSpot statistics, 74% of the companies that do not exceed their income objectives, is because they do not know their visits, leads, MQL (qualified leads, according to criteria of the Marketing team) or sales opportunities.

So here I will describe what you need to know to create a successful sales funnel in your company; its characteristics, stages and some additional tips.

1. The basics of your strategie 

I know we always say it (and if it’s the first time you read us, you’ll notice in other articles), but it’s super important that you define your buyer personas (ideal customers), so you know who you’re talking to, how, by what means and what will you speak to? Why is it important? because this will help you generate traffic to your strategies, the more sense you make to your target audience, the more you will connect with them and the more engagement and reach you can have.

2. People that react to your advertising 

In this stage of your sales funnel is measured, from the people who saw your advertising, how many reacted in some way (they read it, they wrote down the number, etc). Usually with the traditional and massive media it is difficult to know this accurately, first because it is impossible to know how many people saw you, and then how many had some reaction with your advertising.

In digital strategies, if they assemble well and with caution, it becomes much easier this step, it is measured with the visits you have in a banner, article, web page or what corresponds. More technically, it is the CTR (click through rate, for its acronym in English), and is a percentage that divides the number of clicks among the total reach achieved; In this way you will know the effectiveness of your campaign.

This becomes very important for marketing people, because at the end of the day we must show that what we are doing is giving results.

3. Generated leads

Once you got the attention of people, the next step is to get them to say  «it sounds interesting to me» and get some contact information from it. This is called «leads«.

To achieve this, you must tell them what the next logical step is: take a free trial, call us for X reason, etc. Give them a reason to do so, it must be a win-win to keep their interest and to enter voluntarily in your sales funnel and no, I’m not talking about discounts, but to provide value, and to know how to provide them value, we must know very well our buyer people. This is called «Call to action», which helps you obtain the data (at least name and email) of the interested persons in exchange for a value offer.
Related Topic: How to use a blog as a sales strategy

To measure the leads generated, you divide the people who «pay you with their data» the value offer, among the total number of visits.

4. MQL (Marketing Qualified Leads) 

You must be very careful, because the fact that they have already given you their data does not mean that they already want to buy you. You must help them solve their doubts until they are ready to buy you. The more time you dedicate to your company, to your strategy, the more valuable the lead becomes for you.

In inbound marketing, part of its stages considers this, nurturing the lead with more information of adequate value for each of the stages of purchase. A person goes through 3 stages before buying (also called buyer journey):

The marketing team, according to the steps it has taken within the strategy, determines when a prospect is already interesting because according to the type of information that has been consulted, it indicates that it is at the right time to buy (it is already asking for comparisons with other companies, you want free advice … it depends a lot on your company).

This stage is measured by dividing the people who arrived at that stage (they spent some time, downloaded something, asked for something), among all the leads obtained.

5. SQL (Sales Qualified Leads)

Subsequently, the sales team must take these MQLs and it is up to this stage where it is recommended to contact them in a more personal way (by telephone, for example). Well before this is likely to run away because they will feel that you are a seller lurking.

Your team will make a connection call where you must discover essential things such as: the problem that can be solved by your company? Are they the right fit for your company: in size, money, etc? Is the person you’re talking to the decision maker? Is this the right time to sell or is it better in a couple of months?

At the same time, it is very important that you contribute value to the person so that they continue in the process. The rest of the process and you can define depending on the turn of your company, but it is advisable that both parties know where they are today, know where you can take them and then make the proposal. This serves to always see you as someone they can count on, and not as a seller anymore.

This stage is measured by dividing the SQLs between the MQLs.

 

6. Oportunities

This is where the issue begins to get more exciting, because they are the people who are very close to the purchase. But pay attention, according to our experience, I recommend strongly (because I can not force you), so that to catalog a person as an opportunity, get these checks:

  1. know if it is a good fit for your company (that is, it has the right customer profile)
  2. know that you are talking to the decision maker (or that it would be very feasible to climb with him)
  3. and yes they are at the right time to buy you

If you are missing any of these checks, my recommendations are the following:

  1. If it is not a good fit: do not forget it, remember that it is always good to have fans in the streets that speak for us and that bring others who can be potential customers with us.
  2. If you are not talking to the decision maker and you do not see the possibility of scaling to this, leave it there. If you make a proposal, it is highly probable that you will not achieve anything else that will give you long and waste your time.
  3. If they are not in the right time to buy you, as in point one, do not leave them in forgetfulness. Stay present for when they are, and you’ll see that you’ll be among your first purchase options.

This stage is measured by dividing the opportunities between the SQLs.

7. Clients

Well, there is not much to explain at this stage. Your customers are those people and they decided to buy you. And you will measure it dividing the clients between the opportunities.

Surely you’ll be thinking «At last!» … and yes, it may seem like an excessively long road compared to what you’re used to normally, but believe me, the results will be extremely different if you apply a vente process that suits the purchase. We are used to only selling to whoever is left, but that leaves us with the problem that we have to recurrently look for new victims (and yes, I say victims because we put ourselves in a hunting attitude). Everything is much more different when we adapt to what the market is looking for, and even better when we know who we should be looking for.

Or tell me, what have your experiences been? What do you think about this new sales process? Does it make sense to you?

For now I share a template for you to create the profile of your ideal clients, download it, gather your sales and marketing team and apply it … believe me: you will be surprised by the results (because we rarely stop to do this kind of exercises). Click on the box below to download it:

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