Build a High-Performing Sales Funnel
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This document outlines a sales funnel model and discusses opportunities to improve lead conversion rates. It describes the traditional funnel approach of focusing on selling activities. It then introduces building a wider funnel by targeting suspects, prospects, hot prospects, and qualified leads over time. The document notes that as leads move through the funnel, the number that convert drops off significantly. It identifies that typically 96% of qualified leads are unsold, representing a major opportunity to increase sales through follow up marketing like drip campaigns.
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Build a High-Performing Sales Funnel
- 2. Index 1) AIDA Model 2) The new marketing & sales funnel 3) Traditional funnel: Selling activity focus 4) Building the funnel 5) What is Lead Drop-off? 6) What is the opportunity?6) What is the opportunity? 7) Using BANT 8) Customer Purchasing Stages 9) What is the top of the funnel? 10)What is the middle of the funnel? 11)What is the blockage point in the funnel? 12)Nine steps to success
- 6. Traditional Funnel: Selling Activity FocusTraditional Funnel: Selling Activity Focus
- 7. Traditional Funnel: Selling Activity Focus Prospect Qualify Make PresentationsPresentations Submit Proposal Close Monitor Results
- 8. Building The Funnel - Clients New ClientsNew Clients
- 9. Building The Funnel – Hot Prospects New ClientsNew Clients Hot Prospects
- 10. Building The Funnel – Qualified Qualified Prospects New ClientsNew Clients Hot Prospects
- 11. Building The Funnel – Suspects Qualified Prospects Suspects New ClientsNew Clients Hot Prospects
- 12. Lead Drop Off Qualified Prospects Suspects As leads move towards New ClientsNew Clients Hot Prospects As leads move towards sold, they drop off by a factor of 5 at each level
- 13. Starts with the Sales Goal 5 New Clients5 New Clients 5 New Clients Each Month
- 14. Determine Hot Prospects… 5 New Clients5 New Clients 25 Hot Prospects New Clients * 5 = Hot Prospects Needed
- 15. Determine Qualified Prospects… 125 Qualified Prospects 5 New Clients5 New Clients 25 Hot Prospects Hot Prospects * 5 = Qualified Prospects Needed
- 16. Determine Qualified Prospects… 125 Qualified Prospects 625 Suspects 5 New Clients5 New Clients 25 Hot Prospects Qualified Prospects * 5 = Suspects Needed
- 17. The Funnel… 125 Qualified Prospects 625 Suspects 125 625 Monthly 5 New Clients 25 Hot Prospects 25 5
- 18. The Funnel(Annually)… Qualified Prospects Suspects 1,500 7,500 Annually New Clients Hot Prospects 300 60
- 19. What Does This Mean? New Clients Qualified Prospects 60 Annually 1,500
- 20. What Does This Mean? New Clients Qualified Prospects 60 Annually 1,500 60/1,500 =4% Percentage of Qualified Prospects NOT sold 96%
- 21. What Is The Opportunity? In the typical company’s sales funnel 96% 96% of Qualified Leads Go Unsold That’s Called “Lead Leak”
- 22. Drip & Nurture Stops Lead Leak! You only need to sell an additional 4% of your qualified leads to double your sales volume! 96% Do it Drip & Nurture Marketing!