is the foundation of each sale your company makes. Without this initial and necessary step, you are essentially setting yourself up for failure. So don't miss out.
How to do that? Be organized and purposeful.
Whether your leads are of the inbound
variety or are a result of outbound
efforts, it is wise to develop strategies and systems to keep everything organized and functioning. One of the best ways to do this is to create a sales funnel. A sales funnel
is a visual representation of the journey potential customers will go through during the buying process. It always starts with a lead and ends with a sale. Alternatively, it helps keep you organized and goal-oriented, and it is very handy for qualifying leads
Most likely you will be working with several different prospects, all with different timelines and facing different challenges that you can help them solve. A robust sales funnel will help you and your team keep all of it straight as you navigate each and every lead.
There are many reasons why building a sales funnel is important
for lead generation. Aside from the ones mentioned above, a few more I'd like to share with you are not only related to lead generation but to how the sales funnel can bring the lead full circle.
When you generate new leads you are also building new relationships.
As the leads are developed and qualified, you will become better acquainted with them and they with you. This can lead to a quicker sales cycle with a deal as the likely outcome.
Because a sales funnel is compartmentalized and systematic in nature, the cold leads you start with have a clear and defined path towards becoming paying customers. You always know what the next step is for them to take, and don't miss a single follow-up possibility
So the more structure you put around your sales funnel, the better off you will be.
Your sales funnel will also help you differentiate between the types of prospects you have so when it comes time to deliver your message through your outreach strategies (cold calling, social media connection
, etc.) you will be able to develop the right message for the right prospect.
Clearly, when it comes to lead generation strategy
, a sales funnel works as the north star that all your actions are planned around.
But it is not a one-size-fits-all solution.