It’s simple. Sales and marketing drive every company’s profitability. If no one knows how your widget will meet their unique needs and without anyone to show them how it will, then you will be out of business in no time.
It’s simple. A well-designed sales funnel drives every effective sales and marketing department. If a company’s marketing and sales departments cannot work together with a common vocabulary and a unified plan, they will be a drain on the company’s resources rather than the drivers of success and profitability they are meant to be.
The sales funnel is an image used to represent this unified plan for moving prospects with no knowledge of the company to buyers of the company’s widgets. The idea of a funnel is meant to illustrate the necessary process of informing and qualifying potential customers to determine the ones, who can actually use the company’s goods or services, then leading them to purchasing these goods and services from you rather than a competitor. Obviously, while “everyone in the world is a potential customer” sounds encouraging, in reality, only a small percentage of individuals or companies can actually use what you are selling.
Building The Best Funnel
Irrespective of what your company is selling, real human beings are buying your company’s goods and services. However low tech or high tech your company may be, at the end of the day, B2C and B2B customers both have certain real problems they are trying to solve and they are looking for someone to solve them. The sales funnel is simply a tool. It cannot replace the effectiveness of treating potential customers as real people with real needs. A well assembled sales funnel developed jointly by both the marketing and sales departments will provide you with the information you need to address your clients’ needs personally and effectively. Your sales funnel will determine how you identify potential clients, what channels you will use to reach your potential clients, where in the funnel will you use those channels, and at what point the potential client will be moved from marketing to sales, among other considerations. To move a prospect from awareness to interest to desire to action, your sales funnel may include factors as detailed as which member of the sales team will work with which clients. In the end, the sales funnel will illustrate your plan for the supportive accompaniment of your prospect from their discovery of your company to their discovery of the problems in their company your company can solve to their discovery of your company as the unique solution for their problems.
Designed and applied well, a sales funnel can increase three-year revenue growth 24% faster and three-year profit growth 27% faster, according to a study completed by SeriusDecisions, enviable growth numbers by any standard. All it takes to achieve similar numbers is hard work and faith in your company.
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