Setting Up the Sales Opportunity Funnel

If you think of selling and how your previous customers bought, you will likely find that the highest conversion happens after a sales opportunity at the bottom of the funnel. You had a conversation of some sort before they decided to accept your proposal or product order.

Before the high conversion sales opportunity comes, there are a lot of low conversion events that have to take place within your sales funnel such as:

  • Nurturing and follow-up. Keeping relevant information, interest and conversations going consistently on a weekly basis.
  • Attraction and attention. Getting through the noise and allow people to find you online or notice you on social channels.
  • Positioning and branding. Ensuring anyone that lands on your site or pages understands who you are, what you do and why you matter
  • Sales metrics and dashboards. Keeping the relevant digital information front and center so you can act and react to trends and information on a macro scale for engagement.
  • Initial engagement. Reacting with speed to interest on your store front, site or landing pages and persuading people towards a next step.

The setup of a sales funnel has to be done with the customer journey carefully crafted. Then from the initial assumptions, you have to watch carefully and test how the customer travels through the funnel.

At each conversion point, you can do A/B testing to see what makes sense to improve sales conversions.

The goal is to set up the high conversion sales opportunities at the bottom of the funnel. If you can get the opportunity, then the sale becomes a formality. It’s a bit of art and engineering combined with feedback from reality.

Do you have a sales opportunity funnel built? Or are you heavily focused on one part of the sales funnel?

Consider partnering with us to help you build more sales opportunities for ROI.

Qualifying Sales Opportunity Funnel Leads

Trying to talk to the whole world? How about narrowing your sales funnel?

There’s always that dilemma when designing and working your sales funnel. Your pipeline can be artificially fat if you let everyone in without some criteria on who is worth talking to for a sales conversation.

On the other hand if you are too narrow in your qualification criteria, you can miss opportunities that a good salesperson could convert.

Qualification is something that can help throttle the sales funnel so you are efficient and giving your team the highest probability chances to engage with and convert sales prospects.

When designing how to set up your sales opportunity funnel, consider allowing your leads to self-qualify. You can use simple criteria such as the BANT (Budget, Authority, Need and Timing) method in your questions:

  • What is your budget?
  • Are you or someone else responsible for making a decision on this product?
  • What is your need and how do you see our solution fitting?
  • Are you planning on buying now? If not, then how long before you decide?

Based on the answers you get either in online forms, sales engagement chats or initial discussions, develop a handoff with your sales opportunities to the right closing conversation team member.

They would then be responsible for converting the sale or negotiating and following up with the qualified lead until a “Yes” or a “No” is the outcome.

Not everyone is ready or wanting to buy and your design of the qualification process can keep your sales resources allocated to talking to the right people at the right time. You don’t want to waste cycles talking to unqualified people in your funnel. Allow your nurturing and messaging to do the work of creating interest and extracting their qualification based on their need and timing.

If you look at how efficiently your sales team is working, are you using qualification to set them up with the most optimal sales conversations? Want a better sales strategy?

Keeping the Sales Opportunity Funnel Continuous

Sales never ends. Your business exists to service customers that find value in what you offer. The challenge of keeping your sales opportunity funnel continuous for deal making has to be a primary strategy that you address.

Ultimately, there are a limited set of strategies to work with new customers. It’s best to analyze your market and how buyers engage similar offerings with competitors in benchmarks.

Furthermore, you can take a look at your existing customers you have won and examine how they became customers. Then invest your budget, resources and attention towards those places that have worked. Refine the approach to attracting new prospects and keep conversion metrics front and center on a monthly basis.

For those prospects that do express interest, you have the task of nurturing, following up and educating them about the benefits of your offering. A system that will touch a person multiple times, perhaps even a dozen times over many months is required. You may start this with people on your team that are service-oriented.

The metrics for sales conversion here have to be gathered and analyzed for continuous improvement as well. Your messaging and efficiency that comes from top performers on your team can be examined for what the key influencing points are and that can be magnified for sales efficiency.

The sales opportunity funnel often has a lot of moving pieces and data builds up over time. To keep the sales conversion working over time and the funnel full, you have to see what truly works and where to emphasize more of your efforts and resources.

Start by establishing a baseline of metrics that you can examine and track over time. From there, watch what is working and what is lagging. Your industry benchmarks will shed light on what is a reasonable goal.

Keeping your sales funnel continuous requires tweaking and upgrading where the data leads you. It’s an exercise in continuous and vigilant management and analysis practices.

How are you tracking your sales conversion metrics for efficiency?

Know Your Sales Opportunity Funnel Data

 

There is typically an enormous amount of data that is part of your sales process. From when anonymous followers view your content to their eventual purchase of your product or service, there is a trail of behaviors online.

The buyer journey tends to be different for various profiles, but overall there is a sales opportunity funnel that develops to tell a story of how a stranger becomes a friend and a friend becomes a customer.

Assume that you can do better. With greater insights you can develop strategies that augment your current approach to selling. The systems, tools and conversion points can be identified and you can apply attention and resources to drive sales.

We like to start with a simple Sales Conversion Roadmap. It’s a simple way to gather all the information flowing into your business from social platforms, your landing sites and pages, emails and various other data sets and building a picture of what is going on in your selling.

Our team collaborates with you to draw out the information on your various sales approaches and works on building the insights into your data sets. From there, we share where the opportunities are to optimize and increase your conversions.

The strategies that come out of the data analysis constitute a roadmap that you can use to implement enhancements to your sales funnel for increased traffic and conversions.

Business today is not lacking in information. What is hard to gain is the meaning and insights about how your customers behave and what increases your sales.

A simple 1 week engagement with our team at a really low cost can give you answers that you may not be thinking about to increase your sales.

How is your sales opportunity funnel performing today?