Does this Apply to You? The concept of a funnel or pipeline in Sales and Marketing is nothing new. The effective use of the funnel has however been a subject of serious debate recently. Many believe that the funnel is not being effectively used.
Is your overall sales performance inconsistent? How does this affect your cash-flow? Consider for a moment how you look at the Sales Funnel.
If you are looking at the sales funnel only using the items under trailing indicators, you’re missing the opportunity to really affect the performance of your sales team – the horse is already out of the barn so to speak. However, if you are using the items under leading indicators to look at your funnel, you know that you have an opportunity to affect and coach your sales team during the month. You also need to consider the concept that a thin funnel with high velocity is much better than a fat funnel, assuming of course that you have enough high quality leads. Did you know that a 10% reduction in the sales cycle can increase productivity by 25%?
It’s also important to document, and measure, the sales process that is being followed. This will allow you to measure sales performance accurately, make changes as necessary, and share best practices.
The Right Tool for the Job Overview: Measurement allows you to get these results from Optimizing Your Funnel: Closing More Sales in Less Time, Getting more consistency Month–to-Month, Helping Individual Sales Reps Meet and Beat their Quota, Creating Individual Sales Person Coaching and Development, New and Ongoing Cash Streams are just part of how we help our clients here at RES.
RES has the processes, coaching, business tools, and partnerships to help business owners and sales teams learn to drive their business to the next level.
Example: One company had up and down sales months. The slow months were well under quota and this put tremendous pressure on the company’s cash flow, not to mention even more pressure on the CEO trying to juggle paying bills, buying inventory, and paying himself, which he did not do for many months. We set up a Funnel Safety Factor and drove each sales team to meet that with Proposals to Qualified Prospects at the step just before the Close. Over time, the slow months began to be less and less, even though this was in the teeth of the recent recession. There is nothing new under the sun when it comes to sales, it is all about using what makes sense for your company. The tool has to be simple, yet effective. The Funnel Safety Factor was the Right Tool for the Job.
What would be the Right Tool for the Job when it comes to help you Optimize your Funnel?
This solution is available in multiple formats: 1-to-1 or distance coaching.