To convert leads is more important than acquire leads. An integrated sales funnel approach takes you closer to optimal lead conversion more than anything else…
What’s a Sales Funnel and how it works?
CRM sales funnel connects and absorbs your leads, creating controlled and well optimized process for handling and converting leads. Rather than just being a primary contact point, a lead conversion channel helps you handle and optimize leads.
As name indicates ‘sales funnel absorbs and directs your prospective customers (Leads) into a single stream, eventually converting them into satisfied customers at outlet.
Like a physical funnel, a sales funnel possesses a wide mouth connecting multiple online and offline campaigns. It takes-in every lead coming through every medium, leading every lead through a unified lead management system.
A sales funnel is usually set-up using an integrated system like CRM, which receives and processes leads coming through multiple sources.
An incoming lead could be looking for an immediate purchase or making an enquiry based a passing interest. At either levels, the system puts leads into a hot or cold based on inquiry or manual entry. Later this entry is manipulated to form critical insights into business activity. For a hot lead the lead could be directly passed into deeper stages of lead processing. If a lead is cold, customer service automation can allocate later time where more time could be expended on convincing a particular customer.
When every business is trying to win-over prospects, funnel simulation can drive towards most optimal system to stream leads at various stages of your business.
Here a customer can set-up a future point of communication and possible increments in future.
For example, consider a Real Estate Business.
An interested prospect could take-up to a year to turn into a ripe customer. It requires businesses to forward thinking and strategic in their approach.
And this brings us to our next question.
Why it’s requisite to have a Sales Funnel?
There’s an old Indian saying that even when something is wasted, you should measure it!
But modern businesses rarely account for their incoming visitors or leads. Often a round number of visitors and total leads are assigned based on Google analytics feedback.
This rarely pictures a clear connection between clients their activities and your business. While analytics gives results on a short glance, you results cannot improved based on this wide overview. One needs a more effective system to receive and convert leads.
Every product or service involving a considerable capital investment, involves multiple point of contacts and call for responses. It’s often a lengthy and convoluted process.
A business should be able to differentiate and respond between serious and casual responses within a limited time window. One needs to prioritize. A sales system automates client responses and segregates into different section.
For running any business, one should possess a trusted and predictable revenue source. In an uncertain business environment, a funnel system can segregate and score on your potential lead sources.
A sales funnel clearly demonstrates leads at various stages of conversion. When a lead at primary stages couldn’t be accounted into immediate revenue, a lead at later stages could be taken-into account.
For most business a certain percentage for final revenue could be expected to turn into final customers.
Also a lead conversion channel helps you identify clients at each stage of business. It enables you to provide specific information required for each customer.
Thus a lead conversion channel also helps you foresee and predict the conversions for each sales person. This could form an important part of your performance evaluation.
One rarely has enough data for understanding conversions and likelihood of conversions in upcoming month or season. When looking to increase conversions, business should be able to clearly oversee interactions with all leads.
Businesses with sales Funnels have
A sales funnel is potentially equipped with means and methods to directly improve your business. These are direct means of improving your business through implementing sales Funnel.
Interactions based on your Client-perspective
Now you need not worry about irking your clients, when your calls are not welcome. A CRM system allows you to contact you based on a pre-set time table, making yoru client communication easy and effective.
Always Spot-on with Predictions
CRM system helps you increase your forecasting precision, allowing you to make increasingly inanimate predictions for your business.
Gain actionable insights
Every business has room for improvements. A CRM sales funnel systematize your customer interactions into a clearly decipherable form. Now you can communicate and acquire insights.
Share Successful Ideas and Processes
Even when a sales professional is being increasingly successful, his/her methods are often being kept under wrappers. Through a sales CRM integration, one can clearly follow a hierarchy of activities that led to success. Further this process can be integrated into sales CRM, allowing your sales team to duplicate success.