What would you say if I told you right now that I could reduce your Lead Generation costs by more than 20% and still achieve better conversions at no extra effort?
This is really where you start leveraging the power of data and systems thinking along your journey in developing a systematic sales process.
As I’ve mentioned already, developing the Sales Funnel is one of my favourite parts of business to work on and improve… It’s so important to develop a systematic approach to sales conversion and funnel development.. and this starts with building a feedback mechanism into your process.
In fact I will go one step further in saying that feedback is probably the most important aspect / sub process of the sales system. WHY? By continually improving the message, tightening the gap between what you got and what you lost, and why you lost it, you will sky rocket your conversions. This will have huge impacts on
- Cost of sales – greatly reduced
- Relying on generating leads – again greatly reduced
- And truly understanding the customer’s needs – greatly improved
Now the catch.. this requires a data gathering process where you will need to work with your sales team to define what are they key pieces of data they must walk away with from every touch point with a potential customer at every stage of the funnel. This takes a bit of planning, developing and tweaking but the rewards will speak for themselves when you do.. I always aim for between 3 – 4 standard pieces of data, and you get that by asking key questions. If every rep did that for every meeting / call / touch point they had with a customer, every day of every week of the month, just think of the quality data you would have around
- What customers liked
- What worked well during the selling process
- What didn’t…
- Why customers didn’t buy from you
and then.. there is no point in gathering all this data if you are going to do nothing with it.. It’s crucial to take action and continually assess are these actions having the impact you desire, if not tweak until it does.
This is an iterative cycle, every month focusing on approximately 3 major sticking points that comes out of the insights you develop. Once you get moving with this, you will never look back, and you will taking a major step forward in developing a systematic sales funnel!