Why Do You Need A Sales Funnel?

By September 16, 2014Sales and selling

I created this simple infographic as  a primer for those coaches, service providers and consultants who have yet to formalize their sales process.

I know, it’s just one more thing to think of! I recommend you look seriously at defining and building a system to maximize your sales pipeline. Doing this allows you to measure and improve your success rate at generating leads, converting those leads into clients and growing your revenue.

Most professional do not build a system that documents a list of clients and potential clients as well as how to communicate with them on an ongoing basis. The real value of any business is in the client base. Keeping in touch with your client base and having a range of products and services to offer optimizes Lifetime Customer Value (LCV).

Although it may appear a bit daunting you can develop your sales funnel piece by piece, adjusting as you go. The following are just 3 reasons to start on your sales funnel.

You Build A List

“The money is in the list”. This is an old and accurate saying. Building a list of interested, warm, potential clients has many benefits. Just some are:

If you are relying on SEO and organic traffic to a website for lead generation that’s fine. The risk here is Google and its ever changing algorithm. Some businesses have been wiped out overnight by Penguin and Panda updates to the search engines.

If you have built up a decent sized list that you can market to, you have insulated yourself and minimized risk.

You Keep In Touch

Ah yes,  once the client is won or the prospect is slotted into our diary they are not forgotten. We have a structure in place that communicates value and offers automatically whilst building trust and credibility.  Don’t we? This is a critical part of  moving prospects and existing clients through our sale funnel to do business with us.

If you ignore a client or prospect for long enough (just like a friend) they will go away.

You Maximize Lifetime Customer Value

If you are delivering value in around 80% of your communications with your list they will not mind hearing about your latest service/product. That means more sales at a lower cost to you – and higher average client value. With prospects it means being able to stay top of mind until they are ready to buy.Sales Funnel info_graphic

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