The execution of sales funnel stages depend on your efforts and resources. By improving brand visibility and making information related to your product/service readily available, you can build a strong database of customers and prospects. This can help you set and achieve future goals. More importantly, it is also essential to focus beyond the purchase stage, as it is relatively cheaper to retain an existing customer than acquire a new one.

According to this research by McKinsey, a customer narrows down their options based on the initial consideration (brand awareness) and active evaluation (seek information about the products/services). When both of the former factors are in place, it leads to a purchase decision a.k.a sales, albeit just for that moment. This then needs to continue towards the next stages in the sales funnel, .i.e. customer engagement and customer loyalty.

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Probability to close. Even if your sales team has hundreds of high-value leads in the pipeline, salespeople may not be successful in winning a majority of those opportunities. Estimate how likely each lead is to convert into a customer based on your team’s conversations with them, their current stage in the sales pipeline, and other criteria that signal their eagerness to strike a deal. 

sales funnel explained


Probability to close. Even if your sales team has hundreds of high-value leads in the pipeline, salespeople may not be successful in winning a majority of those opportunities. Estimate how likely each lead is to convert into a customer based on your team’s conversations with them, their current stage in the sales pipeline, and other criteria that signal their eagerness to strike a deal. 

sales funnel flowchart


If a sales opportunity does not move down the funnel, the sale will not happen and the opportunity should be removed, hence the “leaky” funnel. A leaky funnel is not necessarily bad; as a salesperson, you want to focus on opportunities that are likely to yield results. It is the nature of sales to have to remove an opportunity from your funnel. It does not mean that you will not sell to that account (a positive action by the customer can put them back into the funnel), but for the time being, you should centre your attention on opportunities that remain in the funnel.

sales funnel metrics


LeadCrunch – “Imagine if you could reach the right person at the right company with the right message at the right time to find a new customer?” That’s the opening question in the marketing video on the LeadCrunch website. The company uses a sophisticated algorithm to help you find people in your target market. As of this writing, though, it’s meant for companies in the B2B space. 

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However, video conferencing and other apps offer an opportunity to engage prospects at a time and place that suits them. In fact, 60% of sales reps say they spend more time selling virtually than they did in 2015, according to the third edition of Salesforce’s global “State of Sales” study. Meanwhile, 52% of sales reps say they spend the same amount of time or less meeting with customers in person.

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By now, most marketers understand the importance of mending the traditional rift between sales and marketing. The mistrust and miscommunication that’s so often found between the two teams can act like an anchor on your company’s growth rate. In fact, organizations with good alignment between sales and marketing teams achieved 20% annual revenue growth in 2010, according to a study by the Aberdeen Group. By contrast, companies with poor alignment saw revenues decline by 4%.

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Probability to close. Even if your sales team has hundreds of high-value leads in the pipeline, salespeople may not be successful in winning a majority of those opportunities. Estimate how likely each lead is to convert into a customer based on your team’s conversations with them, their current stage in the sales pipeline, and other criteria that signal their eagerness to strike a deal. 

sales funnel diagram


If a sales opportunity does not move down the funnel, the sale will not happen and the opportunity should be removed, hence the “leaky” funnel. A leaky funnel is not necessarily bad; as a salesperson, you want to focus on opportunities that are likely to yield results. It is the nature of sales to have to remove an opportunity from your funnel. It does not mean that you will not sell to that account (a positive action by the customer can put them back into the funnel), but for the time being, you should centre your attention on opportunities that remain in the funnel.

sales funnel for service business


These metrics closely relate to each other. For example, the number of deals in your funnel matters only if you know what percentage of your deals you win on average. The average size of a deal impacts the amount of deals you should be closing in order to hit your revenue goal. And sales velocity helps you understand how much of your time can and should go towards each quality deal, so you can manage your days effectively.

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Review your initial lead response time. According to InsideSales.com, 35-50 percent of sales go to the vendor that responds first. Speed literally wins deals! The time it takes for your company to respond to leads once they hit their inbox may be the first source of a leak, so make sure to review this and make time in your day for prioritizing responding to leads.
Create content and use tactics that help to keep them connected with your brand, even when they are not actively engaging with it. One of the most effective ways to boosts engagement is through Newsletters. This will keep them up-to-date about your latest products and discounts, major sales that they shouldn’t miss or any changes you make with regards to the terms & conditions of your service.
Intercom Acquire – Ever visit a website and notice a happy face in the lower, right-hand corner next to a message like: “I’m Sadie! Can I help you with anything?” That’s a marketing chat system run by a company like Intercom. When people hit your landing page, you can use Intercom’s Acquire service to answer any questions that might not be answered on your web page.
When people buy a product they are showing their trust in it. In return, your product needs to be worthy of the money they spent. Consider how your brand can stand out among others and what you can offer to leverage against competitors. Once a buyer makes an emotional-connect with the brand, he is more inclined towards making a purchase with confidence.

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Before you start building your sales funnel, it is essential to have a clear business vision, develop an ecommerce marketing strategy, and then define your target audience to work towards your business growth. If, for example, you are looking at how to create an online clothing store, you need to follow specific steps to develop your business and stay successful.

sales funnel lead generation


LeadForensics – Even if you incorporate a sophisticated lead capture form using Leadformly, there will always be leads that slip through the cracks. LeadForensics lives up to its name by capturing the IP address of your anonymous visitors and uses that address to determine important information about the visitor, such as contact information, demographics, and financial data.

sales funnel analysis

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