First, a common language needs to be set up to ensure marketing knows when a lead should be moved from marketing’s control, and placed in the sales funnel. There are two terms, "marketing-qualified lead" (MQL) and "sales-qualified lead" (SQL) or “sales-accepted-lead,” which all sales funnels must embrace to keep both teams aligned. When marketing has a lead ready to talk to sales, the lead should be marked as an MQL, meaning marketing has gotten it to the point where they believe sales should take over. If sales agree the lead is sales-ready, they accept the lead and move it from MQL to SQL (or SAL), and the handoff is complete. If not, the lead goes back to marketing.
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.
For some businesses, sales come naturally. Leads can arrive from various marketing campaigns or existing client referrals. Through a number of conversations, those prospects may later convert into paying customers. Among many small and midsize organizations, though, the sales process can be haphazard and unstructured. As a result, sales can be unpredictable.
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.
Lots of Interest, But Not a Good Fit: Leads in the lower right don’t necessarily fit your ideal customer profile, but are highly engaged with your brand. They might have subscribed to your blog and email newsletter, downloaded your ebooks, and attended your webinars. It’s worth having a sales rep do a low-cost follow-up with these fans to see if there’s an easy sale to make from a non-traditional customer. Sometimes leads that don’t seem like a fit have a good reason to buy your product. They can also turn into great evangelists for your products or services, thus providing you with indirect support as non-customers. That’s why you can’t automate the entire sales and marketing process. At some point, a good marketer or sales rep can spot an opportunity that your systems might overlook.
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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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As “State of Sales” finds, salespeople believe a combination of human skills and data-driven insights is needed to convert prospects into customers. In fact, the ability to listen is seen by 78% of those surveyed as an important attribute needed for landing deals. But sales reps also have to demonstrate industry knowledge (74%), trustworthiness (74%), and knowledge of prospects’ business needs (73%).
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Utilizing sales funnel in internet marketing is a hot topic these days. People want to know how they can make use of this effective marketing tool to grow their online business. The funnel analogy beautifully explains the overall sales process from beginning to the end. The top of the funnel suggests targeting potential customers and the end of the funnel focuses on making them repeat customers.
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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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