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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But what’s a sales funnel? It’s a visual representation of a traditional sales process from start to finish. It represents the buyer’s journey. From their first contact with your business until they make a purchase. It’s called a funnel because of its conical shape. Also because it “filters” visitors and converts them to customers. Confused? We got you covered.
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“Aligning marketing and sales during the sales funnel does more than just align the teams — it creates better business outcomes,” said Mathew Sweezey, Principal of Marketing Insights at Salesforce. His stance is validated by a SiriusDecisions study that found brands with tightly aligned sales and marketing operations achieve 24% faster three-year revenue growth and 27% faster three-year profit growth. The three easiest ways to ensure marketing and sales alignment will succeed is a common language, co-created shared programs, and a policy to abide by a service level agreement.
Focus on the definition of a Marketing Qualified Lead (MQL). This is the crucial handoff point between marketing and sales, so it’s essential that the teams agree on the terminology. Every company’s definition of an MQL will vary, but it should reflect a combination of traits and actions that indicate a lead is both a good fit for your company and ready to talk to a salesperson. Here’s one way to examine your funnel to assess lead quality and determine whether a lead is ready for sales follow-up:
Growbots – If you’re looking for a high-quality outbound sales solution, you should absolutely evaluate Growbots. According to one online testimony, using Growbots is as simple as setting up a customer profile, creating a must-read email with a clickbait headline, and then launching your campaign. It’s a bit pricey, though. The service starts at $500/month billed annually. However, when you think of a typical sales funnel, catchy emails probably comes to mind first. So, if you’re serious about utilizing sales funnel stages to your advantage, Growbots is worth the price.
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Visual Website Optimizer – As a smart marketer, you already know that it’s important to test different versions of your website design to see which one works best. That’s why Visual Website Optimizer is so valuable. It uses heatmaps to show you which design elements on your site are getting the most attention. VWO also enables you to receive feedback from visitors so that you can see exactly which parts of your site need improvement and which parts are working well. This is a critical sales funnel step that can help you pinpoint any problem areas on your site and even expedite your company’s growth.
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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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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%.
John Lincoln (MBA) is CEO of Ignite Visibility (a 2017, 2018, 2019 and 2020 Inc. 5000 company) a highly sought-after digital marketing strategist, industry speaker and author of two books, "The Forecaster Method" and "Digital Influencer." Over the course of his career, Lincoln has worked with over 1,000 online businesses ranging from small startups to amazing clients such as Office Depot, Tony Robbins, Morgan Stanley, Fox, USA Today, COX and The Knot World Wide. John Lincoln is the editor of the Ignite Visibility blog. While he is a contributor, he does not write all of the articles and in many cases he is supported to ensure timely content.
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The first stage is to make people aware of your brand and products. Whether you are a design agency or running an eCommerce website, then you must use WordPress plugins. If a person doesn’t know about the existence of your brand, how will he become your client or make a purchase? In the initial phase, products or services don’t get much exposure. However, through efficient marketing tactics, your brand can trigger curiosity leading to sales.
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Transacted: A sale has transpired when a contract is signed by both parties. From a salesperson’s perspective, the fulfillment of the contract is the responsibility of other parts of the organization, and the salesperson can now focus on the next opportunity. In the case of early-stage start-ups, however, frequently the person that sells is also involved in fulfilling the contract. A signed contract can be booked as revenue from an accounting perspective.
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To automate reporting and connect even more of the dots between each salesperson’s activity and overall performance, use sales management software such as a CRM platform. Teams armed with the right sales pipeline and dashboard generally are able to use the information and insights gleaned to improve their sales, cut costs, and outperform their goals.
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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.
Sales rep success and skills shortage. A good sales pipeline also provides insight into which of your salespeople closes the most sales, has the highest ticket values, and needs more help and training to hit their quota. With this information, you can provide them with the assistance they need to improve their performance and get their sales numbers on track.