A sales funnel is the marketing term for the journey potential customers go through on the way to purchase. There are several steps to a sales funnel, usually known as the top, middle, and bottom of the funnel, although these steps may vary depending on a company's sales model.
Any business owner knows the pain of just missing a sale. After weeks of pitches and demos, chatter and charm, the prospect drops out of the sales funnel without buying.
It happens. But it happens less often when you have the right sales funnel management help. Many small business sales funnels are more like sieves, with holes left by patched-together spreadsheets, sticky notes, missed appointments and forgotten follow-ups.
There's a better way. Sales and marketing automation software can plug those sales funnel holes and turn near-misses into sales.
What is a SaaS Marketing Funnel?
Hi, my name is Lewis Blythe and I am a product manager and digital marker that helps Financial Services businesses. Including but not limited to mortgage brokers Banks investment firms Venture capitalists insurance companies superannuation funds
And large Enterprise level customers playing in these industry verticals better Market to their customers. What do I mean by better Market to your customers?
Well having been exposed to Enterprise business for a very long time. Now, I have seen the gross inadequacy present in many of the marketing automation funnels and processes.
That exists Within These businesses. Catch all lists that blast customers with general information about a company nonspecific Untitled Journeys that drive very little Roi let alone improve customer expectations. In this day and age, you need to create custom-tailored parts per person per product.
There are no two ways about it. You cannot Mark around with generic onboarding you cannot create better retention for your company with Journeys that are not specific to the actions of an individual. You cannot Expect expansion from your customers if you are giving them the same Journey as each other.
Now in the olden days like five years ago, you would have paid a salesperson to go through a CRM and tag and comment against the customers that they thought best fit that companies needs or their budgets. If you are looking to let land a large whale of a client you would trawl through a CRM find the appropriate Prospect Hammer them.
With phone calls with total disregard to their day-to-day activities, you would essentially interrupt them and then hassle them to buy until they convert. This is bad business and you're about to run into a very difficult time. If you think that Millennials will have the same purchasing Behavior. We are now in an interconnected world a world where custom-tailored communication must be specific to that user at that point in time on the device.
That they choose to interact on the Means of communication that they prefer In some scenarios this is referred to as omnichannel. But let me tell you this omnichannel marketing without customized and tailored messaging is rubbish.
Creating bespoke Journeys tailored to an individual that focuses on their problems and leverage your business's insights and expertise in how to solve them is the only way forward. I hear you say but where do I begin Louis and if you have begun I hear you say but we've already begun Louis. Well for the people that haven't started let me tell you this.
That's a good thing you're in a great position because you have a clean slate with which to work from for those of you that are invested significant time effort and energy into this process already but have received or noticed Littleton zero.
Return on investment also. Congratulations, you're in a position to fix the problem the worst-case scenario is that you've implemented Solutions and you think they're currently working and you don't know there's a problem. You don't know that your customer acquisition cost is too high. You don't know that your churn rate is too high.
You can't calculate the lifetime value of a customer. You have no idea of the annual recurring Revenue that a cohort of individuals brings into your business. And in what part of that business they bring that Revenue.
So Lex fix that problem below is a list of recommendations.
I think you should highly consider if you're looking to be and build a best-of-breed platform of communication around your business. You might have a Consulting business. You might have a training and education business. You might have a Services business you might have a product-based business or maybe it's a SaaS company.
I don't know and I don't really care all I know is that each of these different? Scenarios must use different sets of communications tools to Target and talk to individuals specifically and differently from each other. Let's start with the easiest and most often misunderstood group of these tools. Enter email is both one of your biggest opportunities, but more likely one of your biggest weaken weaknesses. Good news.
It's very easy to solve gone are the days of the 5 equal welcome series followed by the blast. I have a shotgun newsletter every month. No, this is no longer acceptable these days. We want bespoke Journeys that are event-driven based on the actions of customer or consumer has performed.
There is no point congratulating them on doing something they did three days ago or worse yet saying thank you for watching my ex video. I thought you might find this resource useful. And the video they watched was a month ago.
We also live in a world where multiple tools and now in play customers on WhatsApp text message phone VoIP Skype slack Facebook Messenger Snapchat. Twitter need I go on
I think about how you want to talk to these customers why you want to talk to them who your ideal customer is model out that customer to determine the best platform to engage at customer determine how they like to receive their communication and then give them a clear and consistent path with eight unique value proposition to follow.