The sales funnel visually describes the sales process from initial contact to final sale. It uses the metaphor of a leaky funnel, into which a seller can “drop” sales opportunities. At some point, sales opportunities are removed from the funnel because potential customers become uninterested or you determine their lack of fit.
The stages of a sales process refer to a potential customer’s degree of readiness to commit to a deal (from the seller’s perspective). Or put in a different way, readiness may be seen as the probability of the sale taking place.
As a sales opportunity moves down the funnel, time to closing decreases and the probability of the sale occurring increases. The sales funnel metaphor enables you to analyze and manage a portfolio of sales opportunities.
In the process of pursuing a sales opportunity, you essentially work to remove barriers to the sale. When you remove a barrier, the opportunity moves to the next stage. Barriers include uncertainty about your product’s fit and value, lack of budget or the customer’s buying process.
You can manage the sales funnel by developing sales metrics appropriate for your business. (For more information, read the articles Sales metrics and Managing and analyzing sales metrics.)
As you gain experience in working with customers and sales processes, you can create your own version of the sales funnel, complete with specific steps and actions to move prospects from stage to stage. What we have described here can act as a starting point or template.
Lead (Suspect): A lead (also known as a suspect) is someone you have not spoken to. But if a lead appears similar in profile to your target customer, you may decide that they are worth pursuing. Track your most fruitful sources of leads (that is, leads that become customers).
Prospect: A prospect has confirmed interest in your offering. You have had a conversation, provided the person with information about what you do, and both of you have agreed to a next step in the sales process.
Qualified prospect: Qualification is the most critical and demanding stage of the sales funnel. In the qualification process, you verify that the prospect has a need for your product, that the prospect sees value in your offering, that there is sufficient budget for a deal, that you have access to the decision-maker, and that there is an agreed-upon timeline for the sales process. The qualification process can be complex and lengthy, and can be managed with a Sales Call Talk Track and stakeholder management chart.
Committed: Ideally, you want to close the deal when all red flags have been dealt with. In reality, most deals close while critical red flags still exist. At this point, you have provided the customer with a proposal that outlines key contractual terms. When a customer has agreed to move forward with a deal, they are “committed” (also known as “verbal commitment” or “verbal”). What remains is to work out the details of the contract, delivery and payment, all of which have the potential to“undo” the commitment. The commitment may be offered contingent upon certain terms being met.
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.
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, your should centre your attention on opportunities that remain in the funnel.
Signup today with My Lead System Pro to get access to quality tools that will enable you create sales funnel with ease!
After you read this short article you will feel more confident in your ability to turn your online business into the success you dream of and build a rabid community of subscribers or followers of your content.
Attraction marketing online is becoming the standard in which anyone anywhere can create a lucrative business by using certain strategies. When I first learned of online marketing, I wasn’t sure what that meant. Like many of you, I thought it was about having something to sell online and that was it. But over time, I began to take notice of how successful marketers were implementing strategies to reap huge success in their business.
There is only one solution to this kind of challenge. Learn three core skills that have been beneficial to my online business and use them to help you with yours.
Ask yourself this question…
What would it feel like to experience real success in my online business?
The answer is as simple as A-B-C. But, before we uncover what that means, let me make a suggestion: Don’t give up! No matter how much money you have spent, or how many so-called “guru’s” you have been suckered into believing, don’t give up!
Can you imagine what it would feel like to finally see money flowing into your account because of simple easy-to-use strategies?
So what is attraction marketing anyway? It is nothing new; traditional salespeople have been using this method since the sales industry began. We use it in our everyday life, it is simply, a way of communicating that is attractive to others, thus, resulting in sales, support, advice that’s needed, or whatever else we want.
Attraction marketing online is done a little differently, because you don’t have the face-to-face encounter. In order to have the same level of persuasion, you must learn how to skillfully orchestrate your words to make the connection with your audience. “Magnetic” words have the ability to grab attention at the most subtle subconscious level and the reader doesn’t really know they are pulled into the content until they take action.
Now that you understand the basic definition of attraction marketing, let’s examine the A-B-C’s of it.
A = Aligning your message with your audience in an authentic way. When you know what you know, you know how to convey it. When you are trying to sell something, it comes across as fake. Keep it real — the only way you can do this and have it successfully persuade your audience, is to be authentic and endorse only what you, yourself have experienced. People are smart and they can spot a con within seconds. Don’t underestimate your target audience.
B = Believe in your products or services, and your ability to assist your target customer with any grievance. It is important to be accessible to your customer and ensure them that what you are offering is of quality. But remember, when your customer feels you are a person of quality, they won’t have any problem believing that what you represent is a quality product.
C = Communicating and connecting in a consistent manner. Your audience wants to hear from you in a personable, direct way. Consistency implies a regular basis, but the key is setting the schedule in a way that your audience expects to hear from you. Make each piece of communication connect with your audience instead of a “sales pitch” to buy your product.
Use the ABC’s of attraction marketing concepts and strategies for your network marketing business today by sharing a system designed for your online success.In fact – it is truly everything that you need to succeed anyway. So check out My Lead System Pro today and see for yourself!
Level ONE Network vs My Lead System Pro is actually not much of a comparison. True Level ONE Network is a network blogging system and an affiliate program. But the comparison pretty much stops there.
Now I have been in Level ONE Network since day one. Yeah – I actually joined within 10 minutes of it’s unveiling. And I did so because it was an awesome alternative to Empower Network. Well for me anyway.
You see I just didn’t like the bare chested images of the founder – and the foul language that followed. It just didn’t seem professional to me. So when Level ONE Network popped up – there was a huge difference. It was professional – and – the way it was built was different as well.
Like night and day actually. And once I realized how we would be set up on the Level ONE Network blog – as compared to the Empower Network blog – I wanted in. And I say that because I couldn’t get any traffic from the EN blog at all. And I was already a blogger. But that was because of how we were set up as a sub domain.
But not so with Level ONE Network. We got front page exposure and that meant I could hit the search engines fast just by using it.
So – why did I leave Level ONE Network if I liked it so much?
Well the reason why I left Level ONE Network actually began before I joined it. You see – I joined My Lead System Pro about a week before I joined Level ONE Network. But as soon as Level ONE Network started and I joined – I immediately focused in on it. And – I was having some great success from it.
But what got my attention was that the people who joined my team couldn’t duplicate my success. And you know as well as I do – that in an affiliate program where you get paid for ongoing subscriptions – you don’t make much if your people don’t succeed.
And I think that some of my success was because I built the Level ONE Network Review site. So it sort of gave me an edge over my team.
Anyway – I had about 50 people on my front line…….and it was looking like nobody else could re-produce. So – I actually took a better look at MLSP or My Lead System Pro in order to help me with Level ONE Network. I figured that if I could find ways of generating more leads – I could help my team succeed.
And the more I got into MLSP – the more I realized that Level ONE Network couldn’t hold a candle to My Lead System Pro. In addition – MLSP embarrassed me one day. You see I decided to do a traffic experiment one day for one of my team trainings. And I was trying to show how Level ONE Network could get you more traffic – because it was built different.
But as part of that experiment – I put some content up on the My Lead System Pro Article Directory. And I just never expected to get spanked so bad – especially in front of my own team. Anyway – the content on the MLSP Article Directory took off – and got more traffic than all of the other sources that I had used in the experiment.
Well what can I say? I found myself looking more and more at MLSP – and what I was finding just led me to believe that I bet on the wrong horse. In fact – I put together a side by side comparison for you. So take a look at the image below and look at what Level ONE Network had to offer on the left side. And then take a look at what My Lead System Pro was offering on the right side.
See what I mean? How could I pay almost $50 per month for one thing – knowing that the other thing was so much better for the same amount of money?
And one of the most important reasons was that MLSP did not have a pass up compensation plan. And that all by itself – was a game changer for me.
Anyway – yes – I did just leave Level ONE Network recently. But truth be told – my heart left it months ago. I just could not promote something that fell so far behind what I had with MLSP. I just couldn’t do it any longer.
So I turned to MLSP to find a way to get more leads for my Level ONE Network team. But in the process – I found that My Lead System Pro provided every single thing that any Work From Home pro needed to succeed.
Anyway – now you know. Now you know why I threw in the towel on Level ONE Network. And now you know why I love My Lead System Pro so much. I mean just take a look at that image above. Look at all that you get! In fact – it is truly everything that you need to succeed anyway. So check out My Lead System Pro today and see for yourself!