Archive for sales process
Data To Track In A Sales Funnel
Posted by: | CommentsA robust sales funnel provides a good leading indicator of the medium to long-term health of sales efforts. By tracking the proper indicators, wild unpredicted gyrations in forecasting are dampened.
Most sales reports offer information on what has already happened. This is like driving while looking in the rear view mirror. Tracking booked orders is very important, but it is also critical to look at what is coming in the future.
Make certain to build a tracking system or process utilizing the proper metrics. And, review the data frequently. Think of both the numerical data and the subjective indicators affecting the success of sales efforts. Some things like marketing, enhanced executive relationships, and technical training usually don’t transfer directly to sale, but they are important to strengthening and solidifying deals that are in the sales funnel.
What Is A Sales Funnel?
Posted by: | CommentsThe concept of a Sales Funnel is a visual metaphor representing the stages in a sales process. It is wide at the top to allow for a large number of potential opportunities. It narrows as it moves to the bottom because opportunities drop away at each stage of a sales process.
At the top of the funnel there are unqualified prospects. These are the many suspects who might need the product or service, At the bottom of the funnel, multiple sales steps later, are the people ready to purchase and receive delivery of the product or service.
A predictable sales funnel is something every company needs to make effective business decisions. Unfortunately, predictability proves to be extremely elusive and hard to achieve. What sales people say they’re going to close, and what they actually close is sometimes a pleasant surprise or it can result in an uncomfortable discussion.
