Nurturing Leads and Customers - Turning your funnel into an hourglass

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Most businesses are familiar with the concept of a sales funnel and the importance of managing the process that turns a lead into a sale. Successful businesses thrive by turning their sales funnel into an hourglass!
This slide focuses on helping you generate more sales from both your prospects and your customers. Get some great pointers on how to nurture prospects through your sales funnel and how to encourage them to be repeat customers. Don’t really have a defined sales process or customer retention plan yet? You’ll learn basic strategies and go back to your office with materials to immediately implement in your business.
Sales & Marketing should go hand in hand with customer services and your client retention plan. This short slide introduces you to this concept and invites you to dive deeper into acquiring new clients and keeping the ones you have.

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Nurturing Leads and Customers - Turning your funnel into an hourglass

  1. 1. Nurturing Leads andCustomersTurning your sales funnel into an hourglassPresentersKatie Griffin,KG VisionsMarilyn Benninger, CGASoftrak SystemsNurturing Leads and Customers
  2. 2. Session AgendaPart 1• The W’s and How To’s that always apply• Nurturing Prospects through your sales funnelPart 2• Turning your funnel into an hour glass• Nurturing customersNurturing Leads and CustomersSummary & Visa Gift Card Draw
  3. 3. Nurturing Leads and CustomersAbout Us
  4. 4. Nurturing Leads and CustomersAbout You
  5. 5. Funnel & Hourglass FundamentalsWhy• Engage• TOM: Top of Mind• MagnifyHow• Tools• Analytics• Closed salesWho• Sales Responsibility• Don’t assume; analyze• Identify marketWhen• Now• Multiple experiences• New & established salesWhat• Action Items• Give & Get• Selling without SellingWhere• Points of contact• Be findable• Make sure it worksNurturing Leads and Customers
  6. 6. • Smaller is better• Understand your sales cycle• Some stages are longer• Action items• Nurture all the way• GPS of your sales processUnderstanding Your FunnelSuspectProspectFollow UpAnalysisSolutionSaleNurturing Leads and Customers
  7. 7. Turning Suspects into ProspectsNurturing Leads and CustomersWhy• Conversion• Introduction• Create interestHow• Sophisticated telemarketing• Be different• Plow throughWhat• First Impression• No gimmicks• ConversationWho• Target Market• Qualified Leads• PersonalWhere• Identified prospects• New Opportunities• Empower
  8. 8. ExampleNurturing Leads and Customers
  9. 9. Getting to Know Your ProspectNurturing Leads and CustomersWhy• Find Facts• Identify• Create TrustHow• Tools• Gentle• Start ConversationWhat• Key Questions• Professional• PleasantWho• Who’s who• Direct• CharactersWhere• Laid Foundation• “Second Date”• Nurturing
  10. 10. Nurturing Leads and CustomersExample
  11. 11. Follow Up – Your Virtual InvestmentNurturing Leads and CustomersWhy• T.O.M• Unforgettable• ConsistentHow• Analytics• In Touch• PersonalityWhat• Events• Newsletters• TelemarketingWho• Team Players• Outsourced Support• NetworkWhere• Trust Building• Ask Questions• Business Philosophy
  12. 12. Analysis – Thoroughly InvestigateNurturing Leads and CustomersWhy• No Surprises• Reinforce• Forward MotionHow• Explore• Tough Questions• ListenWhat• Give & Get• Q & A’s• Promoting vs. PromisingWho• Outside Experts• Staff• Decision MakerWhere• Details• Expectations• Deliver
  13. 13. “An organizations ability to learn, and translate thatlearning into action rapidly, is the ultimatecompetitive advantage.”~ Jack WelchNurturing Leads and Customers
  14. 14. Solution – Your Time to ShineNurturing Leads and CustomersWhy• Solution• Prepared• AdjustableHow• Format• Mirroring• AnswersWhat• Deliverables• Wish List• OptionsWho• Reviewer• Third Parties• YouWhere• Transparent• Nurture Transition• New position
  15. 15. Sale – A ModelNurturing Leads and Customers200 Suspects50 Prospects50 Follow Ups13 Analyse13 Solution5 Sale100%25%25%6.5%6.5%2.5%
  16. 16. End of Part 1• The W’s and How To’s that always apply• Nurturing Prospects through your sales funnelPart 2• Turning your funnel into an hour glass• Nurturing customers
  17. 17. • Personal is better• Understand the usage cycle• Some stages are longer• Action items• Nurture all the way• Lifetime value of a customerBuilding the HourglassWelcomeEducateSupportRetainReferralsRepeatNurturing Leads and Customers
  18. 18. LVC = (Average Value of a Sale) X (Number of RepeatTransactions) X (Average Retention Time in Months or Years)Example: gym membership$20 X 12 months X 3 years = $720 ($240 per year)Lifetime Value of a CustomerNurturing Leads and Customers
  19. 19. WelcomeNurturing Leads and CustomersWhy• Nurture customer loyalty• Reassures decision• Shorten time to usage• Establish trustWho• Organization culture• Assign responsibilityWhen• ASAP after saleWhere• Surprise and delightHow• Email• Link to video• Phone• Snail mail!
  20. 20. “Don’t think what’s the cheapest way to do it orwhat’s the fastest way to do it…think what’s themost amazing way to do it.”~ Sir Richard BransonNurturing Leads and Customers
  21. 21. ExampleNurturing Leads and Customers
  22. 22. EducateNurturing Leads and CustomersWhy• Future referrals• Reduce low value service time• Learn from customerexperience• Inspire loyaltyWho• Front line staff• Sales teamWhen• As per usage cycleWhere• Website• Google AdWords,Remarketing• Email• On hold messageHow• FAQ’s• Online knowledge base• Blog• Newsletter
  23. 23. SupportNurturing Leads and CustomersWhy• Lock in loyalty• Reinforces purchasedecision• Obtain customer feedbackWho• Help team• Share roles• Share resultsWhen• Tiered support optionsWhere• Website• Third party training• Face-to-face seminar• Remote access• OnsiteHow• Self-serve knowledge base• YouTube videos• Customer forums
  24. 24. RetainNurturing Leads and CustomersWhy• Maximize LVC• Create community• Drive engagementWho• Account management• Share resultsWhen• Reasonable time, as perusage cycle• Frequency• ConsistencyWhere• Web feedback forms• In product• After event surveysHow• Customer care program• Loyalty programs• Third party surveys• Lost customer campaign
  25. 25. ReferralsNurturing Leads and CustomersWhy• Smooth transition• Fills the top of the funnelWho• Organization cultureWhen• Set expectation earlyWhere• Web• Sales materials• Email signature• Blog• LinkedInHow• Testimonial book• Net Promoter Score
  26. 26. Net Promoter ScoreNurturing Leads and CustomersOne Question:How likely are you to recommend this company(product/service) to a friend or colleague?40 = 60% - 20%
  27. 27. Summary• Differentiator• Implement a measurable system• Customers sell themselves• Customers = repeat buyers• Customers = referral networkNurturing Leads and Customers
  28. 28. Questions?Nurturing Leads and Customers
  29. 29. Lucky Draw Winner!Nurturing Leads and Customers
  30. 30. Thank you!katiegriffin@kgvisions.biz1-800-296-0390marilynb@softrak.com1-905-633-9772Nurturing Leads and Customers

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