Where Funnel Management Can Go Wrong:The Case of the Missing Stages

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Old-school funnel management principles, still followed by too many companies today, is woefully out of step with how B2B products are purchased today. This presentation covers:
1. The new Buyer and your funnel
2. The missing funnel stages
3. Well-aligned Funnel examples
4. Rebuilding your funnel model
5. Calculating the necessary funnel velocity

Published in: Business, Career
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Where Funnel Management Can Go Wrong:The Case of the Missing Stages

  1. 1. Where Funnel Management Can Go Wrong: The Case of the Missing Stages Charles Besondy, President Besondy Consulting & Interim Management LLC www.BesondyLLC.com 1
  2. 2. Agenda • The new Buyer and your funnel • The missing funnel stages • Well-aligned Funnel examples • Rebuilding your funnel model • Calculating the necessary funnel velocity www.BesondyLLC.com 2
  3. 3. The Old Buyer I don’t know your company I don’t know your customers I don’t know your products I don’t know your service record I don’t know your execs I don’t know your financial stability Now, what did you want to sell me? www.BesondyLLC.com 3
  4. 4. The New Buyer • My team and I have decided to invest in solving a problem • I’ve checked out your company’s reputation • I’ve checked out your product’s reputation • I’ve checked out your competitors You’re on my short list; give me your best deal www.BesondyLLC.com 4
  5. 5. Poll • Where does your sales funnel/pipeline begin? What is the first stage that is measured? – When sales department declares a lead as a sales opportunity – When sales declares a name as a “lead” – As soon as we know a name and company – When lead quality has been verified by marketingwww.BesondyLLC.com 5
  6. 6. Key Takeaway • A large part of the buying process is occurring before your sales department knows about the opportunity • The buyer is controlling most of the process Are you managing the funnel accordingly? www.BesondyLLC.com 6
  7. 7. Missing Stages Opportunity Confirmation Needs assessment Budget Identified Proposal Negotiation Decision ? www.BesondyLLC.com 7
  8. 8. The Buyer’s Journey before Engagement with Sales Interest Problem identified Need to solve agreed Research solutions Opportunity Confirmation Needs assessment Budget Identified Proposal Negotiation Decision T i m e Content www.BesondyLLC.com 8 For a narrated version of this presentation visit my site. http://www.besondyllc. com/b2b-funnel- management/
  9. 9. Examples of Aligned Funnels Example 1 Position in Category Interest established Problem identified (MQL) Need agreed (SAL) Offer understood Preference formed Decision made Contract received Sales Marketing MathMarketing www.BesondyLLC.com 9
  10. 10. Examples of Aligned Funnels Example 2 Marketo www.BesondyLLC.com 10
  11. 11. Examples of Aligned Funnels Example 3 SeriusDecisions www.BesondyLLC.com 11
  12. 12. Examples of Aligned Funnels Position in Category Interest established Problem identified (MQL) Need agreed (SQL) Offer understood Preference formed Decision made Contract received A Hybrid Awareness / Friend Name Customer Prospect Lead Sales Lead Opportunity www.BesondyLLC.com 12
  13. 13. Resources www.BesondyLLC.com (Resources and blog sections) Funnel calculator Funnel Vision newsletter Funnel management videos Funnel management books Preparation tips for marketing automation www.BesondyLLC.com 13
  14. 14. Key Takeaways • Include all major stages of buyer’s journey in your funnel • Measure and track progressions • Develop content that’s appropriate for each stage • It’s a buyer’s journey, not a sales journey www.BesondyLLC.com 14
  15. 15. Why Include all Stages? • Accurate stage identification improves forecast accuracy and process alignment between Marketing and Sales • Aligns the company with the customer • Drives content and lead gen strategies & tactics www.BesondyLLC.com 15
  16. 16. The Impact of Missing Stages Position in Category Interest established Problem identified (MQL) Need agreed (SQL) Offer understood Preference formed Decision made Contract received Lag in Weeks 8 4 4 2 2 2 1 1 Leakage 95% 60% 50% 25% 15% 10% 20% 1% 16 weeks 8 weeks 1% 60% www.BesondyLLC.com 16
  17. 17. The Critical Funnel Math of Top Stages • What tactics will you employ at these stages in order to drive these results? When must the tactics be executed? www.BesondyLLC.com 17
  18. 18. Summary • Align your funnel to the entire buyer’s journey • Include the early stages of the buyer’s journey in your funnel; measure where possible • It’s a revenue funnel, not a “sales funnel”, or a “marketing funnel”, or a “lead funnel” www.BesondyLLC.com 18
  19. 19. Resources and Questions For a narrated version of this presentation http://www.besondyllc.com/b2b-funnel-management/ Charles Besondy Cbesondy@BesondyLLC.com 512.692.9642 www.BesondyLLC.com @CharlesBesondy www.BesondyLLC.com 19

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