The 9th May Incident in Pakistan A Turning Point in History.pptx
Sales Funnels: Nurturing Leads and Customers
1. Nurturing Leads and
Customers
Turning your sales funnel into an hourglass
Presenters
Katie Griffin,
KG Visions
Marilyn Benninger, CGA
Softrak Systems
Nurturing Leads and Customers
2. Session Agenda
Part 1
• The W’s and How To’s that always apply
• Nurturing Prospects through your sales funnel
Part 2
• Turning your funnel into an hour glass
• Nurturing customers
Nurturing Leads and Customers
Summary & Visa Gift Card Draw
5. Funnel & Hourglass Fundamentals
Why
• Engage
• TOM: Top of Mind
• Magnify
How
• Tools
• Analytics
• Closed sales
Who
• Sales Responsibility
• Don’t assume; analyze
• Identify market
When
• Now
• Multiple experiences
• New & established sales
What
• Action Items
• Give & Get
• Selling without Selling
Where
•Points of contact
•Be findable
•Make sure it works
Nurturing Leads and Customers
6. • Smaller is better
• Understand your sales cycle
• Some stages are longer
• Action items
• Nurture all the way
• GPS of your sales process
Understanding Your Funnel
Suspect
Prospect
Follow Up
Analysis
Solution
Sale
Nurturing Leads and Customers
7. Turning Suspects into Prospects
Nurturing Leads and Customers
Why
• Conversion
• Introduction
• Create interest
How
• Sophisticated telemarketing
• Be different
• Plow through
What
• First Impression
• No gimmicks
• Conversation
Who
• Target Market
• Qualified Leads
• Personal
Where
• Identified prospects
• New Opportunities
• Empower
9. Getting to Know Your Prospect
Nurturing Leads and Customers
Why
• Find Facts
• Identify
• Create Trust
How
• Tools
• Gentle
• Start Conversation
What
• Key Questions
• Professional
• Pleasant
Who
• Who’s who
• Direct
• Characters
Where
• Laid Foundation
• “Second Date”
• Nurturing
11. Follow Up – Your Virtual Investment
Nurturing Leads and Customers
Why
• T.O.M
• Unforgettable
• Consistent
How
• Analytics
• In Touch
• Personality
What
• Events
• Newsletters
• Telemarketing
Who
• Team Players
• Outsourced Support
• Network
Where
• Trust Building
• Ask Questions
• Business Philosophy
12. Analysis – Thoroughly Investigate
Nurturing Leads and Customers
Why
• No Surprises
• Reinforce
• Forward Motion
How
• Explore
• Tough Questions
• Listen
What
• Give & Get
• Q & A’s
• Promoting vs. Promising
Who
• Outside Experts
• Staff
• Decision Maker
Where
• Details
• Expectations
• Deliver
13. “An organization's ability to learn, and translate that
learning into action rapidly, is the ultimate
competitive advantage.”
~ Jack Welch
Nurturing Leads and Customers
14. Solution – Your Time to Shine
Nurturing Leads and Customers
Why
• Solution
• Prepared
• Adjustable
How
• Format
• Mirroring
• Answers
What
• Deliverables
• Wish List
• Options
Who
• Reviewer
• Third Parties
• You
Where
• Transparent
• Nurture Transition
• New position
15. Sale – A Model
Nurturing Leads and Customers
200 Suspects
50 Prospects
50 Follow Ups
13 Analyse
13 Solution
5 Sale
100%
25%
25%
6.5%
6.5%
2.5%
16. End of Part 1
• The W’s and How To’s that always apply
• Nurturing Prospects through your sales funnel
Part 2
• Turning your funnel into an hour glass
• Nurturing customers
17. • Personal is better
• Understand the usage cycle
• Some stages are longer
• Action items
• Nurture all the way
• Lifetime value of a customer
Building the Hourglass
Welcome
Educate
Support
Retain
Referrals
Repeat
Nurturing Leads and Customers
18. LVC = (Average Value of a Sale) X (Number of Repeat
Transactions) 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 Customer
Nurturing Leads and Customers
19. Welcome
Nurturing Leads and Customers
Why
• Nurture customer loyalty
• Reassures decision
• Shorten time to usage
• Establish trust
Who
• Organization culture
• Assign responsibility
When
• ASAP after sale
Where
•Surprise and delight
How
•Email
•Link to video
•Phone
•Snail mail!
20. “Don’t think what’s the cheapest way to do it or what’s the
fastest way to do it…think what’s the most amazing way to
do it.”
~ Sir Richard Branson
Nurturing Leads and Customers
22. Educate
Nurturing Leads and Customers
Why
• Future referrals
• Reduce low value service time
• Learn from customer
experience
• Inspire loyalty
Who
• Front line staff
• Sales team
When
• As per usage cycle
Where
•Website
•Google AdWords,
Remarketing
•Email
•On hold message
How
•FAQ’s
•Online knowledge base
•Blog
•Newsletter
23. Support
Nurturing Leads and Customers
Why
• Lock in loyalty
• Reinforces purchase
decision
• Obtain customer
feedback
Who
• Help team
• Share roles
• Share results
When
• Tiered support options
Where
•Website
•Third party training
•Face-to-face seminar
•Remote access
•Onsite
How
•Self-serve knowledge base
•YouTube videos
•Customer forums
24. Retain
Nurturing Leads and Customers
Why
• Maximize LVC
• Create community
• Drive engagement
Who
• Account management
• Share results
When
• Reasonable time, as per
usage cycle
• Frequency
• Consistency
Where
•Web feedback forms
•In product
•After event surveys
How
•Customer care program
•Loyalty programs
•Third party surveys
•Lost customer campaign
25. Referrals
Nurturing Leads and Customers
Why
• Smooth transition
• Fills the top of the funnel
Who
• Organization culture
When
• Set expectation early
Where
•Web
•Sales materials
•Email signature
•Blog
•LinkedIn
How
•Testimonial book
•Net Promoter Score
26. Net Promoter Score
Nurturing Leads and Customers
One Question:
How likely are you to recommend this company
(product/service) to a friend or colleague?
40 = 60% - 20%
27. Summary
• Differentiator
• Implement a measurable system
• Customers sell themselves
• Customers = repeat buyers
• Customers = referral network
Nurturing Leads and Customers
Opening Slide – to be played while audience enters
Katie Introduce Part 1 – Who, Where, When, Why, What and How – key parts in nurturing prospects through funnel
Marilyn Introduce Part 2
KG: Please fill out the back of the blank card, we’ll collect and draw!
Katie: Owner KGV – Freelance Marketing Consultant, specialize sales & marketing all different businesses. Help w/ or w/o sales process, create or compliment marketing strategies and execute successfully.
Marilyn:
How many consultants
How many end users – what kind of business?
What is your biggest challenge w/finding new clients / keeping the ones you have?
KG WHY: Both are educated and educating. Relevant information, identify, position as expert. TOM. Magnify: Your impact, times are tough, budgets, competition – put yourself in front.
MB WHO:
MB WHEN:
KG WHERE: Websites, phone, social. Walk through.
KG HOW: Manage nurturing – CRM’s, Cloud options, work with what you have. Not just sale – responses engaged?. Measure success Ultimate – closed sale
MB Applicable across the board
Words like sales, telemarketing, engage, don’t worry – salesperson = consultant
Ask: What do you think of when you hear sales funnel?
Answer: Here’s what I think… not just internal, where buyer’s mind is. Transitions -stages-
Explain Bullets
WHEN = sales cycle dependent = WHAT
Let’s examine
**Sales funnel stages dependant on sales cycle (will hear this a lot) WHEN – focus on the WHAT here. Apply your when accordingly.**
WHY: Clean up, old list, new list. Start relationship, you are the expert. Sending info
HOW: No cold calls, warm calls! Oldest sales method, still one of the best – human voice, sales without selling. Numbers – get through.
WHAT: Not a pitch, a conversation. You know, they don’t. No promotions – not needed. Engage and empower.
WHO: Size, geography, industry. Deliver. All leads created equal –telemarketing benefits.
WHERE: Clean list, generated interest, new opps – beginning of empowering self educated prospect.
Old list, 5 to 8 years old
Once through calls
Outline each status
112 new opps
Engage further
-WHY: Building foundation, ask questions. Listen, tone, level of interest, good day, bad day, personality. Not pitching. Delivered info, did what you said.
-HOW: Tools . Stay professional gentle means not ready to discuss bottom line $, conversation will go one for sales cycle, don’t burn it – sounds to desperate.
-WHAT: Dig a little, likes, dislikes current set up. Est. needs. See your solution can work for them? Pleasantly asking key questions – serves well later on.
-WHO: role of contact – gatekeepers, body guards, decision makers. Time spent with contact, ask who’s who.
-WHERE: Blueprint coming together, understanding nurture process. Like you enough to hear from you again, still getting to know- where are they? Investigating you and your product – further nurturing.
Warkov – Kathy Griffin – Arnie. Tell story.
8 months – once/twice a month. Intro, Nurture, Demo, Proposal, SALE.
Only spoke with owner once.
Currency spent will produce ROI- spend without expectation
WHY: you will be forgotten, TOM: power of conversation timeless, deliver – call backs when you say builds trust
HOW: measure success of your calls and other tools e-mail- how engaged is the prospect. F/U is long phase – keep in touch, ask more questions ,drop in, hello, continue to build trust move to trial, demo, - want their hands in it. Don’ t be pushy – add some personality – several calls now, show some character – human.
WHAT: seminars, webinars, organize, advertise, personally invite. Considerate – “thought of you the other day” industry related, funny, info – continue to position as expert.
WHO: Who’s who? Towards analysis, demo trial, who’s involved? Introduce your people- one man show refer to as a network of professionals – trust you, will trust them.
WHERE: If you build it they will come – your solution you know it- they don’t. Ask – competition, likes, dislikes, I want to know you – moves to ROI analysis. What do you believe, stand out – compelling and relevant – “Empower phrase”
Time to get your hands dirty!
WHY: loves surprises? Not here! Spend time, get to really know. Reinforce nurturing by doing so, appreciated, trust. All products/services understand needs- cars, groceries, clothes, etc. You’ll move forward, so will they both thankful for it.
HOW: walk through day, why they do. Timeline & budget, trust established info will flow better. Said and not said. Repeat to be sure.”what I’m understanding is…”
WHAT: give in analysis, get back in info, understanding. Q & A – problem solver- position expert. Ease of Q & A- is selling without selling. Ask if they do this – gives indication of solution, you have he solution.
WHO: Any other experts – don’t say competition. Educated buyers shop around, likes, dislikes, research them. Even if lost to comp. gained in knowledge. Is everyone there – gained understanding of all staff involved? Met the head honcho.
WHERE: Meets their needs, move forward by certain date. Expectations for a year from now? Analysis not proposal – assertain info so you can follow thru. Where are you – need help? Nurture = won’t let down.
Be flexible, understanding, and prompt.
Show them who you are – why you are the expert.
-WHY: more than a proposal – you listened, you care you have answers. Worst thing unprepared – don’t let them ask you about something you missed. Nothing in stone, be flexible – not all about the money.
-HOW: Make it or break it. Different types of proposals, long, short etc. reflect your business, but mirror the prospect – know them a little – mirror. Solution provider, don’t overwhelm or over sell. Options.
-WHAT: Can’t live without- deliverables. Wish list items can be added on later on or right away – allow breathing room, future nurturing, client retention – MB will have more on that. Expert gives solution and options – A, B, C.
-WHO: consider who is reviewing, mirroring & appeal- decision maker – if not established here, bottleneck. Third parties for you – be transparent – being an expert means your expertise, others have theres trust you , trust them. You have to present – don’t rely on someone else. No one knows this like you do.
-WHERE: clear, final stages, don’t skip anything. Ask if accepted, next steps are... time, date. Make yourself accountable = trust. Start of transitioning from nurturing a prospect to a support position, prospect to client, sales to consultant.
-KGV client –product has a 6 to 12 month sales cycle – been applying this for 10 months
-explain stages of funnel – started with 200 leads
Cleaned up to 50 prospects
All follow ups
Analysis/Demo 13
All solutions presented
5 sales (since slide created, 7 sales)
Prospects in funnel consistently moving
Starting with 100% full funnel
One lead set – recommend consistently filling funnel
By end should see increase of at least 2.5% sales
This client has seen over 60k in sales revenue and by the end of this sales cycle anticipate btwn 80 and 90k.
Defined by quantity and duration of your sales cycle – either way, these are markers of where you will be by following this process. Increase sales revenue of at least 2.5% - now 3.5% sales from old leads, cold calling (warm calling) and this process. Nice?
Lead nurturing is important to make new sales – equally as important what you do with those prospect once they’ve become your clients. With that I’ll hand it over to MB.
- Affects the whole organization
Once you know how frequently a customer buys and how much he or she spends, you will better understand how to allocate your resources in terms of customer retention programs and other services you’ll need to keep your customers -- and keep them happy.
Knowing lifetime value also lets you see how, or if, you can discount. It will help you avoid the potentially disastrous effects of discounting when your business needs cash flow to survive. In addition, you will find innovative ways to build value upfront and create offers that drive enough volume to support and eventually increase your overall lifetime value number.Read more: http://www.entrepreneur.com/article/224153#ixzz2UFdXevt1
The SALE is the start of the next phases to encourage repeat purchases and referrals
Show appreciation for customers, before, during and after the sale
-Ensure to use traceable newsletter service like Constant Contact
-Successful customer retention provides valuable content and education that meets their customers’ needs. It shows how brand understands customer. Content marketing is one of the most important strategies for customer retention. When your organization begins to provide useful and helpful content of value, you understand how educating, not selling is important strategy.
-Shelter customer from acquisition by a competitor
-Customers want to be heard
-Customers choose to stay with your brand
If you create a true Referral Engine, you’ll successfully have created an advocate sales force for your business through all your ecstatic customers. The most important part of this stage is to set the expectation at the beginning.
Simplicity, consistency
Transformative, measurable
Independent of sample size
Manageable
The average firm sputters along at an NPS efficiency of only 5 percent to 10 percent. In other words, promoters barely outnumber detractors. Many firms—and some entire industries—have negative Net Promoter Scores, which means that they are creating more detractors than promoters day in and day out. These abysmal Net Promoter Scores explain why so many companies can't deliver profitable, sustainable growth, no matter how aggressively they spend to acquire new business. Companies with the most efficient growth engines—companies such as Amazon, Rackspace, TD Bank, Harley-Davidson, Charles Schwab, Zappos, Costco, Vanguard, and Dell—operate at NPS efficiency ratings of 50 percent to 80 percent. So even they have room for improvement
People buy from companies and people that they know, like and trust
