The Sales Funnel

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A discussion of the business sales funnel

Published in: Business

The Sales Funnel

  1. 1. The Sales Funnel The Single Immutable Law of Selling… Intstallment 1 of the “ Sell More Now!” Series “ Every business has a sales funnel”
  2. 2. The Sales Goal “ Invite Me Back ” is a company who offers loyalty plans to restaurants…
  3. 3. The Sales Goal 5 New Clients Their Monthly Sales Goal: “ Invite Me Back ” is a company who offers loyalty plans to restaurants…
  4. 4. Building The Funnel - Clients New Clients
  5. 5. Building The Funnel – Hot Prospects Hot Prospects New Clients
  6. 6. Building The Funnel - Qualifieds Hot Prospects Qualified Prospects New Clients
  7. 7. Building The Funnel - Suspects Hot Prospects Qualified Prospects Suspects New Clients
  8. 8. Lead Drop Off Hot Prospects Qualified Prospects Suspects New Clients As leads move toward sold, they drop off by a factor of 5 at each level
  9. 9. Start With The Sales Goal 5 New Clients Each Month 5 New Clients
  10. 10. Determine Hot Prospects… Hot Prospects - 25 5 New Clients New Clients * 5 = Hot Prospects Needed
  11. 11. Determine Qualified Prospects… Hot Prospects - 25 Qualified Prospects - 125 5 New Clients Hot Prospects * 5 = Qualified Prospects Needed
  12. 12. Determine Suspects… Hot Prospects - 25 Qualified Prospects - 125 Suspects - 625 5 New Clients Qualified Prospects * 5 = Suspects Needed
  13. 13. The Funnel… Hot Prospects - 25 Qualified Prospects - 125 Suspects - 625 New Clients - 5 625 125 25 5 Monthly
  14. 14. The Funnel (Annually)… Hot Prospects Qualified Prospects Suspects New Clients 7,500 1,500 300 60 Annually
  15. 15. What Does This Mean? Qualified Prospects New Clients 1,500 60 Annually
  16. 16. What Does This Mean? Qualified Prospects New Clients 1,500 60 60 / 1,500 = 4% Annually Percentage of Qualified Prospects NOT sold 96%
  17. 17. What Is The Opportunity? 96% 96% of Qualified Leads Go Unsold That’s Called “Lead Leak” In the typical company’s sales funnel
  18. 18. Drip & Nurture Stops Lead Leak! Do it With Drip & Nurture Marketing! You only need to sell an additional 4% of your qualified leads to double your sales volume! 96%
  19. 19. Retail Sales Systems, LLC © Copyright 2009, Retail Sales Systems, LLC. All Rights Reserved. Retail Sales Systems, LLC (800) 500-7767

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