It’s all change…studying the funnel.
For the nearly 3 years I have been working full-time for a global TV broadcaster. It was a fantastic role, in a great organisation and had the honour of working with some amazing people. Whilst being excited for the future, I know I will miss the people I worked with.
So it is time for something new! In my new role, I’ll be working with companies who want to grow their business, bringing the latest marketing and media tools to bear to generate leads, enquiries and importantly sales!
For the last ten years I have worked in a variety of projects which have been about generating sales, orders or engagement. This new role is right up my street. With a number of projects and clients lined up, it’s going to be exciting to be working in a variety of different sectors, including education, legal and leisure.
One thing I find common across all sectors is the sales and marketing funnel. Every organisation needs a funnel, starting with brand awareness filtering down to a physical sale. In some sectors ‘sale’ is probably a crude term, but in all honesty everyone needs to make sales. The process of where a client agrees to pay a sum of money for a product or service is what makes the world go around.
What is surprising is that many organisations don’t understand their funnel. Perhaps they have been fortunate to have the right connections or a great salesperson. For the rest of us, if we don’t know the buying process and rely heavily on methods which are familiar, we could be waste a lot of time and money.
Sales and marketing funnels generally look something like this…
All our marketing efforts should be spent building and working a funnel. How do we find people who have interest and take them on a journey to becoming a customer. This is the core element of sales and marketing.
In times past this process has included networking, direct marketing, advertising and prospecting. All of these are still valid tools and if you have a really good marketing and sales strategy you’ll know which ones work and which ones don’t. Every business wants to find more people who have a need and interest in their product or service. Nowadays we can also work more intelligently to ‘target’ our prospective customers which can help lower the acquisition cost of a new customer.
These ‘new’ tools are reliant on a good understanding of the prospect. Mapping out buying behaviours and profiling your prospective customers can help you use resources more efficiently. In the cut throat world we live, mapping out the funnel is key to knowing how to use your marketing budget to get the maximum return for the lowest cost.
So my job starting this month is to show clients how to get the maximum return for their marketing budget. If you are looking to develop your sales and want some help, drop me a line.