Most companies chase after any sales lead they discover or even send their sales team to any new sales lead they come across. They do this without first evaluating their leads and this affects their overall sales. According to data that was collected by Hub Spot, 68 percent of the Organizations that engage in B2B sales don’t have a proper sales process. This contributes to the low volume of sales compared to B2B companies that use it for sales.
The lack of a sales funnel means that the sales team of an organization simply moves around blindly. They don’t have the necessary communication with clients which creates awareness about the product. A company that has a sales funnel is able to spot prospects and remain consistent after getting a sales lead. Without it, the entire sales process is disorganized and potential clients might end up not buying the product or service. Progress made by the business can be measured using the sales funnel, and the sales team is able to make corrections where necessary. B2B sales that are complex need it when making a strategized approach that builds good relationships with their customers. Having a good reputation is one of the key elements to the success of a business and the sales funnel makes this achievable. The better your company’s reputation is, the higher chances you have of making more deals with customers.
Here are three main reasons why you need it:
- Sort and Rank Sales Leads
A business that has a sales funnel is able to consistently have an organized process through which it ranks, sorts and gives priority to the sales leads that it gets. Sales agents are able to know the leads that are most likely to buy the product or service, those that really need the commodity and those that will take time to decide and need a follow up.
- Focusing on the Right Sales Leads
Having a sales funnel makes you focus better as a seller and you spend your time and resources on the leads that are likely to be beneficial. Businesses that lack sales funnel are narrow minded and they end up spending too much time on leads that are bad. Having preliminary steps in your sales funnel such as a request to do an online presentation, provides the opportunity for you to engage the customers in higher interaction. This way, you learn more about your potential customers.
- Building A Longer Term Process For Lead Nurturing
Nurturing of leads becomes easier when you have a sales funnel that consists of multiple points of contact. As the seller, you should keep contacting your sales leads over time until they finally made the decision to buy. Creating a sales funnel helps you design a long term process through which you can reach out to your sales leads in an organized way and gain their trust.