A lead generation funnel is used as an approach to generate leads, and manage them systematically until they convert to a sale (and thereafter, of course). Building a lead generation funnel can sometimes be intimidating, not just to those first starting out, but also to seasoned marketers. It is, however, a brilliant way to take your business a few steps ahead of your competition, as a well-planned lead generation funnel will create the best possible sales journey for your leads.
Keeping the different stages of your lead funnel in mind will ultimately assist in the process of getting leads to move from potential customers to a closed deal.
Start by Generating Leads
Your lead generation methods (like having a fully functional website, creating lead magnets, having valuable newsletters, etc) should be generating quality leads for your business. In this phase, awareness is key and you need to find where your target audience is active most, and build a presence in those spaces. This can be done using specific SEO keywords, engaging on relevant social media platforms, and attending events where you are likely to find potential customers. You can use a CRM system like Leadtrekker to capture your leads and build a database, which can be managed on a single platform.
Engage with Your Leads
It’s important to start nurturing your leads the moment they show an interest. Once a lead has entered your sales funnel, you need to begin communicating with them straight away to avoid losing them to the competition. Personalising your communication with them is a sure-fire way to build relationships with them, however, an influx of leads may be difficult to initially interact with personally. This is where Leadtrekker can assist. With automated responses, from the first moment the lead shows interest in your product or service, your lead will feel that they have been heard, whilst buying time for one of your salespeople to speak to them directly.
Track Your Lead Performance
You can choose which metrics are important for your business to track throughout the sales funnel process, and you can always adjust these as you go along. However, be sure to include some essential metrics that will give you valuable data to make meaningful improvements. Some of the most important metrics to measure are:
The Conversation Rate
This metric will show a clear ratio of leads that entered the sales funnel versus leads that converted to the sale of a product or service.
By tracking where your leads originated from, you will be able to increase market spend in certain areas which give you more traction than others. It is, however, still important to have various sources available as everyone follows a different process when making a purchasing decision.
Time Spent in Stages
It is essential to know where your leads are getting stuck along the way; this will allow you to add valuable content during these stages, that might assist them in moving through the stages quicker. If leads stay in one stage for too long the chances of them converting to a sale significantly decreases.
Managing a sales funnel is an ongoing process of tracking and making improvements. Leadtrekker is a powerful CRM tool that can assist you in tracking these metrics and much more. For more information or to request a demo, contact our experts!