January 25, 2012

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Your sales funnel is the most important part of your business

Your sales funnel is the relationship your business has with potential buyers.

Most people think of a sales funnel as a “nice-to-know” concept that doesn’t really have an impact on their day-to-day operations.

sales funnel tree pictureBut I think a sales funnel is a strategic tool that every business needs to focus on and optimize. It’s like the foundation of a building or the trunk of a tree — it’s the main part from which every other part of the business grows.

 

Every business has a sales funnel (whether or not you choose to focus on it).

And businesses that DO focus on their sales funnel — making it run faster and smoother and with more people flowing through — will operate a more profitable, growing business than those who do not focus on it.

  • Are you focusing on your sales funnel? (Download this Sales Funnel Quick Reference PDF to get a fast start on your sales funnel)
  • Can you draw your sales funnel? (Download this Sales Funnel Worksheet PDF to help you)
  • Do you know how much each part of your sales funnel costs you to operate?
  • Do you have a list of opportunities that you intend to pursue this year to grow your sales funnel?

[Image credit: Jan-Willem]

January 24, 2012

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Why you should annoy your prospects to grow your sales funnel

Annoy your prospects to grow your sales funnelDid you annoy your siblings when you were a kid? Maybe you poked them or you drew a line across the back seat and staked your claim on one side and forbid them to cross over or you stole something of theirs. And then they’d run off and tell mom and dad. And there were days when they annoyed us. It’s the timeless reality of being a sibling.

As a business owner, you want to provide a great solution to your customers when they have problems… that’s the mark of any great business. But…

PROSPECTS WON’T MOVE FORWARD IN YOUR SALES FUNNEL IF THERE’S NO PAIN

Prospects will buy when they feel the pain of their problem. The more acute their pain, the sooner they buy and the more money they’re willing to spend. (For an example of when that happened in my own life, check out my blog post Rubber boots and sales copy).

When your prospects don’t feel pain, they they’re not willing to buy. They simply don’t perceive the value of the solution at that time. Instead, they give you objections like “it’s too expensive” or “I’m still shopping around”… because your solution IS too expensive (for the level of pain that they feel) and they ARE still shopping around (because they have no reason to move forward).

It’s only when they feel more pain that they are willing to spend the money to solve it. Therefore…

ANNOY YOUR PROSPECTS TO GROW YOUR SALES FUNNEL

Prospects will buy when they feel pain so you can help them feel pain. And you can do this by remembering back to when you were a kid and you used to bug your siblings. What did you do then? You found out what bothered them and then you highlighted it. You brought it to their attention. And you did it over and over until they took action (and tattled).

The same thing applies in your business (but obviously in a more professional way!!!). You find out what bothers your prospects — what pain they feel because of their problem — and then you highlight it. You build content into all parts of your sales funnel marketing that doesn’t just highlight your solution but ALSO highlights the pain of the problem your prospects face.

Create turmoil in their lives. Keep them from sleeping at night by revealing to them just how painful their current situation is. Do this over and over and over (just like you used to do when you were a kid).

And, as you do this, always present your solution as they way to solve the pain.

[Image credit: Catlin82]

January 23, 2012

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What I’m working on this week (Jan. 23 – 28)

Over the past couple of weeks I’ve been developing some joint venture agreements and they’re almost to the point where I can share them with you. Pretty exciting stuff. Stay tuned.

And, I’m (of course) working on client work. The stuff I’m working on this week includes…

  • Writing 3 reports for a serial entrepreneur
  • Pushing forward on a large social media marketing project for an income fund
  • Continuing on a book for a debt management client
  • Helping one entrepreneur get her website up and running and her sales funnel in place