How can you adapt the core metrics of your sales funnel to maximize sales success in your industry?
Any salesperson knows that a well-managed, clear sales funnel is fundamental to sales success. Without this, people who are interested in your products or services may never make a purchase. A sales funnel helps salespeople guide potential customers through their buying journey and provides key insights into customer behaviors. Reps can use these insights to convert cold prospects into hot leads and ultimately into paying customers.
No matter what it is you’re selling, a sales funnel has three fundamental stages:
- Top - Customer awareness and discovery
- Middle - Customers research and evaluate barriers and risks
- Bottom - The decision to make a purchase
Although every funnel has the same three levels, the steps involved to optimize your sales funnel stages and generate revenue vary depending on your business type.
For example, real estate sales is particularly complicated. Unlike other types of businesses, real estate reps often don’t have control over what they can sell. Therefore, it’s crucial that agents qualify prospects so as not to waste their time and energy on a lead that will never buy. The key metrics for a real estate funnel could therefore be:
- The true level of interest in buying a property
- Exact customer expectations from a property
- How much they’re willing to spend
- Other preferences such as neighborhood / location
What metrics does your sales team use, and would they find some of our sales funnel templates useful in generating more leads?