Tired of missing sales forecast? If so it may not be that you and your team are not working hard enough but instead that you are going about things the wrong way.
What if there was a way to significantly increase your ability to accurately achieve your projected sales goals?
I created a simple process for helping companies eliminate that dreaded feeling of coming up short every quarter.
The Classic “Sales Funnel”
In order to explain a Bottom Up Sales Funnel, let’s first describe a typical “Sales Funnel”… you know, where leads are at the top and you track the leads through your sales process until you convert them to customers.
Notice how the sales funnel gets narrower as they progress through the funnel. This reflects the “leads” that are still in the game at any given point.
Said another way, the narrowing of the funnel shows the number of leads that were LOST through the sales process.
Most companies set sales goals for the year or the quarter based on a desired target, which is often an arbitrary figure such as, “Increase revenue by $250,000, or percentage increase in sales, 15%. This can work if they have a SYSTEM (like we help clients create) for HOW they will achieve the necessary conversions throughout the steps of the sales process.
Here is the problem that often results from this traditional model… How many leads/prospects are needed at each stage to ensure you hit the target?
The “Bottom Up Sales Funnel” Helps You Set Achievable Targets
Let’s use Bill the Digital Marketer as an example.
The bottom of the sales funnel starts with a number of clients or revenue that Bill is looking to achieve… let’s say 100 new clients.
Bill now calculates the number of quotes he needs to get 100 new clients. If he converts 40% of quotes to clients he will need 400 quotes to generate 100 clients.
Next, Bill determines how many discovery calls or demos he needs to set up in order to generate 400 quotes. This might be 500 due to missed appointments, unqualified prospects and so on.
Moving on, Bill sets appointments with about 50% of the people he actually communicates with via a phone call, email or text exchanges. That means he needs to communicate with 1000 people to set 500 appointments.
And like many businesses, Bill only connects up with 50% of the “leads” that call him or email him or respond to his marketing or some other manner.
LET”S SUMMARIZE
That means he needs 2000 “leads” that will result in 1000 conversations… that will lead to 500 appointments, of which 400 keep the appointments, and ultimately 100 turn into new clients.
By starting from the bottom up, Bill can build a realistic model of how many leads he must generate to hit his targets, based on his historic results. It creates predictable results instead of pie in the sky wishful thinking.
Can a “Bottom Up Sales Funnel” Help Your Business Achieve Your Targeted Sales?
If your business generates $500,000 or more in revenue, we will help you create a Bottom Up Sales Funnel for FREE! We even promise to help you uncover $10,000-$25,000 in added profit streams in the process. Simply click here to register.
Build your Bottom Up Sales Funnel now and start producing consistent increased revenue and profits.
To your success
Scott Hallman
PS The Bottom Up Sales Funnel applies to every business on the planet, on and offline. We have created these for companies in over 280 industries worldwide.
