In this post, we are listing 3 common sales funnel-related mistakes that may cost you customers and revenue. Watch out for these mistakes and improve your lead generation and conversion rate.
Everyone’s heard of a sales funnel – fill lots of leads in the top, they then filter though the different layer, lots disappear but then you’ll get some actual sales out of the bottom.
Sales funnel management is a numbers game right? Yes and no is the answer!
Building a lead-generating sales funnel requires knowledge and experience of developing targeted strategies of all three stages of the sales funnel – Top, Middle, and Bottom. In order to build a sales funnel that can help you capture more qualified leads.
1. Not Having an Individualised Strategy for All Three Stages
What’s important to realise is that at every stage you’re targeting a different prospect. The commonest mistake made in sales funnel management is failure to have an individualised strategy for each stage.
Top of the Funnel – Prospects at the top of your sales funnel need an introduction to your company and your products or services. They have multiple options at this stage and you must grab their attention in the most-enticing way possible.
Middle of the Funnel – When you proceed to MoFu (or middle of your sales funnel), you’re targeting customers who want to learn details of your products or services. Product reviews and demos can help you retaining leads at this stage.
Bottom of the Funnel – This is the conversion stage. Here, your prospect is ready to buy your product or service and needs little convincing to make a purchase. Offering them post-sales support or a discount can help you engage them at this stage.
2. Focusing on Lead Generation, But Not on Conversion
It’s mesmerising to see your lead generation potential grow; however, to benefit from the leads, you need to divert your efforts on converting them into customers. Many businesses make this mistake. So make sure that your leads have the opportunity to buy at every stage. This includes Call To Actions (CTAs) and a strong sales message at every stage of the funnel. Think ‘buy, buy, buy’ and how you can make it easy for your prospects to say ‘yes!’ at any stage of the process.
3. Trying to Improve Lead Generation without Split Testing
Businesses often fail to realise that even a lead-generating sales funnel has room for improvement and that they can use split testing to improve their conversion rate. With split testing, you can determine which parts of your sales funnel are doing well and which parts need improvement. Using split testing, you can develop different lead-generation models, test them, and choose the one that offers the maximum value. Constant tweaks are required and you need to constantly monitor how to optimise conversion rates.
The Lead Generation Company
Building a sales funnel is an important business activity. To extract maximum value from your business’ sales funnel, you should consider working with a professional B2B marketing company, such as The Lead Generation Company.
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