What is a Sales Funnel?
A sales funnel is a place where you insert sales leads. A well-defined sales funnel has stages that happen from the lead to the delivery stage. An example might be that the lead enters the funnel, the sales representative identifies what they need, a meeting and quote happens, and a follow-up occurs to determine how to turn the quote into an order. When the new prospect exits the funnel, you're hoping that a sale has taken place and that they are now a new and happy customer. Sales tracking software enables you to manage processes and track progress on multiple stages of your funnel and your overall portfolio. Sales funnel tracking is an essential part of the process of managing a funnel and without tracking you won't have an opportunity to maximize the potential of each and every lead you receive.
Tracking your sales funnel is crucial
Whether you have a few customers or you have many, chances are that there are deals at various stages as well as forecasted deals coming up soon. Funnel tracking enables you to manage leads, follow up on quotes, track tasks, set reminders, and more. If you simply insert a lead into your funnel and neglect to track the progress, you're not managing that relationship very effectively and things could get lost. It's not easy when you're juggling things manually! Hot leads turn cold and customers could turn to competitors for help. Very few sales people have the sort of business model in place that manages a sales funnel on autopilot without their intervention. Because you might have various clients at varying stages of the sales funnel, being able to easily track where everyone is at any given time can help you save time, free up your own schedule to pursue additional new opportunities, and it can help you walk more customers through the process effectively.
How can software help me with sales funnel tracking?
Software gives you a bird's eye view of precisely what's happening within your customer base and can help you get granular within every one of your opportunities. It can help you quickly identify how many deals you've got in each stage of the sales process and it can also help you move things along and prevent deals from going stale. You can use it to track status updates, include notes about conversations, meetings, and roadblocks. You can use it to report to your vendors or managers what your forecast is so that adequate inventory can be made available, so that resources can be made allocated to you, and for some, it's ideal in that it can let you easily illustrate your efficacy at your job. You can demonstrate your customer relationship management skills to anyone you have to answer to when you can produce a detailed and up-to-the-minute report. And if it goes wrong, you can access data to help you determine what may have gone wrong. If you begin to see a trend happening, sales funnel tracking tools can help you identify potential root causes and strategize to correct any bottle necks in your process.
Start tracking your sales funnel today.
Zendesk Sell is a highly effective sales funnel tracking and customer relationship management tool that can help you get a firm handle on your pipeline. It is a 100% free solution that works well for entrepreneurs as well as the small to medium sized market.