I learned an incredibly powerful sales lesson from my mentor John Spence last week; something I call Flip the Sales Funnel. I thought sharing this simple marketing and sales idea might change your mindset and help you close more deals.
As a small business owner or company CEO, the sum of all your effort can be measured by the amount of revenue you generate from your produce or service sales. To grow your business, it is, crucial therefore to pay attention to such activities that would raise your odds of attracting, acquiring, and turning your prospects into repeat customers. You may not be a salesman or front desk officer, but whatever you do must be focused towards adding value to your customers, who pay all your bills.
A sales funnel clearly demonstrates the process that companies lead their customers to buy their products or services. It helps to establish relationships with prospective customers also, and turn them into buyers. Let me explain the traditional approach to sales funnel and then share the lesson I learned from John about how you can flip the funnel.
The Traditional Sales Funnel Process
There are three stages to a sales funnel process, each of which is crucial to the success of any business. Traditionally, business owners fill their funnel top (the first stage) with several tons of leads. Some aggressive marketers load up their funnels with purchased database of names, email addresses, and telephone numbers of people in their niche. With the sales funnel filled to the brim, they bombard their leads with emails and calls every one or two days. The bombardment continues until one or two prospect show interest. They never stop until the prospect either buys what they sell or drops off the funnel.
Let us Flip the Sales Funnel:
What if you flip the sales funnel upside down? So rather than filling the top with a large number of leads, you can target only a small number of people in your niche. Offer lots of value to them over a long period of time until you establish trust with them? Doing that can raise your odds of success, and your business could grow at the bottom of the funnel. So, start with a small number of people you believe can do business with you, and offer them incredible value – tips, advice, how-tos, etc to build trust with them.
Here’s the key; if people buy from people they trust, and you are building your business on trust, then flipping the sales funnel will no doubt help you to build trust quickly.
How to Effectively Flip the Sales Funnel
If people buy from people they trust, then flipping the sales funnel will no doubt help you to build trust with qualified prospects from day one. [Tweet This]
The process is not complex. The next time you plan your marketing strategy, consider the following important four steps:
- Target a small number of qualified people within your niche.
- Offer them lots of incredible free value through your website, blog, or speaking engagements.
- Educate them regularly about how your product or service can help. In order words, position yourself as a consultant and help them to make the right choice.
- Offer a reasonable price commensurate with the value you are adding.
The idea of flipping the sales funnel can help fill your funnel with super qualified prospects, and allow you to focus on nurturing trust-relationship, eliminating distracting leads, and raising your odds of closing more sales.
I hope this helps you. Feel free to use the comment box below if you have any question or need some help.