Lead Generation Plus Sales Funnel Equals Sales – Here’s How
Lead Generation + Sales Funnel = Sales
Your business thrives when the bottom line is producing a harvest. One of the most important ingredients to making a sale starts with successful lead generation strategies. Knowing how to do this well can mean the difference between going out of business or staying ahead of the competition.
The secret sauce are qualified leads who are genuinely interested in what your business has to offer. We’ve seen this for years in traditional advertising, which is a direct sales pitch. With online marketing, indirect selling (or inbound marketing) is the name of the game as social media has leveled the playing field and created a standard of trust.
A business that is successful with attracting the right leads have been able to make their products or services attractive to their audience in a way that meets their needs and desires. A basic understanding of profitability is essential to this process. Here are a few key points to consider about sales:
● Understand your sales funnel – This is often considered marketing with an emphasis on sales to customers who are in the process of making a decision to buy, as illustrated here in an old concept first developed by E. St. Elmo Lewis in 1898 known as the AIDA-model according to Wikipedia:
It’s important to know how this fits into your business model and target market.
● Determine who your prospects or leads are – The main difference here is whether someone has expressed interest in a product or service, which would turn them into a prospect. A lead is simply a first point of contact, which can be converted into a prospect and eventually the sale.
● Two different ways to develop your marketing – Traditional methods of selling to customers is known as outbound marketing, which is still used today, but produces low sales results as the consumer receives unsolicited offers. Inbound marketing, which is the new method used today by business, is far more effective. Interest from potential sales is generated from quality, informational, and interesting content. This produces a dialogue after an interested audience responds. Once trust is built there is a golden opportunity to convert those leads into sales.
In order for business to be profitable it’s important to have an understanding of lead generation; and, your own sales funnel will provide more opportunities while it helps you to stand out from the rest of the competition.
Think of this as one of the most important tools in your marketing strategy toolbox.