Get the right people on your radar
Whether digital, direct or measured media, marketing is fuelled more and more by technology – enabling you to realize various benefits in both marketing effectiveness and efficiency. Brand strategy agencies can see Marketing Automation services are becoming a greater and more important part of successful businesses seeking to break beyond their current limitations. As digital marketing is moving away from a focus on creating websites with a million and one calls to action, which overwhelms and even confuses to a point of walking away. We can see the importance of developing a Qualified Sales Funnel to be successful.
We aim to answer the simple but ever-so-important aspects of getting the right clients at the right time so you’re not wasting time and money on people who aren’t going to add to your bottom line.
So, what is a Sales Funnel?
It is a consumer-focused marketing model that illustrates the theoretical customer journey toward the purchase of a product or service. When you break it down there are 3 main components to consider in your Sales Funnel:
After you have, (hopefully), closed the sale at the bottom of the funnel you’re going to want to consider Aftercare Marketing as well.
What’s the difference between a lead and a qualified lead?
According to Merriam-Webster ‘lead’ means “to direct the activity operations, or performance of” and “to bring some conclusion or addition”. But there are all types of leads, some you don’t want to waste your time or budget talking to… connect to below…
Information Qualified Leads (IQLs)
Are leads that have received valuable information in return for their unique contact information. E.g. individuals who have signed up for a subscription service like an eBook or otherwise. These individuals are at a very early stage of the process and aren’t familiar with your business and likely haven’t considered it as a viable solution yet.
Marketing Qualified Leads (MQLs)
Are when IQLs take that extra step and engage with your marketing advances this makes them a Marketing Qualified Lead. E.g. Individuals who have engaged or downloaded walkthroughs of your business, product, or services’ and their effectiveness. These individuals are more curious than IQLs but still aren’t sold on your offering.
Sales Qualified Leads (SQLs)
Have gone through marketing and been qualified and vetted by your sales team as a good fit and a likely prospective buying client. E.g. Individuals who are watching product or service demonstrations and/or participating in a free trial. SQLs have demonstrated a strong congruence with your business, product, or service offering and should be addressed and followed up with directly.
Turning a lead to a prospect
As we work our way down the funnel, the ideal scenario is that every lead becomes a prospect.
Meaning a lead that’s proven to be a great fit for your business, product, and/or service and is ready or better yet wants to interact with your sales department. This is the first chance you get to consider how you could have qualified your leads before they become a prospect. i.e Are they even in the market for what you’re selling?
Identify Sales Opportunity
As soon as a prospect progresses to the final decision-making phase of the funnel they are no longer a prospect and you are now presented with a sales opportunity. This is really the second stage of qualifying your sales journey.
Here you are presented with the chance to sell, up-sell or cross-sell – hopefully all of the above but ultimately dependent on how/what you sell.
After you’ve secured a sale and done all the heavy lifting your job is done now, right? Not necessarily. They may not even realize you offer other products or services which are relevant to them. Because even though your customer’s initial experience with you is over you still want them to come back again and tell their friends.
This may mean using more pointed and directed marketing efforts to nurture the connections you’ve already established to keep yourself top of mind for the consumer.
The short of it all:
Considering how you can best qualify every stage of your sales to funnel will help you realize the full potential of Marketing Automation. Hopefully, this will equip you with the tools you need to save time so you can watch your sales grow.
Jack Shepherdson: With a love of advertising and branding, Jack Shepherdson is uberbrand’s Digital Coordinator. Experienced across the digital landscape, Jack specializes in producing digital campaigns and projects.