Efficiency and simplicity are the two wings that have to be flapped together, such that, it takes the business to a great height. The reason to incorporate creativity and be simple, at the same time, is because it is very necessary to make a Sales Funnel CRM !
Sales Funnel is the pictorial representation of Leads, prospects, customers, service and deals in the form of a funnel, which is used to get a streamline movement. In business the same kind of movement is required to reach goals. Sales funnel provides the idea about number of leads that occur, amount invested for marketing and customer generation in business, sales completed and more. This acts as solution to certain problems in Sales department. Marketing is also seen in few stages of sales funnel.
Sales Funnel CRM :
CRM features the sales funnel process to quickly solve customer related problems like lead lost, decrease in customers, discontinuation of future service etc. Efficient sales funnel should be created in a simple way to make business much stronger in sales and service. Sales funnel is divide into several topics, they are :
1). Lead Stage
This region is very vast and an open gateway for customers to get into business. This is due to lack of ability to understand customers. Many businesses make product first, and then look forward to sell it to customers. But it is not profitable for long term. On the other hand very few businesses survey about customers, to understand their needs and then provide service/product and satisfy them.
So, this region in funnel should be expanded by marketing creatively and knowing what can be sold easily, giving attention to customer needs and then finally, by working on service/ product.
2). Negotiation Stage
A customer dropping out creates the main problem in this stage. There is lack of communication and presentation skills, by the employees, which results in creating mismanagement at the negotiation stage. Leads often fall apart and very few stick on, for reasons which could be as simple as the product being their necessity.
This is where business comes at a hand-to-mouth stage as it will have only few customers in hand. Making a valuable product, matching customer needs can be exactly what is needed to widen this region. Effective negotiation should be present and a firm business relationship with customers has to be built, which goes along with persuasion skills of the sales representative.
3). Sales process Stage
Once the leads progress to the next stage, it is confirmed that service has to be done. But this region too might shrink for simple reason that state that a customer may not have liked the product for its price, quality or the product may not be up to their expectation.
Initial marketing processes need checking and innovative ideas should be implemented to bring more leads. With the aid of Lead automation, company sales can be improve
4). Deal Stage
This may be the final stage where only limited customers continue with the business and be the loyal customers to the brand. This loyalty ensures long term business relationship but only with few customers. To bring in more customers creative marketing with simple ideas is the best solution. Making use of CRM as a marketing tool uncovers many hidden opportunities to make an efficient marketing process, over a large area of network, which now includes Social media as well.
After getting a brief idea about sales funnel, running and managing a business becomes very easy and simple. Sales funnel is more than a tool used to nurture business and its effect can be seen at the final stages and also at the beginning stages of the business.