Build Your Funnel
- April 25, 2011
- Posted by: Rochelle
- Category: Marketing + Selling
Sales people talk about the state of their “funnel”—aka their sales process. Why build a funnel? To move more, larger deals—revenue— faster.
The challenge for boutique firms—where those who DO the work also SELL the work—is building and managing a consistent, scalable sales funnel.
Think about it. You need current clients with urgent matters so you can stay billable. You need prospective clients—the relationships you’re nurturing—for the future. And, you need to ensure your referral sources are keeping you top of mind.
What can you do to keep all 3 in motion and moving down the funnel to billable status?
Resist the temptation to skimp on marketing. Clarifying your message so your marketing collateral can tell your story when you aren’t there is powerful stuff. It ensures you’re spending your time with the right people—those who will hire you.
Try new things as technology continues to change. Social media—used strategically and thoughtfully—can bring the cloud to the ground. Think of it this way: you may be able to expand your funnel or build an entirely new sales channel.
Use outside resources to leverage your time. Experiment. Hire yourself a social media manager (but be sure you’re tracking metrics) to work the details while you go bag the big game.
Funnel in motion=new revenue on its way.
Good post, Rochelle. I’d like to add a point:
When I feel caught between the demands of marketing and doing client work–like there’s just not enough hours in the day to do both–it’s often because I’m spending too much time on a third category of activities–“stuff.”
Answering emails, responding to forums (like right now), filing, bookkeeping, running to the post office or bank or office supply store. Instead of client work (worth $150/hour) or marketing ($50-$75/hour) I’m being “vice president of minutiae,” worth $15/hour. Not a good use of my time!
Unless your business is in such bad shape that you have no work and no prospects, hire yourself a part-time admin assistant to handle the “stuff.” Free yourself up to keep your funnel filled and your clients happy.
Well said Mike. Getting comfortable delegating/paying for administrative “stuff” is crucial…
Ah…nothing like striking right at the heart of the matter, Rochelle! I will ponder these words…