During the sales process, there are many ways to lose a lead within the sales funnel. These lost leads represent a large amount of potential revenue that can be gained by stopping the leakage. Here are three of the most common reasons funnel leakage occurs, as well as suggestions to stop it.
1. Handing off leads too early to sales
Unqualified leads that go to sales are not able to be converted. This wastes the sales team’s time and your money. Oftentimes when this happens, the lead is dropped and any potential sale in the future is lost.
2. Not touching leads enough
It is important to nurture leads in order to remain top-of-mind. Just because they are not ready to purchase doesn’t mean that they won’t be in the future. If you don’t nurture your leads through regular communication, prospects will begin to forget about you.
3. Touching leads too much
While it is important to nurture your leads, there is a balance between staying top of mind and annoying them. Finding this balance is critical for sales success.
Ways to Plug Sales Funnel Leaks
In order to manage a large number of leads, it can be helpful to utilize marketing automation in order to track leads through the sales funnel and reach them in the appropriate way based on their sales-readiness. Through lead scoring and nurturing, you can segment leads based on their stage in the sales funnel and connect them with information that is relevant and timely. Keep in mind that the relationship with the lead is most important and that the lead’s score is simply a useful tool to judge sales-readiness.
Another essential aspect of sales that helps to plug the funnel leakage is a comprehensive strategy. A strategic approach to lead nurturing serves to move prospects through the various stages of the sales funnel. Much like marketing automation, the goal of a sales strategy should be to build relationships with prospects.
Learn more about Invenio’s marketing automation services and how we can help prevent your sales funnel leakage.