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Steve
02-02-2007, 01:14 PM
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Is Your Sales Funnel Complete?

Quote[/b] ]It’s hard to believe the first month of 2007 is almost in the books. Time flies at an incredibly fast pace and I’ve really come to realize this past month the importance of being organized, having a plan, and staying focused on making it happen.

Have you ever heard someone refer to the sales cycle as a sort of funnel? In a nutshell, you want to get as many ‘suspects’ into the top of the funnel as possible and then slowly but surely you weed through the pretenders to find your true prospects, who you then work to convert to customers.

As you work your way through each stage of this sales funnel, the number of candidates gets smaller and smaller, until eventually all you have passing through the bottom are the ones converted to customers.

Now, even though this is an excellent way to view the sales cycle, it’s actually quite short sited. In fact, this view completely eliminates the bottom half of the sales cycle.

You see, what many view as a funnel, should really be seen as an hour glass. Yes, everything I just mentioned about the funnel is correct. But what it fails to address is the bottom half of the sales cycle, which is what happens AFTER your prospects have converted to customer and drop out of the funnel?

Once this happens, instead of completely dropping out of the funnel, they fall into the bottom half of the hour glass, which looks the exact opposite of a funnel. Now instead of trying to convert ‘suspects’ to prospects, then customers, you’re now working to increase the value of every customer that passes through the top funnel into the bottom half our your hour glass.

Over the next few days I’ll share with you more details about this sales ‘hourglass’ and how you can use it to your advantage to grow you business in 2007.

Stay tuned!