How your Bottom Line Depends on Filling the Top of your Sales Funnel
Many businesses use a simple funnel to symbolize the flow of turning potential customers into final sales. Whether you’re selling mortgage services remotely or driving the neighborhood ice cream truck, the funnel can easily illustrate how leads eventually turn into revenue.
The wide end at the top shows leads entering your sales system. If all of them resulted in transactions, the funnel would have straight walls like a test-tube instead of tapered, and millions of salespeople would retire young to live lives of luxury sailing their yachts through the Caribbean. Alas, in the real world, many leads are needed to produce a single sale.
I Scream, You Scream…
First, a business needs to attract the attention of customers. That explains the incessant jingle emanating from the neighborhood ice-cream truck. Some of the kids who hear the music will run to the truck like Pavlov’s dogs to express interest in the confections; others will “fall out” of the funnel as they realize they don’t have any money on them. They are certainly eligible to re-enter the funnel on a later date, after securing the necessary financing for a Bomb Pop.
Some kids (and adults) will line up to buy, while others may choose to wait until after dinner to enjoy dessert. Even those who are ready to purchase may change their mind when they survey the inventory and realize that Fudgsicles are no longer available at that time. At each step, more potential clients drop out of the funnel, at least temporarily. That’s why a successful business makes plans to:
- Remarket to the funnel drop-outs;
- Keep adding new prospects to the top of the funnel continually.
No matter the strengths of your products and your team, sales generated will be a fraction of the leads at the top of the funnel.
Besides the quantity of your leads, the quality is also of paramount importance. Who would you rather have lined outside your truck, 100 kids without a nickel between them, or a parent of 5 with a full wallet? A small amount of high-quality leads is much better than a large number of lookie-loos.
LeadPoint can help fill up your sales funnel with quality mortgage and refinance leads filtered by geography, demographics, and credit characteristics at a scale that fits your needs. For more information, call 1-866-832-8156. Now, who’s ready for a Creamsicle?