Liz Heiman explains that the sales funnel is shaped like a funnel for a reason because there are many more conversations and prospects at the top of the funnel than there are at the bottom. The goal is to have leads fall out of the funnel, so you can focus on the leads that matter. She discusses the priorities of managing a sales funnel, such as closing ready-to-buy clients first, prospecting for new leads, qualifying new leads, and developing solutions.
Liz advises tracking leads, opportunities or deals in a CRM or spreadsheet, and mapping the sales process to the buying process, rather than following a fixed process based on stages. By doing so, salespeople can stay focused on the right priorities and effectively manage their sales funnel. She recommends using Gardner's infographic on the real sales process to understand how the buying process works.
This episode is a must listen if you are looking to build an effective sales strategy and sales funnel that keeps your sales team busy. If you're an entrepreneur looking to fill your calendar with more sales meetings & close more leads, you won't want to miss this.
Episode Highlights
03:22 - If you don't put stuff in the top of the funnel, there's not going to be anything to come out in six months. So if I am tracking my leads, my opportunities, or my deals, either in a spreadsheet or in my CRM, then I ought to be able to look at it and go, yep, I need 20 things to come out the bottom. I got 200 things in the top of the funnel and I'm moving them through slowly. And I know this one's going to close in six months and this one's going to close in nine months and that one's going to close in twelve months. Right. So that we're actually mapping their journey through our sales process or through our funnel as they're making buying decisions. So that's what I would teach you, and I would teach you to set process up based on stages, not activities.
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