Streamline Your Processes with airSlate SignNow's Digital Conversion Funnel for Support

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[Music] let's talk about your conversion funnel these are the six stages of your customer journey and it starts with a visitor a visitor that's an anonymous person who visits your website and next is a lead that's the first stage when they provide us with contact information about themselves it could be a name and an email but it's something it's something that we can actually now capture and associate with that visitor next is the marketing qualified lead this is someone who's actually engaging with our product and our website in a way that demonstrates that we can continue to market to them are they reading our blog are they opening our emails are they engaging in the newsletter we identify that this is a group this is a contact that is marketing qualified next is sales qualify this is a behavior that triggers an event that we know that their sales ready this is a lead that is primed to be able to communicate with your sales team and finally in the sales process there's a method of generating a quote right or a proposal what does your sales team do to actually work through that customer's experience to give them a quote or a proposal and finally a customer right the end result that we're all at so as we can see our conversion funnel start all the way from the visitor down to the customer but each stage of these we have conversion rates right a visitor to lead conversion rate we have a lead to an mql conversion rate mql to an sql conversion rate sql to a quote and finally a quote to a customer so when we're looking to spot the leaks the first step is that we want to actually identify what is the conversion rate through each of these stages so the first would be a visitor to elite so let's say you have a thousand visitors who come to your website and 100 of those visitors provide you with contact information so that would give us a conversion rate let's hear in a visitor and a lead of ten percent okay now of that hundred of those hundred leads let's say 75 of those were marketing qualified okay so we have 75 marketing qualified leads so the lead to mql ratio 75 percent okay now when it comes to the sqls let's say we generated 5 so what's the ratio between our mql and our sql well that's six percent right and of those five sales qualified leads they get five quotes to generate five proposals so that's a hundred percent conversion rate between an sql and a quote and finally of those five quotes four become customers right so we close eighty percent of votes that we generate that become customers so when we're looking at this funnel and these conversion rates we've got to identify where are the metrics that are jumping out to us is it the 10 is it 100 or is it the six percent so if we're saying that we're generating 75 percent of our leads are marketing qualified that's great that's not where the leak is but only six percent of those marketing qualified are sales qualified so when we're taking a peek at this we need to identify that this is the area of focus right why is it that we're only generating six percent that are qualified for sales and furthermore we need to know that this is not always a linear path right so a visitor is not always going to become a lead you come into the mql's sql et cetera they're going to enter and zigzag their way through this funnel but one trick would be to identify the visitor to sql ratio right we had a thousand visitors but only five converted so that gives us a 0.5 conversion rate meaning only 0.5 of the people who are coming to our website are sales qualified that's your lead so this simple exercise can help identify and illuminate where the problem points are and how you can help address and attack first now oftentimes clients ask should we start top down or should we start bottom up um and that's truly up to you it's a preference on you know where your leaks are your industry your pain points but frequently we like to begin at looking at well how do we make sure that we can generate more sales qualified leads right because that's the closest to be actually becoming your customer now if you have a ton of sales qualified leads maybe you want to start looking at more you know top of funnel initiatives but either way this simple exercise of mapping out your conversion rates through these stages of your funnel is a great way to identify those leaks and put a stop into your plumbing you