Lead funnel analysis for Construction Industry

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let's talk about a sales funnel and how your target audience enters into it first what is a sales funnel a sales funnel is a term used for the journey potential customers go through on the way to making a purchase there are three basic steps through a sales funnel usually known as top middle and bottom of the funnel these steps may vary depending on a company's sales model a moment we'll show you what our sales funnel looks like think about the touch points your team has with a potential customer and let's define each stage of the sales funnel or user journey process here is an example of our sales funnel and then i'll further define what each step is it's important to clearly define each of these stages so you can understand what's needed to take your prospect to the next level in the funnel in addition it's important to tag or label the appropriate stage of your customer so everyone on your sales team knows if they've been followed up with or not and what they can do to further lead them down the funnel we use a crm hubspot to keep track of our customers and where they are in that process just makes things easier and organized for your sales team let's break down each stage in the bulldog sales funnel we define each stage as follows visitor a prospect who visits our website or views a specific page on our website we don't know anything about this individual except for what can be inferred through google analytics next we have a subscriber a prospect who has provided their email address and opted in to receive marketing communications this is achieved through them reaching out to us filling out the contact us form or downloading a content piece from our social media or website next we have a lead a lead as a prospect who has provided their first name last name phone number job title and company name in addition to their email address we obtained earlier this is someone that is interested in your services these are people you want to reach out to maybe they've expressed that or maybe they've used our quote calculator as far as our sister company metal solutions is concerned then we move into the opportunity phase we break that down into three parts discovery that's a prospect who has the potential to become a customer at some point we are having phone calls with them emails email communications back and forth and occasionally text messages depending on who the customer is at that point we determine if they are qualified to buy a prospect that we've determined has the budget and the needs for our offering then we pull in every decision maker for their buy-in if the project is if the prospect is not the decision maker on their con um on their job we bring in the spouse we bring in the business partner and that's when we get the buy-in then we move on to the quote process and congratulations this is a project that is ready to buy a prospect that's ready to buy if you've sent them a quote and then they agree to the contract guess what you're in the final stage and that means they're a customer when they sign the contract and become a customer then you begin your real work of completing their project my recommendation is that you have content and materials prepared for all the stages of the potential client if someone becomes a subscriber send them an email welcoming to welcoming them to your informational newsletter we use hubspot for this we set it up automatically they get a cadence and we do not have to physically manually send them if someone becomes an opportunity make sure they're getting a call from your sales team if someone is interested but they're not the decision maker have a plan to get in contact with a decision maker so you don't lose out on their business like i said earlier we invite them to our office for a sit-down meeting to discuss their project all of these plans that you put in place will greatly help you and your sales team systematically lead prospects through the funnel i know these definitions are a lot to learn and might be difficult to tackle on your own if you have any questions on this please reach out to me or my marketing team they are called dior design you can google them and they are the real experts when it comes to eliminating gaps in the sales funnel so how can you get people to enter your sales funnel this is what we call generating top of funnel activity to do this you're going to need visitors to your social media and website you can achieve this in a number of ways depending on your target audience and we learned about that earlier in this section of this webinar engage with people on social media put out ads get your name on the radio in your town sponsor events in your community host events in your town generating brand awareness is the first step to people entering the funnel from there you have to network with your target audience to pull in potential customers then you need to make sure all the next steps are in place is your social media active are you able to find yourself on google is your website up to date do you even have a website do you have engagement opportunities on your website do you have clear calls to action that point your audience to call email get a quote fill out a form all of these things are sure to help drive your audience and become a lead just like my friend with the bungalow business i also try to network in my community with businesses that might have the same target audience as me i've connected with a few real estate agents and insurance agents so that when either one of us see a possible opportunity we send potential customers to each other be an active participant in your community when people see you're involved they want to do business with you now that we understand how the funnel works i want to tell you that numbers matter when your process is in place the next step is deciding goals to set goals of how many sales you want to make or how much revenue you want to generate you need to know your close rates from there you need to decide how many quotes you need how many subscribers how many visitors and so on and so forth over time this will help you understand how many of each category you need to reach your goals this will also help your team know what their individual goals are as well you need to know what your close rates are this is how you how many quotes you send and how many of those turn into sales you have to have a baseline in order to set goals and know how many visitors leads quote sales you need to be able to reach those goals