Empower your business with an effective Prospect sales funnel in United Kingdom
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Prospect sales funnel in United Kingdom
Prospect sales funnel in United Kingdom
Improve your sales process today with airSlate SignNow's prospect sales funnel in the United Kingdom. Streamline your document workflow, increase productivity, and close deals faster than ever before. Try airSlate SignNow now and experience the benefits for yourself!
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FAQs online signature
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What is a sales funnel in real life example?
Sales Funnel Example 1: Netflix Their famous 30-day free trial has become an industry standard, with most digital services offering free services in some capacity. This free trial enters right into the Awareness stage of Netflix's target audience, granting them a full month to test the platform.
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What is the prospecting sales funnel?
A sales funnel mirrors the path your prospects take to become a customer. It describes discrete stages of the customer journey, from first touch to closed deal.
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What is the sales funnel rate?
Sales funnel conversion rate is the percentage of prospects who move through various stages of the sales funnel to complete a purchase or other desired outcome. This rate is crucial for understanding the effectiveness of your sales process and marketing strategies.
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What is a good sales funnel conversion rate?
And here's what they had to say about a good funnel conversion rate. Around 30% of our respondents agreed that 3.1% – 5% is a good funnel conversion rate. A small percentage of respondents, around 18% of them, think that 5.1% to 8% and 1.1% to 3% is a good funnel conversion rate.
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What is the standard sales funnel?
Sales funnels guide potential customers through a series of stages: awareness, interest, decision and action. These stages help you filter out unqualified leads and focus on nurturing and converting qualified prospects into paying customers.
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What is the ratio for a sales funnel?
A high conversion ratio indicates that the business is successfully nurturing leads and moving them through the sales funnel. Calculating the lead-to-prospect conversion ratio is a simple process that involves dividing the number of prospects by the number of leads and multiplying the result by 100.
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What is a typical sales funnel?
A sales funnel begins with many potential buyers and narrows down to a smaller group of prospects. As the customer journey progresses to the middle of the funnel, prospects decrease, and the sales cycle ends with either a closed-won or closed-lost deal. As the sale progresses, the likelihood of closing increases.
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How much does a sales funnel cost?
The cost of setting up a sales funnel can range from $19 to $499 per month, depending on the type of funnel builder tool you choose to use.
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hey everyone so if you're in charge of doing any sort of outbound sales and prospecting for b2b or generally generating revenue for your business there's probably a really good chance that you've been doing things completely backwards now before you get upset with me or offended in any sort of way let me explain so one of the things that i've noticed whether you're a vp of sales a business owner an account executive sales professional people are really really in love with doing cold outreach now don't get me wrong i've done a lot of cold outreach so i used to have an outbound sales agency in the past i have upticks which by the way is not just for cold outreach it does more with lead nurturing and a whole bunch of stuff this video isn't about upticks but one concept that i came up with in my past with my sales agency was a concept called a reverse sales funnel rsf that's what that is and what the purpose of it is is to reduce sales friction so what i'm gonna do instead of like going through and telling you about cold email and telling you about cold calling and linkedin prospecting in all the ways that you can generate appointments in traction for your business to sell more stuff i'm going to talk to you about the strategy a high level strategy that you can use to implement to reduce sales friction in your sales organization and some of it might seem a little bit obvious but 99 of the businesses that i've worked with in the past are not doing something like this because they're really focused on doing cold outreach a lot of the times all right so what i'm gonna do is we're gonna flip it on on its head here with our entire prospecting strategy and i'm gonna go through my reverse sales funnel concept that can really help you with your outbound sales and prospecting for those of you that don't know me my name is patrick spielman i'm the founder at upticks where we help b2b sales teams launch winning sales campaigns with the best sales process strategies and our sales automation platform upticks but enough about me let's get back to you okay so step number one with the reverse sales funnel for your b2b selling process is focusing on your existing customers okay now you're gonna think i'm crazy right and you've noticed the way i have this design it's called a reverse sales funnel for a reason so it's meant to reduce sales friction so the first people that we want to really focus on are your existing customers now let me explain in just a second by focusing on your customers i'm not talking about you know having your reps call them up and direct selling them or anything like that and maybe you have account managers to help you nurture your existing customers and building relationships and stuff like that but your reps who are starting and building relationships with people there's a really good opportunity to just stay in contact with them and so you can do things like drip and nurture sequences i'm not going to get into that too much you know on this video i just want to stay really high level of course from a business perspective there's things that you should be doing from a marketing perspective just educating your customers staying in front of them keeping them informed on new product updates and all that kind of stuff but from a sales perspective by staying in front of them it can really really help nurture the relationship it can help you drive referrals and there's a whole host of benefits that go into it that reduces again your sales friction okay so that's what this is entire thing is really all about is reducing sales friction first so the further down we go in this entire process the more friction there is in selling all right so you're going to think i'm really crazy with this one but the next step in the reverse sales funnel is formers former customers okay so now you're probably thinking oh my god they fired me i'm not you know working with them anymore why in the heck would i focus on former customers because they're your best prospects you've already built a relationship with them and it's a lot easier to get your product and service in front of them maybe sometimes the timing was right or is right and you know maybe they decided hey maybe the grass is greener on the other side and they went and tried a competitor or maybe so a life event came up and they decided hey you know what i need to put this on pause right now your former customers are the best people to stay in touch with and the things i want to point out with these two it doesn't take a ton of effort if you're using a system like upticks that can help schedule and manage and even automate some of this work you can do it essentially on autopilot okay but you should have a bucket of former customers that you can touch base every three months every six months once a year however often you want to do it drive the bus on the process build a sequential process in your roadmap that helps you basically just dictate and manage this entire process okay so the third campaign strategy in this entire process is something that i affectionately refer to as the friend zone all right so the friend zone i'll just spell this out and i've terrible handwriting maybe you've seen my some of my videos in the past it's awful but the friendzone campaign are prospects who essentially gave you a maybe they didn't tell you yes they didn't tell you no but you've met with them right you've had an opportunity to introduce your product or service to them and you've built maybe the beginnings of a relationship and they're sort of dragging their feet right what we want to do with this campaign is we want to push them through the campaign as fast as possible all right but if we can't get the through the campaign we always want to make sure to nurture them for the long term i can't tell you how many times sales opportunities that i've lost in the past in every single business owner and sales professional that i've talked to and brought this up to have told me the exact same thing that they you know they had a meeting with a prospect it didn't go anywhere right at the time and then they completely forgot about them and maybe like a year later two years later or something like something you know jarred a memory in your head and you remembered that prospect but all the while what you could have been doing is staying in front of them so step one of the friendzone campaign is trying to push them through the pipeline in the funnel as fast as humanly possible but after that if you don't get a yes or no that doesn't mean we give up on them so just like our formers just like our customers we can put them into a nurturing campaign all right a long-term nurturing campaign this is simple step one send an email out three months later right step two make a phone call right step three send an sms you know whatever it is build a process the process is less important and exactly what you do is less important than just doing it so doing something is always better doing than doing nothing but i can't tell you how many people i've talked to that just go oh my gosh you're totally right i've had so many sales meetings in the past with people who are kind of interested but you know i just moved on and i forgot about them these are some of our best prospects all right so we can't forget about these ones whatsoever okay so the fourth campaign that we can work on for outbound sales and prospecting here are not interested all right so people that you've actually met with right that told you no all right now i'm not going to go all grant cardone on here because i i think that that logic is is sort of dumb with the whole you know not interested as an interested level but people that told you that they weren't interested doesn't mean that they might not be interested in the future i'm not telling you you should waste a bunch of time on these people in the short term what i'm saying is what we want to do similar to these other campaigns is we want to touch base with them every so often and again we can do this on complete autopilot sometimes and a lot of times life is about timing if you're generating a lot of opportunities from cold outreach or even inbound marketing there's a lot of times that people aren't quite ready to buy right then they're doing fact-finding they're doing research okay and it might not be the right timing for a lot of reasons pricing you know where they're at in their business life events there's a lot of different things that can go into somebody not being interested now you can try to get clarity and what i always like to do with this bucket is get acceptance for you to follow up with them in the future so your prospect says you know i'm not i'm not interested hey mr mrs prospect you know totally understand hey would you mind if i followed up with you periodically every few months three months six months something like that just to stay in touch it's pretty low pressure and most of the time i would say more than 50 of the time maybe even 75 80 percent of the time people are gonna say yeah sure you know circumstances change all right so this is a good one now we're going to get into some of the realm that you're likely used to so as you've noticed here each one of these rungs there's usually less volume right so you have less customers than you have maybe far more hopefully not less uh former customers but you have less customers than probably people that have put you in the friend zone less customers than what people have told you they're not interested right so now we're getting colder and colder and colder as we go down so the next step in this process are referral partners channel partners all right if i can spell and you can read that then congratulations you're the winner of the day but referral partners so essentially what we want to do is we want to find synergistic companies and now we're getting a little bit more into outbound prospecting like actual outbound prospecting this is a little bit more lead nurturing but from a sales perspective and doing out on prospecting you can drive the bus on this because you've already built somewhat of a relationship with them okay but in terms of referral campaigns there's a little bit more of a concerted cold outreach so we want to do is we want to find synergistic businesses right that you can pass business back and forth and if you're lucky enough to be in the market where you know you're selling a product or service you know globally or nationwide or or something like that you can scale this up pretty good all right but essentially what we want to do is we want to launch a campaign and we want to try to get appointments on the calendar to build relationships with people who can refer business back and forth with you all right so this is a two-way street campaign this takes a little bit more time to sort of get things going but if you can launch a referral channel partner uh campaign you can really really add a lot of revenue to your business and this is a pretty low pressure ask right so the way that we're approaching these referrals and channel partner opportunities is it's a two-way street hey i want to see if you know we can benefit each other's business now there's more strategy than you don't just want to email somebody with something like that but essentially it's a win-win scenario so usually people are interested in growing their business typically not everyone is all right but it's pretty easy to approach these people okay so don't forget about building your channel partners all right so the last step in the entire process here and you've maybe guessed it by now is your traditional cold outreach all right so here's where you're prospecting for businesses doing direct response sales with your ideal prospects who you can send an email make a cold call connect on linkedin on social whatever it might be and you can book a meeting with them and have an opportunity to sell them right away so as i've mentioned of course and you need to remember this concept of reducing sales friction all right obviously particularly if you have customers and you've been around for a little while this is a really good strategy so cold outreach if you are doing cold outreach right now and you have all these other things in place kudos for you that's awesome i'm glad you've implemented something like this into your business but if you're in the business and you've been around for a little while and you haven't implemented this stuff i'm not saying stop what you're doing on cold outreach but you might want to consider pausing it for a second and starting to implement these rungs first before you get into cold outreach all right because you probably have some golden nugget opportunities in these first five before you get to cold outreach coal outreach is the hardest part of all of this process and there's a reason why we call it the reverse sales funnel right i've got bigger blocks down here and we're focusing on hot leads first hot customers all the way down to leads down to cool doesn't mean cold outreach isn't worth doing it is absolutely worth doing i'm just saying if you haven't implemented these first it's probably a good thing to maybe put this on pause and start putting systems in place to cover these first five all right and obviously there's a whole host of ways to do coal outreaches training isn't specifically on cold outreach it's to just get you thinking about this process in a little different way starting to reduce your sales friction and really just nurturing and getting into the habit of following up with people in a sequential structured sales process way that helps you get opportunities that you've had in the past right nurture more and you're going to get referrals from current customers you might get referrals from former customers you might get referrals from people in the friendzone campaign so staying in touch with all of these people and referrals close at some of the highest rates probably the highest rate of any of these prospects are going to come from referrals now we have the referral campaign that's more for channel partners and stuff like that but every single person that you nurture and that is in the top of this list is an opportunity to build a referral partnership with or they know people that look like them that can refer your product and service to them okay so if you're not doing these things take a look at implementing them into your business and in case you're not aware upticks my sales automation software helps with all of this stuff so we help drive the bus on everything from nurturing all of these leads all the way to cold prospecting and we can even service as your your lightweight crm all right so that's my training for today really hope you appreciated it and if you have any questions feel free to comment down below and if you got some value out of this video i would really love if you would consider liking the video subscribing to the channel and hitting that notification bell so you get alerts anytime i launch new videos i try to put out a lot of good valuable content and i build a lot of my content based on what people in my little realm are requesting so i like to put out relevant content for problems that people are having so i can help them solve it so i'm gonna put a couple extra resources up above just in case you're looking at you know building out your sales team or doing any sort of prospecting or lead nurturing or sales automation or anything like that so that you can grow your sales and win customers faster so again my name is patrick spielman i'm the founder at upticks appreciate your time and hope you enjoyed the video and we'll see you soon [Music] you
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