This metric denotes the time it takes to convert a lead from the first contact to purchase. In other words, it tells you how long a sales rep spends to close an opportunity. Drilling into this critical metric reveals the effectiveness of your sales team, and helps you identify any barriers in your sales process. After all, the shorter the sales cycle length, the faster your revenue stream.
The first stage in setting up sales funnel reporting is to understand your sales process fully (perhaps using a technique like flowcharting). While sales processes are often quite similar from company-to-company, there can be points of difference depending, for example, on the size of the order and the consequences to the client of making the wrong purchase decision.
I'm going to show you some examples of just really kind of the fire power that ClickFunnels brings to the table. What you're seeing here is literally the inside of my ClickFunnels account and just real fast, I want to just scroll down and let you see the kind of activity that I create inside my ClickFunnels account. These are all active or semi-active funnels that I use on a weekly basis for my business. You might be wondering, "Well, Josh, what do you do for business?" And I do a few things. I have a few streams of revenue, if you will, businesses. One would be SalesFunnelMadness.com, which is right here. I talk about ClickFunnels, I talk about building sales funnels and I help people build their sales funnels.
ClickFunnels is now a fairly mature service developed by Russell Brunson and his team. It’s now been up and running for more than 3 years at the time of this review. As a quick aside, I learned about ClickFunnels through Russell’s new book DotCom Secrets: The Underground Playbook for Growing Your Company Online. If you want to learn how to sell products, then I highly recommend it.
In fact, by the time a potential customer actually reaches out to a person in your organization, 70% of the decision-making process will already have taken place. Puts into perspective why you need to have online and website-based tools to act as proxies! (See Why ZMOT is Relevant for B2B Marketing: 4 Data-Based Reasons and Inbound Marketing and ZMOT: Perfect Together?)
When it comes to Backpack, you are not short of useful marketing features either! Backpack is a native application that you can use it for managing affiliate marketing processes. The backpack allows you to seamlessly integrate affiliate programs into sales funnels, giving you enhanced power and information. With Backpack, you can effectively view your affiliate progress, see your affiliate profile, assess your due payments, set up commission plans and tiers, and manage your affiliate funnels.
The Actionetics email builder also comes with an Action Funnels feature which allows you to hyper-segment your contracts in order to trigger external and internal actions at the appropriate time. Internal actions may include, for example, being removed/added from an email list, which external actions may include things such as being able to receive email sequences.
In addition to using your sales funnel for strategic planning, you can use CRM software like Pipedrive to help you save time and focus on moving more customers to the end of your sales funnel with automation tools and activity reminders. For instance, the Smart Contact Data feature can decrease prospect research time and email templates can save time spent on drafting emails from scratch.
But if you still use separate tools to email and call your leads, then visibility into their different touchpoints at different stages in the funnel can be difficult to figure out. Use a CRM software with built-in email and phone instead. You can create email templates in your CRM to quickly reach out to leads. Even better, you can automate sending out the first welcome email to new leads using workflows. Modern CRMs also track your emails and notify you when the lead opens your email. This is a nifty feature to know when to take action and move your lead to the next stage. You know, strike while the iron is hot? So now you’ll know if your email is getting read or not. You can also use email metrics to test your email performance, and craft better ones to increase open rates.