At Tribe Blue and our on-on-one consulting we teach that building your business is a process. Strategize, plan, execute, measure, and reload. Generating revenues is the same.
Sales consultants like to talk about the funnel. A bushel of leads enters the funnel. The leads are winnowed after qualification and prosecution until only a few exit the funnel as actual sales.
But the focus on a funnel is short-sighted. Let’s say you’re the guy in charge of sales. Your goal is 10 sales this quarter. You’re damn good and know that you can close 20% of qualified leads. Marketing generates 50 leads. So you’re set, right? No. That’s a separate funnel. If 20% of gross leads are qualified, you can only expect 10 qualified leads and to close 20% of that, or 2 sales. Marketing actually needs to generate 250 leads for you to make quota. Uh-oh!
Tactical funnels don’t exist in isolation. There are a series of operational marketing and sales funnels that encompass and qualify markets, prospects, leads, and accounts. Indeed there is one huge funnel that stretches from mass markets of tens of millions of business or consumers customers to the individual customers that trickle out the other end.
When you build a manufacturing plant, you don’t just engineer one machine. You design the entire layout, including machines and production line, from raw materials to finished product.
It’s the same in marketing and sales. Each step in the master funnel must be managed to ensure maximum sales. We call it the Revenue Typhoon because it’s the secret to printing money.
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