When reviewing your sales funnel, it’s easy to get lost in the midst of complex data analysis and not know where to start. Your sales funnel isn’t just about your company’s sales; it’s relevant to your marketing team's strategies as well. If your company is struggling with generatinging b2b leads or revieiwing its sales funnel, here are some helpful steps to take to get you in the right direction.
Start by reviewing your current marketing strategies
Think about your marketing team's performance; does your team have a strong content development strategy? Has your company established its buyer personas? If marketing isn’t effectively working with a B2B professinals's sales journey, it can lead to missed revenue goals. Marketing doesn’t only need to look at the top of the sales funnel; it can work with sales to build a strategy toward revenue growth.
Then, observe your previous sales efforts
After reviewing your marketing strategies, consider your company’s sales team. You want to check your sales channels to see which are performing best in the sales funnel. If prospects are getting lost in specific places of the sales journey, it may be because you haven't spent enough time focusing on each area of the sales funnel. Your sales cycle times should be lower, which means the prospect will reach their destination with less delay in between.
Finally, analyze your marketing and sales data
When analyzing your company’s data, ask these questions:
- How long is each stage lasting in the sales cycle?
- Is your content reaching the right people at the right time?
- How well do you know your prospects concerns and how to alleviate them?
Keep track of the channels you are using when trying to engage B2B prospects; this will allow you to locate key areas in the b2b sales funnel that may have weak performance and need improvement. For example, your company may be attracting prospects during the interest and evaluation stage, but they are losing interest in the decision stage.
With the results from your analysis, you may want to implement a CRM solution for your company. This allows your marketing team to make rules centered around the buyer’s journey, which will help you locate the sales and marketing efforts that aren't reaching their full potential.
If your company is struggling with reaching its revenue goals, a proper sales funnel review can help. Have you found the results you need and are ready for the next step? You’ll want to check out thinkdm2’s blog post on following up with a strong b2b sales presentation.