Deadly Sales Disease: Funnel bloat
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SOMAmetrics Business Consultancy Deadly Sales Disease Funnel Bloat
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A bloated Sales Funnel makes your Sales Organization look healthier than it is. A large amount of not viable deals can trick you into thinking that you will meet your revenue target, if in reality your Funnel is just bloated. Cure this Sales disease and have a closer look at your deals by following this 6-step program and see your revenues climb again.
Transcript of Deadly Sales Disease: Funnel bloat
SOMAmetrics Business Consultancy
Deadly Sales Disease
Funnel Bloat
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IssuesComposition
Viability
Movement
Sales Funnel Composition
❖ Many sales managers look at the size of the sales funnel, but don’t check the viability of deals
❖ Rule of thumb: sales funnel should be 3-6 times the revenue objective
Deal Viability
❖ Often, 80-90% of deals are more than 2 years old
❖ New deals: after the initial call, Sales Reps need to validate the quality of a lead (need, interest decision process, timeframe)
Deal Movement
❖ many deals are stalled within the sales funnel in the various stages prior to ‘closed’ or ‘closed - lost’ for many months or even years
SOMAmetrics
The CureSales Methodology
TrainingFunnel Inspection
Sales Engagement Tools
The Cure for Sales Funnel Bloat
1. Develop a sales methodology that works for your company
❖ targets, pain, timeframe
2. Figure out the number of stages your deals go through; and which triggers move deals to the next stage.
3. Re-train your team on the sales methodology and make sure they understand it.
4. Take a fine toothed comb to your current funnel: any deal that is older than your required time frame should be removed and re-qualified/put in a nurture program.
5. Build Sales Engagement Tools that support deal movement.
❖ ROI calculator, demo, Memorandum of Understanding
6. Be ruthless with any deal that is added to the funnel: “Get the bad news early.”
The Author - Alicia Assefa
❖ Over 25 years of Telebusiness and Sales Management Experience
❖ Her experience at over 50 companies has helped her to create a set of field tested best practices.
❖ Chief Operating Officer at SOMAmetrics, a business consultancy.
❖ Please email her with any questions or inquiries: [email protected]
❖ www.somametrics.com
❖ 510.206.9263
