What is it? Have you sprung a leak? And what can you do about it?
No one wants a leaky sales funnel. A leaky pipeline is not good news. The first and most important thing to investigate is the cause of the leak and what effect is it having on your business. Leak = lost revenue. The quicker you can find the leak and take action the easier it will be to turn that leak into revenue. That’s right, more cash in your business.
So, what could be the cause, there could be lots….
- Are you attracting poor quality enquiries and leads?
- Is your content/offering of poor quality?
- You have no call to action
- Lacking clarity in your messaging
- Not taking your website visitors on a journey
- Not following up quick enough
- Don’t have enough information to engage with your lead
- Bad enquiry process
- Poor follow up system
I could go on, but in all honesty, if you have a leaky funnel, the cause will likely be unique. No business is the same and that is why it is so important to look at the cause before you try to even attempt to plug the leak and fix it.
Any one of the causes listed could result in you not progressing your pipeline.
Are you losing potential customers, warm leads, or actual customers? Let us explore and think about the actual stage of when you are leaking. Let’s explore and analyse your customer experience/journey.
What is a customer experience/journey?
Forbes describes the customer experience as the “cumulative impact of multiple touchpoints” over the course of a customer’s interaction with an organization.
For now, I want to look at the customer experience and focus on buying just on product or service not the entire customer lifecycle. We want to look at the touch points people have with your business over the time to buy the product from you across all available channels i.e. on the phone, website, social media, face to face, video calls etc.
Take some time, I find first thing in the morning is great before you digest any content. Before you read the news headlines, scroll over your social media, be it personal or professional, do not let anything cloud this process. You really cannot start to fix anything until you identify the problem and what is causing the leak and ultimately costing you the win.
What you can do to spot your leak
Put yourself in your customers shoes (your actual ideal client, those people you want to be attracting, converting and working with) or you can ask a friend or someone in your business or a relative to take the customer journey for you, that way no unconscious bias can sneak in.
- Map out your intended customer journey (if this is something you don’t already have).
- Take yourself through your customer journey, each step at a time
- At each step make a note of anything that is not obvious to you, think about your customers’
- experiences and
- List your values and what you and your business stand by – make sure everything you do at every stage and customer touch point is aligned with those values. For example, your company values maybe ~ Integrity, Boldness ~ Honesty or ~ Trust, Accountability & Commitment to Customers ~ so ensure at each touch point you are walking your talk. Make sure you can see, feel, or hear those values coming through every step of the way. Bring your values to life and if you are not doing that, it’s OK make a note and ensure that you make this an area for focus and improvement.
- Once you have completed the typical customer journey and made all your notes, take time to reflect on your finding. Take a step back for a few days, you will be amazed the results that can come from actually not taking immediate action. It is vital that you allow your time to process your findings. Then the real fun can begin…..
Did I say fun, that’s right! Don’t look at your leaky sales funnel as a massive negative, look at all the positives it can and will bring you. I think it is important and I ask all my clients to take the time and make the effort to review and evaluate their customer journeys regularly, a leak can spring at any time so it’s important to pay attention.
Lets get you in the right gear and by that I mean thinking about all the positives, you having walked in your customers shoes can and will bring:
- Greater understanding of what you offer
- Clarity on the experience your customers take
- Insight into how they feel from your content or the ease of being able to interact with you
The list is long and really is a gift but I am not here to bore you with long lists, I want to inspire you to seek out how you can constantly improve your offering and create more revenue in your business, right into your pocket.
Leaky Sales Funnel can be where the hidden value lies
My personal and favourite thing of exploring leaks with my clients is looking at what value is missing and how we can add more value and at the same time charge for it and create a whole new revenue stream. I love nothing more than taking one small leak and while fixing the first leak creating a whole new revenue stream. Often, it is the obvious and there for the taking, other times you need some support, a guiding hand or a second pair of eyes to help you get there. Don’t be afraid to ask your existing customers for feedback and their honest appraisal of how they find their buying journey. You will be surprised just how willing and eager they will be to help.
Go on, eat that frog today and find out who is willing to help you.
Get in touch and book a 15 minute chat with me, Nat if you are in a rut and need some rocket fuel.