smart selling approach-4
Setting up a Magic leads funnel and Pipeline marketing – primary job of the marketing department
As we discussed in our last post, in setting the climate for lead generation creating a funnel with quality leads is the primary job for any Marketing department.
Even though the current marketing strategies have changed to Digital and more analytical methods, most of the companies still follow legacy systems in assessing the leads and do not understand the Goal of the organization.
The first Goal is Creating an effective lead funnel and this is the primary job of a marketing department. what is an effective lead Funnel? This can be done by Pipeline marketing.
Pipeline marketing – the importance
Pipeline Marketing concentrates on Generating Hot prospects, customers, and revenue and not focuses on lead quantity.
Generating the funnel with More leads that do not convert into site visits is definitely cannot be the objective for smart selling, rather creating a funnel with good and hot leads will be the primary goal of the pipeline marketing technique.
A company that sets this climate and accepts the concept of pipeline marketing will look for generating high-quality leads, which will quickly convert into customers and revenue. This will also be a competitive edge of focusing closer to the target prospects
Once the company starts thinking in this direction, The marketing and sales data are correlated and as we discussed in our last post, the alignment of one goal is set in to generate qualified leads that will come through the funnel.
Pipeline marketing – More Hot leads become a magic funnel
To conclude once a lead becomes qualified by marketing as well as by sales it becomes a Hot buying climate and will lead to conversion. This magic funnel is possible through pipeline marketing which adopts a systematic way of meeting the marketing and sales objectives and results in an optimized cost per lead, as well as results in smart selling.
Pipeline marketing – Benefits
At every stage of the sales process, the Sales team is able to make an assessment of the number of leads in the process as well as the quality of these leads, so that they are confident of closing the sale and achieving their targets
It becomes easy to predict the closures for a specific period, say a month.
The sales team and marketing team gets aligned with a single objective of closing numbers at the end of the period, instead of blaming each other.
we can understand the pain points of the sales team, and find the solutions for each pain point, which ultimately improves the conversion ratio
The prospect objections are analyzed at each stage and the marketing team prepares well laid out advertisements and FAQ for the same, which makes the salesman job easy.
Pipeline marketing also gives a clear picture of the status of leads at any point of time available for conversion. This enables the overall company to predict the closing numbers when the external environment is stable.
Also, Pipeline marketing helps in adverse circumstances to improve sales velocity. Especially in a difficult macro economic scenario, there is better data available to improve numbers quickly using offers and discounts . This gives an edge over the competition as we are able to act fast, as we have data about the future trends as well as on our pipeline status.
The most remarkable advantage with pipeline marketing is nurturing the leads at every stage which improves the lead to closure velocity and the company is able to predict the closures for an assessment period based on the total number of fresh leads, in-progress leads, etc.
Does it sound interesting, to understand How do you set up a magic funnel thru Pipeline marketing- stay tuned.