Sales Funnel

How to effectively manage your sales funnel?

Three keys to successful sales

Illustration

Alexander Myskiw

Oct 18, 2018 | 5 min read

Sales issues

This article addresses the issues regarding the effective management of a sales funnel with a focus on three elements. It focuses on the importance of building relationships with the people you are trying to sell to. Kanban is a proven method for improving efficiency and is recommended for the simple organization of everyday tasks. It is well known that punctuality demonstrates respect and is the building block for gaining customer trust, therefore, reminder tools today are a must-have for a modern seller. At the same time, expensive CRM systems are not always the best for effective contact management and not beneficial for creating a personal approach. Facts support that ONLY 36% of their sellers' time is actually spent on sales. Also, only about 18% of sellers spend their time in CRM. We concluded, that focusing on COntacts, TAsks, and NOtifications is a great start to effectively managing your sales funnel.

The three keys to successful sales

Sales funnel management is nothing new for the sales industry, but there are few that truly do it well. For effective sales funnel management it is important to focus on the three keys to successful sales: Contacts, Tasks, and Reminders.

Contacts

In sales, the prospect or lead must feel as though he or she is the most important person in your long list of contacts. Building a relationship with people that you are trying to sell to is the most challenging part of the sales process but there is hope. Today, technology is rapidly developing and although companies continue to provide their sales teams with expensive CRMs that are complicated, lack the tools for creating meaningful approaches, and most importantly restrict effective sales funnel management, there are technologies appearing in today’s market that will change the way your sales team sells in today’s digital world.

Tasks

Organizing your daily sales activities and tasks becomes cumbersome as your sales funnel grows. Keeping yourself and your sales team focused on revenue-generating tasks is the key to continued growth in sales. Believe it or not, only 36% of a salesperson's time is actually spent on selling.
Keeping yourself organized on the tasks that bring value takes prioritizing, organizing, and remembering to always get them done on time. Obviously, easier said than done. We recommend organizing your tasks using the proven Kanban methodology because it easily organizes your processes and is proven to make you more productive. There is plenty of software out there to help set up your sales Kanban method. Of course, we know that we are the best ;)

Reminders

Building a trustful relationship with leads doesn’t start with personalization, but in fact, it’s remembering to follow up on time. Punctual follow-ups demonstrate respect and are the building blocks for gaining your lead’s trust. Gaining your lead's trust is the key to sales success and more closed deals!
Focusing on contacts, tasks, and reminders is a great start to managing your sales funnel effectively, and today’s sales environment currently lacks simple tools for getting the most ROI possible from your sales efforts.

Learn Cotano's success story: How to increase activity in sales (up to 12%) in a large MLM company?

What’s wrong with today’s sales environment?

Before the technology craze salespeople used to turn to the streets, the white pages, phonebooks, and good old fashioned networking. As technology began influencing lives, sales began to see growth. Email marketing, Social media marketing, video conferencing, and CRMs changed the landscape of sales forever. CRMs were the solution to the problem of effective sales, but ultimately only bring value to the executives and board, while becoming a detriment to sales teams.
Only about 18% of salespeople spend their time in the CRM, a tool designed to solve the problem of sales, because the manual data entry and it’s complexity essentially wastes their time.

Why CRMs hurt sales?

Why CRMs actually hurt your sales?

Although CRMs are fundamental to a companies sales initiatives, there is no doubt that there is something missing within the typical salesperson’s arsenal of technologies. Sales need to focus on Contacts, Tasks, and Reminders to bring higher revenues. With the multi-channel method of sales available thanks to technology it is amazing to see just how slowly the CRM market has developed, but still forgot to hold on to what made the salespeople of the past success.
Joe Girard, for example, held the World Record for most cars sold in a year and he did it all by simply remembering his leads' birthday. David Ogilvy, known as the father of advertising, always mentions personalization and trust as the key for successful direct sales.
It’s amazing to think about how salespeople from history used to sell. Amazingly enough, it all came down how they spoke to leads, how they organized their time, and always remembering to work on tasks that build a personal relationship with their leads.
We’d like to leave you with a quick question. Feel free to answer it in our comment section.
If you were able to design your own personal sales technology, What would the three most important functions be?
Hope you enjoyed our first post and hope you come back soon!