Get to know your own numbers
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If you’ve made it here we’ll wager that you’re looking to build your own Demand Generation Funnel (or Sales and Marketing Funnel if you prefer).
Aside from being a brilliant business tool a good funnel can help you and your business do a stack of things including:
71% of SME’s are aiming for growth over the next 3 years according to UKGov if you’re one of them then building a funnel is a great starting place. Not only does a well formed funnel give you visibility of the different stages in your sales and marketing cycle but it also helps you identify both “blockages” and star performances.
For example, getting visibility into your own conversion from Click to Inquiry/ Lead will tell you which channels are performing best and allow you to shift budget into the right areas that really impact your bottom line. For others it’s the gulf between “leads” and sales – being able to assess the effectiveness of your inbound leads and the real time close rates gives you the power to make changes that increase your revenue – working smarter than ever before.
We’ve probably all heard the old phrase “I know half of my marketing works – I just don’t know which half”. Well, forget it! It’s simply not acceptable anymore to not be able to measure what’s working and what’s not.
Most businesses will have some measures in place at channel or department level but struggle to assess how these are really feeding into the wider picture of course, overall business performance.
A well founded Demand Generation funnel helps practitioners in both Sales and Marketing as well as business leadership really see which channels, campaigns and tactics are being effective. Not just in isolation but from end to end, identifying any wasted spend and giving your teams the power to make quick decisions that genuinely help improve performance.
If you’re ready to build your own funnel check out the tool above or read the full blog here.