Is the Sales Funnel Dead?

Think about it. If only it was as easy as “filling a funnel” and having sales fall through the other end. I can make 200 calls a day, but who are they to and what am I doing? Just pounding phone lines and telling the company story isn’t selling. Or better yet, when I get the check (the bottom of the funnel) what about implementation or customer service?

Now don’t me wrong, having a good prospecting plan is probably the hardest thing about maintaining your sales career. In today’s business climate, with shrinking budgets and more scrutiny over purchases, what you need is a system that relies less on the law of averages and more on helping the customer make the most of every contact you have with them. The key is to have a complete understanding the entire customer experience and “synchronize” to that buyer throughout—they’re the boss when it comes to the “sales funnel” not you.

To truly understand the customer’s buying cycle and where they are along that cycle will result in a sales process that builds trust and respect, and allows you to become a trusted advisor—that’s the magic recipe for success.

As an example, put yourself in your buyer’s shoes. Or better yet, think about the last time YOU bought something. Remember the earliest stages of need definition? Remember how you progressed throughout the search and selection process? Did that experience end after you wrote the check? I’m sure it continued on into full integration of the product or service into your daily life. What I have done is break down buying behavior into 9 distinct phases outlined below starting from the beginning to the end and this allows you (as a great salesperson) to synchronize with their processes.

1. Plan – The buying organization outlines a plan for its business, such as its strategic plan, realignment of the organization, the acquisition of new capabilities, or define a new vision.

2. Recognize – The buying organization realizes they have a need (based on what happened in phase 1) and seeks to satisfy that need. They begin to take action towards buying (as opposed to making their own solution or product). They act accordingly by setting forth goals, objectives, targets, and budgets. They may appoint a team of people to evaluate potential vendors in this phase.

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