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Nurturing Leads and Customers - Turning your funnel into an hourglass
- 1. Nurturing Leads and Customers Turning your sales funnel into an hourglass Presenters Katie Griffin, KG Visions Marilyn Benninger, CGA Softrak Systems Nurturing Leads and Customers
- 2. Session Agenda Part 1 • The W’s and How To’s that always apply • Nurturing Prospects through your sales funnel Part 2 • Turning your funnel into an hour glass • Nurturing customers Nurturing Leads and Customers Summary & Visa Gift Card Draw
- 3. Nurturing Leads and Customers About Us
- 4. Nurturing Leads and Customers About You
- 5. Funnel & Hourglass Fundamentals Why • Engage • TOM: Top of Mind • Magnify How • Tools • Analytics • Closed sales Who • Sales Responsibility • Don’t assume; analyze • Identify market When • Now • Multiple experiences • New & established sales What • Action Items • Give & Get • Selling without Selling Where • Points of contact • Be findable • Make sure it works Nurturing Leads and Customers
- 6. • Smaller is better • Understand your sales cycle • Some stages are longer • Action items • Nurture all the way • GPS of your sales process Understanding Your Funnel Suspect Prospect Follow Up Analysis Solution Sale Nurturing Leads and Customers
- 7. Turning Suspects into Prospects Nurturing Leads and Customers Why • Conversion • Introduction • Create interest How • Sophisticated telemarketing • Be different • Plow through What • First Impression • No gimmicks • Conversation Who • Target Market • Qualified Leads • Personal Where • Identified prospects • New Opportunities • Empower
- 8. Example Nurturing Leads and Customers
- 9. Getting to Know Your Prospect Nurturing Leads and Customers Why • Find Facts • Identify • Create Trust How • Tools • Gentle • Start Conversation What • Key Questions • Professional • Pleasant Who • Who’s who • Direct • Characters Where • Laid Foundation • “Second Date” • Nurturing
- 10. Nurturing Leads and Customers Example
- 11. Follow Up – Your Virtual Investment Nurturing Leads and Customers Why • T.O.M • Unforgettable • Consistent How • Analytics • In Touch • Personality What • Events • Newsletters • Telemarketing Who • Team Players • Outsourced Support • Network Where • Trust Building • Ask Questions • Business Philosophy
- 12. Analysis – Thoroughly Investigate Nurturing Leads and Customers Why • No Surprises • Reinforce • Forward Motion How • Explore • Tough Questions • Listen What • Give & Get • Q & A’s • Promoting vs. Promising Who • Outside Experts • Staff • Decision Maker Where • Details • Expectations • Deliver
- 13. “An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.” ~ Jack Welch Nurturing Leads and Customers
- 14. Solution – Your Time to Shine Nurturing Leads and Customers Why • Solution • Prepared • Adjustable How • Format • Mirroring • Answers What • Deliverables • Wish List • Options Who • Reviewer • Third Parties • You Where • Transparent • Nurture Transition • New position
- 15. Sale – A Model Nurturing Leads and Customers 200 Suspects 50 Prospects 50 Follow Ups 13 Analyse 13 Solution 5 Sale 100% 25% 25% 6.5% 6.5% 2.5%
- 16. End of Part 1 • The W’s and How To’s that always apply • Nurturing Prospects through your sales funnel Part 2 • Turning your funnel into an hour glass • Nurturing customers
- 17. • Personal is better • Understand the usage cycle • Some stages are longer • Action items • Nurture all the way • Lifetime value of a customer Building the Hourglass Welcome Educate Support Retain Referrals Repeat Nurturing Leads and Customers
- 18. LVC = (Average Value of a Sale) X (Number of Repeat Transactions) X (Average Retention Time in Months or Years) Example: gym membership $20 X 12 months X 3 years = $720 ($240 per year) Lifetime Value of a Customer Nurturing Leads and Customers
- 19. Welcome Nurturing Leads and Customers Why • Nurture customer loyalty • Reassures decision • Shorten time to usage • Establish trust Who • Organization culture • Assign responsibility When • ASAP after sale Where • Surprise and delight How • Email • Link to video • Phone • Snail mail!
- 20. “Don’t think what’s the cheapest way to do it or what’s the fastest way to do it…think what’s the most amazing way to do it.” ~ Sir Richard Branson Nurturing Leads and Customers
- 21. Example Nurturing Leads and Customers
- 22. Educate Nurturing Leads and Customers Why • Future referrals • Reduce low value service time • Learn from customer experience • Inspire loyalty Who • Front line staff • Sales team When • As per usage cycle Where • Website • Google AdWords, Remarketing • Email • On hold message How • FAQ’s • Online knowledge base • Blog • Newsletter
- 23. Support Nurturing Leads and Customers Why • Lock in loyalty • Reinforces purchase decision • Obtain customer feedback Who • Help team • Share roles • Share results When • Tiered support options Where • Website • Third party training • Face-to-face seminar • Remote access • Onsite How • Self-serve knowledge base • YouTube videos • Customer forums
- 24. Retain Nurturing Leads and Customers Why • Maximize LVC • Create community • Drive engagement Who • Account management • Share results When • Reasonable time, as per usage cycle • Frequency • Consistency Where • Web feedback forms • In product • After event surveys How • Customer care program • Loyalty programs • Third party surveys • Lost customer campaign
- 25. Referrals Nurturing Leads and Customers Why • Smooth transition • Fills the top of the funnel Who • Organization culture When • Set expectation early Where • Web • Sales materials • Email signature • Blog • LinkedIn How • Testimonial book • Net Promoter Score
- 26. Net Promoter Score Nurturing Leads and Customers One Question: How likely are you to recommend this company (product/service) to a friend or colleague? 40 = 60% - 20%
- 27. Summary • Differentiator • Implement a measurable system • Customers sell themselves • Customers = repeat buyers • Customers = referral network Nurturing Leads and Customers
- 28. Questions? Nurturing Leads and Customers
- 29. Lucky Draw Winner! Nurturing Leads and Customers