To generate new business, focus on excellent service for current customers. Successful business development mirrors good customer engagement. Many companies fail by letting mid-funnel leads go cold, akin to poor onboarding. Prioritize data-driven top-of-funnel activities and invest in mastering your CRM for mid-funnel management. This ensures a smooth progression through the sales funnel and better conversion rates.

In the world of business, the best way to create new opportunities is by providing exceptional service to your current customers. This foundational approach not only strengthens customer relationships but also builds a robust sales funnel. Much like in sports, where consistent training and performance in practice reflect in actual games, your mid-funnel performance is a direct reflection of how well you’re nurturing existing opportunities.

Fundamentals of Business Development

Think of business development like maintaining a winning team: focusing on the fundamentals ensures ongoing success. Many sales teams pour their energy into booking demos and getting prospects into the funnel. Yet, once prospects are mid-funnel, progress often stalls. This is similar to an athlete who trains hard but falters during actual play due to lack of proper follow-through and support.

The Dangers of Neglecting the Mid-Funnel

Imagine you’re intrigued by a product, eagerly attend the demo, but after that initial interaction, you hear nothing more. This lack of engagement can turn a once-promising opportunity into shelfware, a product you never use. This is akin to a highly touted athlete who, despite their potential, never quite finds their place on the team due to lack of proper coaching and integration.

Similarly, in the sales process, if the mid-funnel is neglected, potential clients lose interest. No follow-ups, no engagement, and suddenly, the promising lead goes cold. This scenario is not just common but a critical issue that many companies face. It’s like recruiting top talent and then failing to provide the necessary support and training, leading to underperformance.

The Importance of Mid-Funnel Engagement

Heavy emphasis on top-of-funnel activities—like booking demos—is crucial, but it’s equally vital to nurture those leads through the mid-funnel. The analogy extends to onboarding new clients. Without proper onboarding, clients don’t engage with the product, leading to wasted resources and lost opportunities. This neglect is mirrored within the company: poor mid-funnel management often reflects a lackluster customer service and engagement team.

Data-Driven Top-of-Funnel Strategies

The solution is straightforward yet profound. First, commit to data at the top of the funnel. Ensure that the demos booked are with the right prospects by leveraging data to guide outbound efforts. This requires a skilled individual who can consistently deliver. A data-driven approach helps in booking quality demos that are more likely to convert into sales.

Mastering Your CRM for Mid-Funnel Success

Next, become a master of your CRM. This tool is your playbook. Invest in understanding every aspect of it, ensuring you can see and analyze mid-funnel activities. With the right team and experience, you can place and interpret data effectively, making this investment one of the most critical for your company. It provides the insights needed to project what will close, giving a clear view of the entire sales process.

Building a Championship Team

In conclusion, think of your sales funnel like a championship team. Top performers are identified and nurtured from the start, their progress monitored and supported through every stage, ensuring that they’re not just good at the start but continue to perform and improve. By focusing on the mid-funnel, you ensure that your sales process is not just a flash in the pan but a sustained, well-oiled machine leading to consistent business success.