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What is a Lead Funnel?

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Learn key concepts around how an efficient funnel can help your business get better leads while building a revenue machine..

What is a funnel?
Today…. we talk about a different kind of funnel. One that can bring more qualified leads into your business resulting in repeatable revenue.

On hand, there are leads you get as a business. You know the ones that come from trade shows, online advertising and other vehicles you spend money on. Down here, this is the revenue you hope to get from the above leads.

Everything in between? That’s the funnel which mixes in Sales and Marketing processes as well as technology. The Goal, of course is to develop a healthy funnel to optimize leads moving to revenue in an efficient and timely fashion. Oh yeah, let’s make that measurable. So the next time your CEO asks if the big trade show is worth the investment, you’ll have some real numbers to back up your budget request.

There are all kinds of steps you can implement at your organization to build this funnel from a technology perspective. We have a detailed eBook that covers six best practice techniques so I’m not going to cover that here.
What I am going to cover is some core concepts around the importance of the funnel.

Let’s use another great movie example from Wayne’s World.
In the movie Wayne’s World, Wayne and Garth work on an assembly line before of course, heading off to an Alice Cooper concert. So you might be thinking to yourself, why are we talking Wayne and Garth? Let’s take the Wayne and Garth out of the picture for a second. Think about the benefits of an assembly line?

What are they?
• Assembly lines are predictable. You know what goes in and what comes out.
• They also provide great insights as management knows the exact production levels.
• Assembly lines bring a repeatable process which makes a company much more efficient.

When we think of a business’s funnel. Think of it as an assembly line. Except that instead of an assembly line of goods, the lead lifecycle is an assembly line of leads.
It’s measurable, it’s repeatable and provides massive efficiency gains.