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Customers

Ready For Business

Potential Customers

New Leads

SalesFunnel

The sales funnel is wide at the top, narrow at the bottom. Not every ‘new lead’ becomes a customer. Many will leave the funnel as they move through the various stages. The business might have made incorrect assumptions. The ‘lead’ might be put off as they learn more about the product or service. The business might also be poor at lead generation. It might advertise too widely or may have broken the law and bought a list of leads from someone else. This can damage a company’s reputation and often serves to waste everyone’s time because poor quality leads from unethical sources are unlikely to be interested in your products and services. You might also be poor at nurturing leads. If someone completes an enquiry form but you take 6 weeks to reply to them, there’s a high chance they might get fed up waiting and start looking elsewhere. This is sometimes referred to as the sales funnel ‘leaking’ or the lead ‘going cold’.