There are two steps to creating an effective sales funnel that I find useful:
1) Examine all your current customer's profitability, sorted from high to low, then determine what are the characteristics of the more profitable customers. These characteristics define your target market.
2) Conduct short interviews of all your customers, but particularly the most profitable ones, asking for their input as you seek to improve. This will generate two things:
a. great market intelligence on what your customers value. focus your operations on this
b. increased repeat and referral business
Conduct these steps at least annually. If it would be helpful, we can provide a copy of the three question script we use with our clients, which is a modified version of Fred Reichheld's "Ultimate question"- What is the likelihood that you would recommend Company X to a friend or colleague?
Is this answer helpful? Schedule a free consultation with Bill.
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