A sales leakage in the marketing funnel is a problem for any company. The worst thing about it is that leads are lost because of this hole, which can be plugged or repaired.

For the sales leakage to be found, marketing and sales need to work together. They should both know when there could potentially be a leak.

Potential red flags are monitored in five areas.

  • Leads are hard to convert into deals.
  • The rate of deals that are closed is low;
  • You need to hire more salespeople because your current ones are not meeting quota.
  • There are a lot of opportunities that haven’t been realized.
  • There are a lot of good leads that have not been followed up on.

It is hard to identify where a leak in the sales funnel occurs and its cause. But, when it takes longer for an issue to be found, then there will likely be more money that needs to be spent on fixing said problem.

When you’re trying to fix multiple stages of your funnel, it can be difficult because there are so many different places the sales leakage could come from. Here is a list with six ways that will make sure each stage works well:

1. Make a detailed Storyboard from lead to close

Before you begin, take a minute to write out all the steps from when someone fills out your lead form until they close.

One big mistake businesses make is not making it easy for prospects to engage with them. They may have rigid internal processes that are hard for the customer to navigate.

2. Lead response time

According to InsideSales.com, the vendor that responds first has a 35-50% chance of winning the deal.

The first thing to look at is the time it takes for your company to respond after a lead hits their inbox. If this response time is healthy, then review how long it took from when they created the form and submitted until you were able to get them into your CRM system.

3. Track Hits and Attempts until the first convert.

One of the most important parts of customer service is responding to your customers right away, but you also need to keep in touch with them.

There seem to be a range of 6-13 touches before the prospect will convert. Test out various sequences for yourself and see what works best.

Most people will touch you seven to nine times before they make a final decision. They’ll mix up their communication by calling and emailing, with the goal of gathering enough evidence that it’s worth your time.

4. Identify why your prospects are disqualified

As you start to dive into your process and learn who is not interested in what you’re offering, make sure they fit the Ideal Customer Profile. If they do but are still uninterested, figure out why.

To find out if your messaging is not resonating with the target audience, it could be price or market immaturity. You can also make sure that you are presenting your solution in a way that sounds genuine.

5. Keep track of how effective the handoff between BDR and AE is.

Make sure your team is properly trained on how to transfer ownership of a prospect from one person to the next. Make sure they know when and where in the pipeline it will happen, as well what information should be givenreceived by both parties.

Document the steps that each team member takes to help make sure prospects are progressing smoothly through the sales funnel.

6. Keep track of how effective each stage of the opportunity is.

The team needs to be able to see how long each opportunity remains in a sales stage and why they stay there. The reason for this is so that the team can understand what events need to happen next and know when it’s time for another event.

You can figure out why deals stall by setting clear goals for each stage of the process. You will then be able to track conversions from one stage to the next and optimize them.

After each lost deal, talk to the AE and use that information to learn how you can improve your sales.

Bottom Line

Finding sales leakage in your marketing funnel will be challenging, but it’s worth the time commitment. Break up large projects into smaller ones that can clearly show progress.

When trying to decide what changes need to be made, it’s important that you keep the customer at the center. You can do this by using data on how they’re interacting with your product service and applying those learnings toward improving their experience.

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Go through a variety of filters to zero in on the leads you want to reach. This is crazy specific, but you could find all the people that match the following: 

  • A company in the Financial Services or Banking industry
  • Who have more than 10 employees
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  • With the role of HR Manager
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Editors Note:

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Justin McGill
About Author: Justin McGill
Justin McGill is the Founder of LeadFuze - a lead generation platform that discovers new leads for you automatically. Get 25 leads free.