Most marketing and sales strategies operate as a funnel. The goal is to introduce your brand and product to as many people as possible in order to fill up the top of the funnel with the end result being more customers. The problem is most companies stop there. They celebrate winning new customers, and then they start all over again. Instead of a funnel, you should be using a sales loop to increase the effectiveness of your campaigns.
What Is a Sales Loop?
A sales loop is a continuous cycle of analyzing your current customers, identifying your ideal prospects, strategically targeting a selected group of individuals, collecting and analyzing responses, and feeding the results back into your customer analysis. A sales loop celebrates the victory of winning new customers, but the strategy treats it as a stop along the way. You study what worked and what didn’t, so you can not only repeat your success, but improve your results.
Sales Loops Begin with Customers
A strong sales loop will start with analyzing your customers. The goal is to gain a thorough understanding of who these people are, where they come from, and what matters to them. This will create a strong foundation for your marketing campaign.
Identify Ideal Prospects
Once you know what your best customers look like, you can filter your prospect universe through your customer profile. Out of all the possible prospective customers you want to identify which ones look most like the people who are currently buying from you.
Strategically Target the Best
While you can use blanket coverage and try to get in front of as many people as possible, it’s costly and not nearly as effective. You’ll end up using advertising dollars on people who have no interest in what you have to offer. By strategically targeting the people most likely to buy from you, you can focus your marketing efforts on them. You can send them more marketing touches and move them through your sales cycle faster.
Collect & Analyze Responses
Pay attention to who says yes and who completes a transaction. Capture this data and analyze it. What’s unique about these people? How are they different from everyone else you targeted? If you are intentional about collecting and analyzing results, you gather the information you need to repeat and increase your success.
Create a Sales Loop: Feed Results Back in
Take your campaign results and feed them back into your customer analysis. This will help you refine your customer profile and know how to pinpoint even better prospects. If you keep using the same customer profile, you won’t notice when your target audience begins to shift. You’ll miss when the age range goes up or the average household income goes down, and you will start targeting less than ideal prospects. By incorporating your campaign results back into your customer analysis, you can stay on top of the shifts in your audience and create more effective marketing campaigns.
Ready to stop wasting marketing dollars? Give us a call. Our team can help you not only fill your funnel with better prospects but also turn your funnel into a sales loop. We help companies strategically grow their business.