In the world of sales...
The sales funnel reigns supreme. The sales funnel is a tool used by all kinds of businesses to visualize the path potential customers take on their way to becoming an actual customer. I’ve used it throughout my career to better understand the needs of my sales organization, our conversion metrics, and the steps we need to take to acquire more customers. That being said, change can be met with pushback. The real challenge with changing your strategy, or even trying new things with the old, is realizing who the real competition is. It’s YOU.
Don't you want to know how much business you could be doing? I sure do.
At EverQuote, I’ve worked hard as a part of a talented team to develop a strong sales funnel. Our process allows us to connect with thousands of agents across the country to bring them a powerful tool that strengthens their business, every day. I’m proud to have contributed to the rocket ship growth EverQuote has experienced leading to a recent ranking by Inc. Magazine as the 63rd fastest growing private company in the United States. That’s over $50 million dollars in revenue.
So... What does my sales funnel have to do with you?
If you are like the agents I speak to every day, you get a lot of calls from people like me. Why not borrow some of the successful tactics out there to grow your sales, reduce your costs, and hit big milestones for your business?
Selling is not always about big wins with highs. Like you, EverQuote has struggled in the past with "top of the funnel" challenges. We fully understand what it’s like to cold call lists of unqualified, unreachable, and unwilling prospects to meet our high lead demands. Realizing there was a better way, EverQuote developed strategic partnerships with companies that were selected specifically to complement our business needs.
As a sales-driven organization, we identified the dire need to qualify top of the funnel opportunities. Our partnerships have allowed us to connect with qualified agents that have the budget, authority to buy, and need for our solution. The best part? Those leads are ready to make a change in insurance coverage now. This connection- qualified buyers, ready to buy combined with our solution allows EverQuote to vastly outperform our baseline performance estimates. We have improved our cost per acquisition, conversion metrics for each stage in our funnel, time to contact, and even our ability to retain agents. EverQuote does this by leveraging our partnerships, and doing what we do best; helping agencies grow every day.
It is critical that your business form partnerships that keep you focused on what you do best; writing policies. Otherwise, you will continue to struggle with the top of funnel challenges presented by traditional prospecting efforts.
Though it’s tempting to stay in a comfort zone, if you’re only running general ads, cold calling lists, and half-ass SEO/SEM efforts to unqualified buyers, you just won’t reach your full potential.
Many years ago, a sales leader told me: “You need to qualify, qualify, qualify at the top of your sales funnel and hopefully one day your sales funnel will turn into a sales cylinder because all you will be talking to is a buyer.” In pursuit of attaining the sales cylinder (hopefully someday we get there), my sales funnel has become much less restricted! Now more than ever, my team feels empowered to close more sales and grow this business.
That wraps our discussion on re-thinking the sales funnel. As always, if you would like to learn more about the topic - contact the author.
If you want to learn more about adding quality clients to your funnel, check out