Is your corporate brand experiencing a drop in conversions? Do you believe that your numbers could be better? Now is the time to analyse the reasons for those less-than-brilliant numbers, so that your corporate brand can hold water (and clients).
Pinpoint your Corporate Brand Leaks
The sale process, especially for a B2B corporate brand, can be long and drawn-out. This makes it especially difficult to pinpoint problems (or leaks) in the sales funnel. A lengthy sales journey makes each conversion point difficult to measure and analyse, and can also make it challenging to determine just where you’re going wrong – in the choosing of leads or in the sales process itself.
It is crucial that a corporate brand understand the importance of making sure that every part of the sales process is watertight, because if just one procedure is ‘off,’ the entire practise might be for naught.
At How to Build a Brand, we have recognised a number of common sales funnel leaks. We’re passing them along to you because even if your corporate brand isn’t suffering from any of these, knowing the risk will diminish your brand’s chances of falling victim.
Here are the most common causes of leaks in a corporate brand sales funnel:
- Failure to Define the Ideal Client: A spray-and-pray, one-size-fits-all, or must-please-everyone approach rarely works for finding the people who will want to travel through your sales funnel. Instead, do the research necessary for determining WHO you want to do business with, specifically. Then tailor your branding, marketing, and sales procedures to that person. In other words, custom-build your funnel for them so they’ll be willing to take the plunge.
- Faulty Touchpoint Analysis: Are you tracking how many (and what kind) of potential clients you’re finding in each of your brand strategy touchpoints? Are some more lucrative than others? Do some of them produce only bad leads? Know where your richest mines are located, and only send that material through the funnel.
- Sweeping Language: Most corporate brands have varying sectors of potential clients. Maybe their demographics vary slightly, or they will plan on using differing products, or their plans for using each product will vary. Each of these segments deserves (and will respond well to) language that is not only branded to fit your corporate brand, but that addresses their unique needs. Each potential client should feel as if your corporate brand is speaking directly to him or her.
- Poor Follow-Through: Because B2B sales processes are lengthy, the expression of the coveted “Yes” can take days, weeks, or months. It is imperative that sales personnel keep potential clients engaged…or escort them through the funnel. This doesn’t mean that people enjoy being badgered, it simply means that in true branding form, your corporate brand should remain highly visible, abundantly accommodating, and present in a top-of-mind fashion.
- Reluctance to Tackle the Cold Lead: There will always be those potential clients who do their homework and come to your corporate brand already knowing that they’re interested in doing business. Likewise, there will always be those potential clients who need to be converted, or ushered into the funnel. When reluctance to take on reluctant or ‘cold’ clients is felt, a corporate brand’s funnel will suffer from a lack of volume.
These problems are just a broad sweep of what can go wrong when a corporate brand doesn’t look after and encourage progression through the sales funnel. We have plenty of targeted advice for plugging the leaks in your own funnel, as well as sending more ideal clients through it. Simply contact us for more advice on building your corporate brand.
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