The idea is cleverly devised and well developed, the product has been placed, the service is on the market? Now you need customers who want to pay for it. There is yet one task to solve: How do interested parties turn into real clients? In marketing terms, people speak of the so-called “sales funnel”. The image is quite graphic: You fill your target group into the funnel from above, capture the targeted persons’ interest, and win “leads” – that is, customers who come forth and are really interested. As the demands of a potential client are clear, a request for proposal will become a definite agreement and a liable order, its fulfillment is then followed by a bill. Ideally, the customer is enthusiastic, loyal – and stays with you forever.
Naturally, on the way through the funnel, the amount of interested parties declines. The important question being: How can you win the “drop-outs”? What can be done in order to change potential clients into customers? How many contacts are needed? And, anyway: How expensive can distribution be? These were among the questions our startups discussed in a workshop with Jörn Hendrik Ast last monday. How can the funnel be filled? How can we analyse, evaluate, and utilize sale funnel and sales acquisition costs? One more important step on our startups’ way to their final “jump”!
(We would also like to take this opportunity to thank Jörn Hendrik – for a wonderful workshop, for good wishes, and also for the picture coming with this article!)