Thou Shalt Feed Thy Prospecting Funnel!
Suspects become prospects, who then become customers. And these customers then generate referrals who create more prospects and the cycle begins anew. For thousands of years, this marketing process (also known as the prospecting funnel) has governed marketing activities for all companies, and I feel safe saying that it will continue this way for another thousand years.
Comments (10)
Chuck Bartok10
Veteran Entrepreneur now Sharing
The last sentence should end with ..has had NO deleterious effects, only has made Life more enjoyable
Chuck Bartok10
Veteran Entrepreneur now Sharing
"16 hours of precious time to reach just 1000 people".
As Bruce points outs out the ROI is very good.
Of course does not usually NEED that many people if your conversion system is up to speed.
And also what is a 16 hour day to an Entrepreneur. That has been normal for me for the past 55 years (with exceptiont of the time I choose to do something else) and it has had NO
O deleterious effects except the enjoyment of life.
Bruce Bates16
Cooperative marketing
If such a thing were a limitation I could see your point. But it doesnt exactly work that way, and the profit margin is very worth the time invested. Lets be realistic about this.
Lets say I talk to 50 people in a day (which is realistic for me). Of those 50 people I find 3 people need to start a blog, so they need basic hosting. I send them a link to a good provider.All 3 signup and my monthly income goes from 0 to $15 a month in refferal commossions.
Then I find 2 others need auto responder
Thomas Bergel10
Quality Internet Sales
That is perhaps the very best form of marketing Bruce but if you were to devote only 1 minute to each person, you would spend over 16 hours of precious time to reach just 1000 people.
Bruce Bates16
Cooperative marketing
Actually because of the internet this entire process of prospect funneling can easily be reversed now.
For example I can hop on skype and get to know hundreds and hundreds of people without having anything at all to funnel them into. Instead I can get to know them as friends and in doing so figure out what they do and what they need.
After figuring out their needs i can search for businesses and products that fill those needs thus eliminating a prospect funnel completely because I am not searc
Warren Contreras14
Old Retired Guy
We are all entitled to our views, even if they are different.
Thomas Bergel10
Quality Internet Sales
Very well sir. We communicate here with the goal of delivering information that we hope will be useful and sometimes to correct a misapprehension. A statement of challenge without corollary is neither useful or correctional and is in my view unnecessary.
Warren Contreras14
Old Retired Guy
The examples are all around you, but I don't cite specifics because I don't want to alienate friends that may be involved. I can say that I currently have a program that I have no funnel set up, just a flat out bribe and it is getting paid referrals hand over fist. The leverage and duplication available because of the sheer magnitude of the Internet has had a tremendous effect on the old school sales cycle.
Thomas Bergel10
Quality Internet Sales
How unlike you Warren. No references, examples of cases or expression of your own vision. Just a naked challenge. A bit disappointing.
Warren Contreras14
Old Retired Guy
I would challenge that 1,000 year statement. The internet has shifted the entire paradigm and I have seen the funnel eliminated in many cases. It's more like a feeding frenzy.