Business leaders will often talk about a ‘Sales Pipeline or Funnel.’ The sales pipeline is a process by which a sales person will identify early prospects, qualified prospects, interested prospects, proposed to prospects, and closed deals.
Manufacturing will have a ‘Delivery Funnel’ where products being sold or built for inventory will be identified in the various stages of production.
HR even has a ‘Talent Funnel’ that tracks recruiting, assessing, interviewing, hiring and on-boarding activities.
A Marketing Funnel is multi-faceted and covers many aspects of the business. It is often referred to as the ‘Crystal Ball,’ ‘Ouiji Board’ or corporate ‘Dart Board.’
Good strategic marketers will have multiple funnels that identify and communicate back into the organization. The Marketing Funnel identifies:
Marketing funnels are all about planning and forecasting to give the business some sense of direction inside the walls of the business and some sense of predictability to the outside world of customers and investors.
Marketers are the ‘Mad Scientists’ of the business world of funnels.
Robert Murray is a Vancouver, BC based Business Strategy Consultant, #1 Best Selling Author, and International Keynote Speaker. For further advice, insight and inspiration on how to unlock your inner leader, follow Robert on Twitter, LinkedIn, and Facebook.
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