[inaudible]
sales funnels versus growth hacking. Check this lady out.
She has just gone. That's any know what?
I don't blame her because sales funnels have become so complicated.
Although a funnel is very simple in the way it works,
we've all lost track of what it is. Before we get started,
I'd like you to hit the subscribe button down below and don't forget to hit the
bell button like this video.
Share it with those that can benefit and if you stay to the end,
I have $100 bonus for you. Let's get started.
We're talking about sales funnels versus growth hacking.
The problem with a sales funnel, well,
let's start with what is a sales funnel in its most basic essence,
a sales funnel is a sales process.
That's is exactly what it is,
but a sales process in itself is not enough,
and I call this the ping pong effect. What is the ping pong effect?
It's when the sales team steps back and says, Hey,
this systems and the leadership and the processes within the organization don't
serve sales. And it happens the other way,
way wrong the other way around as well.
When people look at revenue driven by sales,
they're taking look at the sales side saying, Hey, why aren't you driving sales?
Because we've got the processes, the systems, and the strategies in place.
So often what happens is a disconnect between the two.
And that disconnect creates what I call the ping pong effect,
where the sales funnel is disconnected for the remaining of the organization.
Where does a sales funnel fail?
It essentially fails in two categories.
One is when it's standalone and two, when it's not integrated.
What I mean by standalone is,
as I mentioned in the first example about the ping pong,
that's one of the best examples. Um,
other examples when it stand alone is when say for example,
sales and marketing don't align or where sales is in another world,
marketing is another world.
And all the other disciplines in the organizations are disconnected,
which drives to the second factor why most sales funnels actually fail.
Is that not integrated? Now,
integration is not necessarily a technical or tools or technology,
although that's a large part of it,
but also connected within the strategy itself. Um,
you've heard terms like we are a sales oriented organization.
We are an engineering oriented organization.
This is predominantly the prevailing characteristics of a culture that an
organization would use to communicate and work its processes.
Now I'm not here to debate what is a better organization,
a sales oriented or a engineering oriented organization.
The point though is that you need to be able to integrate because as an
organization you need several disciplines and components to work in order to
grow.
So what I'm going to do is I have a different perspective on sales funnels.
I do not choose or tell you one sales funnel is better than the other.
What I do though is I focus on the anatomy of a sales funnel.
That anatomy allows me to demonstrate to you the spectrum of how you'd be
looking at a sales funnel. And how you choose to design that,
whether it be a generic one you take off the shelf one that you designed for
yourself or once someone puts into place or a hybrid that's actually irrelevant.
But what I'm going to do is break down the anatomy for you.
So I'm going to whip onto the screen over here. The generic growth system.
This is a partial growth system, not a full growth system.
We've talked about this in other videos and I will touch on it again,
the essence of the mechanics of a sales funnel are four things.
Number one is an entry point that maximizes exposure at the top.
Second is a nurturing mechanism that leads to qualifying that large exposure we
have at the top and then conversion of interest into revenue.
It's now taking that exposure,
pushing the mechanics to qualify and then taking the qualify and converting that
into revenue.
And then finally at the bottom is the part where more sales funders don't do
well.
And that's where a whole growth system comes into play is how do you drive more
sales and revenue from the existing customers you have.
So let's now switch over to how do you link a growth system with a sales funnel?
Okay. The problem with a sales funnel, as you've noticed,
it comes to a single point. It's not cyclical in nature,
so it's not a full throttle, a scale. It's not a full throttle,
scalable automobile growth system because it comes to an end.
A growth system in order to scale and sustain has to have a cyclical nature and
process and how it works needs to be systematic,
automobile scalable and have a long period of time in which it works.
So when creating a full throttle growth system,
I'm going to throw this up onto the screen is what we call the growth cycle.
If you head over to my book,
we talk about this in more detail in a blueprint format on how to take your
organization from where it is to exponential growth to make that work.
We've got a growth cycle with three elements. Number one is the growth problem.
Number two is the growth experiment. Number three is the,
the extension of the growth extension,
which is taking what you've done already and take it to the next level.
Connecting these two creates a full throttle growth system and a growth system
is, as I mentioned,
is the cyclical capability that an organization is able to perpetuate its
ability to grow and lead to exponential growth.
Let me throw this up onto the screen so you can see this if I've already put it
on the screen, we're already talking to us, which is brilliant.
Those who are tuning in via podcasts,
these resources will be made available to you through other forms and means I do
my best to describe them. So those who are less visual and more about listening.
Here we are at the moment. So why does the system fail? Okay.
First and foremost is that people put too much theory,
the process and that creates a whole form of complexity.
This complexity leads to um, silos or standalone systems.
And then when they don't integrate,
you have a fragmented organization and then you just kind of move along with
whatever you're able to bring in and you don't have a growth system and so
doesn't work very well on the complete opposite is how do you actually make this
work?
How does a sales funnel and growth hacking come together into a growth system?
That starts with integration and automation, which we've already talked about.
The system is the combination of both your funnel and the growth cycle that
bring it all together and developing the growth hacking practices is what brings
all these together so you're able to find ways to hack your growth.
As we reached the end.
I'd like you to head to the bottom and in the comments do you have a growth
system? If not, why, and if so,
tell me more about your successes.
Use the hashtag growth hacking so we can get the remaining of the growth hacking
community involved as we reached the end.
As I promise you there's a a hundred dollars bonus. Go to the bottom,
click on the link. It will be very well labeled. There'll be instructions.
This is for a limited time, limited quantity.
I will see you in my course and it is called the level one growth Ninja training
certified program.
We will be taking a closer look at how these systems work to help you grow.
I'll see you in the next video. Thank you.