The main matter of concern for any business owner or leader is income. A realistic revenue forecast from clients either gives a sense of confidence in the near future of the company, or signals of impending problems. It is important to have up-to-date information on the status of current and upcoming bargains with customers, the volume and quality of pre-sale work.
If the number of deals of your sales team counts for hundreds, then, obviously, you already use a specialized system for managing customer relations. If your small company does not have sales department yet and the number of customers is not so numerous, this does not mean that it’s worth keeping everything in mind. Sales forecasts are still necessary, and they are constantly changing. You can manage a sales funnel using the options of a simple task management system.
The Brown Boot Works service was designed as a simple task and project management tool for businessmen or heads of small companies. The system works as an additional application in Google cloud ecosystem. Opportunities for planning and accounting financial transactions are available within the service. Budgets subsystem enables managing budgets of small companies, project- and various personal budgets. This tool perfectly suites sales funnel managing, based on the data entered into projects and daily tasks.
Let’s see how a sales funnel can be managed within the Brown Boot Works service using the example of a small company Bert Interiors, dealing with supply of contract interior solutions for private customers.
Each deal with a customer for the furniture supply and assembly is considered as a small project. There are potential deals that are at the pre-sale stage. At this stage, the client’s interest in creating a specific interior solution are identified, design and model are selected, specifications are prepared, and quotations are provided to the client. This is the sales funnel inlet. Other deals are already at the stage of agreeing upon the terms of delivery and payment schedule. There are deals being contracted and partially paid for, which are at the stage of order execution. Closed up deals sometimes require sustained client support, so you need to make sure that you have a ticketing system set up.
A number of tasks is created for each project, such as design agreeing meetings, quotation preparation, contract concluding, furniture supply and assembly of the solution at the client’s, etc. Tasks contain actual information on received and planned payments from clients. The label used in the project or task allows the system to define the current funnel stage the sums from the task refer to – at the inlet, in the middle or at the outlet.
The company management at any time can create a sales funnel table and analyze the current situation: how active is the pre-sale work; which deals are at the client decision-making stage; who has to be inclined to make a bargain; what is the accurate income plan for the current quarter; what is preliminary yearly income plan. All this enables manager’s monitoring sales changes to make significant decisions on time.