One day earlier this month, I got up for my morning routine and went to pack my breakfast – which, since my wife became a nutrition coach and got me on a solid path, usually consists of some whole grains and fresh fruit. I’d been craving a banana and had not had one in a while. I rounded the corner to my kitchen, filled up my coffee, reached into the fruit basket and without even looking broke off a banana from the bunch. The ensuing “snap” let me know what my eyes now confirmed – it was a [very] green banana and was not going to do me any good that day. “Maybe by the end of the week,” I said. The more familiar scenario in my house is that we find there are several brown spotted bananas which we quickly convert to banana bread and all is well. But as I completed my commute to work that day it got me thinking. Do we have any “green bananas” in our pipeline?
Looking at my firm’s business after the big push to the finish in 2011 had my team wondering about the top of our sales funnel, which we had not done in a while.
After spending so much time nurturing the mature opportunities through the more time-consuming stages of qualification, proposals, contracts, and closure, we turned our eyes to the top of the funnel, and were not happy with what we saw. We had just baked a big loaf of banana bread but the basket was lower than we liked, except for a some [very] green bananas.
How many times have you found yourself dealing with the mature deals in your pipeline like those ripe bananas and wondering, “Now what?” Or, looking at a bunch of green bananas and wondering how long it would be until you could eat?
Well, it’s all about managing your produce.
- Block out time and buy some green bananas. Treat your demand generation and lead follow-up time as sacred. Book time during your week for this “appointment” of new sales activities and keep that meeting no matter what. Bring in the fresh stock!
- Spend time balancing ripeness. Get face-to-face with your clients. Never Eat Alone. Use coffee in the morning and lunch in the afternoon as ways to strike up conversations in your network to keep the produce moving through the process. It may not pay off today, but your deals will mature when you need them down the line. Personally, I’m finding more people willing to grab a quick coffee or be treated to an eat-in lunch at their office these days than taking time for dinners or playing rounds of golf like the heyday. The point is, you need to spend one-on-one time to ripen your deals.
- Rotate your stock. My firm uses salesforce.com for CRM (full disclosure, we also do consulting on the product and it is my personal favorite after using many over the years – contact me if you’s like to learn more) but whatever CRM system you use, be sure that it serves its core purpose – to allocate your precious resources across the portfolio of opportunities to maximize your business by helping your customers. To do this, you need to be sure about where you are in the buying/selling process. You need to know that you are taking the right action and applying the right resources. Use your CRM system to ensure you are not ignoring new opportunities while you’re focused exclusively on the “closing” end of the funnel. You need to spend time in each stage to get the most out of your produce.
Stick with this more balanced approach to your selling activities and you’ll create a more balanced sales funnel. You’ll have some nice green bananas, some delicious yellow ripe ones – and yes, hopefully, you’ll also be making lots of bread!
I could not resist looking through the red and white lens for this week’s post. There are a lot of analogies to be drawn here. I’ll skip the most obvious (we should all be thankful to our clients for the gift of business they give us…) and get to some of the other comparisons:
