Qualified prospect: Qualification is the most critical and demanding stage of the sales funnel. In the qualification process, you verify that the prospect has a need for your product, that the prospect sees value in your offering, that there is sufficient budget for a deal, that you have access to the decision-maker, and that there is an agreed-upon timeline for the sales process. The qualification process can be complex and lengthy, and can be managed with a Sales Call Talk Track and stakeholder management chart.
Open-ended experimentation. This approach is similar to closed-ended experimentation except that more variations will be added for testing and experimentation will not stop when a winner is found. This method is used by large corporation to dynamically improve their conversion rates and improve user experience. Landing page can also be adjusted dynamically as the experiment results change to further enhance user experience.
I'm not sure how the algorithm works (or if there's one at all), but while I was filling it out, I had some anxiety about not qualifying. Once I found out I did, I was excited to fill out the form, which I'm sure most people who are in debt and using this tool are. By making this offer seem more exclusive before the form appeared on the landing page, I'd bet that Bills.com increased conversions pretty significantly.
Of course, the address itself won't be enough to estimate the value of a home. It just denotes the home's neighborhood. That's why the next page follows with more questions about the property itself, like number of beds and baths. Below, you see the copy "Tell us where to send the report" -- with a disclaimer that, by entering this information, you're agreeing to connect with a real estate agent. This is a great example of a company giving value to their visitors from the get-go, while setting visitors' expectations about what will happen as a result.
A/B testing, or A/B split testing, is a method for testing two versions of a webpage: version "A" and version "B". The goal is to test multiple versions of webpages (e.g., home page vs. product page) or one specific element that changes between variation A and variation B (such as having a lead form on the left hand side or having it placed on the right hand side), FAQ to determine which version is most appealing/effective. This testing method may also be known as A/B/n split testing; the n denoting more than 2 tests being measured and compared. The data for A/B testing is usually measured via click-through rate or an alternative conversion tracking method.
Total-experience testing, or experience testing, is a type of experiment-based testing in which the entire website experience of the visitor is examined using technical capabilities of the website platform (e.g., ATG, Blue Martini Software, etc.). Rather than creating multiple websites, total-experience testing uses the website platform to create several persistent experiences, and monitors which one is preferred by the customers.
Trulia did something very similar to Bills.com with their landing page. It starts with a simple form asking for "an address" (which sounds less creepy than "your address," although that's what they mean). Below this simple form field is a bright orange button that contrasts well with the hero image behind the form, and emphasizes that the estimate will be personalized to your home.
Muzzle, a mac app that silences on-screen notifications, fully embraces this show don't tell mentality on their otherwise minimal landing page. Visitors to the page are greeted with a rapid-fire onslaught of embarrassing notifications in the upper left of the screen. Not only is the animation hilarious, it also manages to compellingly convey the app's usefulness without lengthly descriptions.
If a sales opportunity does not move down the funnel, the sale will not happen and the opportunity should be removed, hence the “leaky” funnel. A leaky funnel is not necessarily bad; as a salesperson, you want to focus on opportunities that are likely to yield results. It is the nature of sales to have to remove an opportunity from your funnel. It does not mean that you will not sell to that account (a positive action by the customer can put them back into the funnel), but for the time being, you should centre your attention on opportunities that remain in the funnel.
Hi Terence, first off I would like to say that an interesting and thorough review. The fact that you go into so much detail about Funnel hacks, both the pro’s and the con’s really makes me believe in it and you. It sounds like something I will definitely consider as soon as I get my own product to sell (which I am still working on at the minute). And if it works then it’s worth every penny I say.