Revenue Funnel Mapping (Bowtie Model)
Do you have a clear understanding of the volume, time in stage, and conversion metrics for each of your products or services? Do you know how your marketing channels and sales processes perform?
If you answered no to either of those questions, building a revenue funnel (bowtie) can help you understand how quickly and how many of your leads become customers, where you’re wasting time and spend, and how learn how to improve your marketing, selling, and fulfillment efforts.
Mapping your revenue funnel and reviewing it’s performance monthly/quarterly helps you grow with precision!
Revenue Funnel (Bowtie) Mapping
Overview
Revenue funnel mapping comes from Revenue Architecture by Jacco Van Der Kooij and was developed as a model to bring a wholistic approach to SaaS businesses – but here’s the thing, it works for any type of business. Having a map of your marketing, sales, fulfillment, and upselling process is foundational to building a systems-based business that moves leads to customers quickly & efficiently!
A Map for Each Distinct Line of Business / Service / Product
Marketing efforts vary drastically across lines of business, services, and high or low value products. It is important to know the volume of leads you are driving in, the time it takes for the lead to move through stages (marketing qualified, sales qualified, opportunity, closed won, and fulfillment), and the conversion rate at each stage transition. This lays the foundation for you to understand your customer journey and the levers that can be pulled for change.
Custom to Your Business
Your business, marketing, and sales processes are unique – and revenue funnel mapping is designed to showcase how they work together. The bowtie model can be applied to any business – we start with conversations that capture all that you are doing on the customer journey, build the framework, then measure performance systematically.
A Customized Bowtie Map
What You Get from the Process
crftsmn will guide the process of mapping your business through a series of conversations with you and your team. This process will look at your marketing channels and process, sales team and systems, customer lifecycle definitions, and you metrics for the last four quarters. We will assemble:
- A Bowtie Funnel that Shows Your Marketing and Selling Efforts
- A Sheet Revealing Your Volume, Conversion, and Time Metrics
- A Prioritized List of Lifecycle Specific Actions to Take to Improve Lead Flow
Deliverable 1: Bowtie Funnel – Marketing & Sales Efforts
For a distinct line of business or service, we will capture and document the marketing and selling efforts for each stage of the customer lifecycle. This map will bring clarity to how you are marketing, how this integrations and supports sales, and how leads become customers and move through fulfillment.
Deliverable 2: Spreadsheet of Volume, Conversion, & Time Metrics
For a distinct line of business or service, we will use historic data and process to derive the volume of leads to customers, conversion rates, and time metrics for your customer journey where possible. This will result in clear lifecycle stage definitions, and a spreadsheet of the past four quarters of volume, conversion, and time metrics for your benchmarking.
Deliverable 3: Prioritized List of Improvement Actions
After the bowtie funnel and metrics are produced, we will work with you through contextual conversation to develop a prioritized list of improvements for each stage of the bowtie. This will provide a roadmap of actions to take that will result in incremental improvement to your marketing, selling, and fulfillment processes.
Our Approach to Revenue Funnel mapping
01 – Meet with Your Team
crftsmn will meet with your team to develop an understanding of your marketing, selling, and fulfillment processes & build a map.
02 – Crunch Data
We will receive your historic data from your customer lifecycle, building a historic snapshot of your business’s volume, conversion, and time metrics.
03 – Strategize and Improve
With these in hand we will have another contextual conversation around this information, what it means, and develop a roadmap forward!
Frequently Asked Questions
Yes – if your expectation is to build a system-driven business, this gives you a bowtie framework that will be the model for your go-to-market. You’ll come away with a clearer understanding of what is working for your business, what isn’t, and how to improve it.
Mapping your business’s revenue model will allow you to see where your business is performing and where it isn’t. If you’re constantly saying we need more leads, but don’t know how your sales process is converting this is for you. If you say our leads aren’t quality, this is for you. If you what you can do to make your customers convert faster or buy more, this is for you.
It’s foundational to marketing as it explains your entire go-to-market to fulfillment process. It supports other work crftsmn can do with you (paid ads, review management, etc), or function as a stand alone.
Yes. It can work with any business whether you are selling an ownership-based, subscription, or consumption-based product or service.