Day: May 13, 2021

7 Ways To Optimize Your Sales Funnel To Max Out Conversions



Most businesses selling a product or service will be familiar with a sales funnel. You cast a wide net out to your target demographic and slowly squeeze potential customers down the funnel until you reach the end goal — that all-important sale. 

A sales funnel can be effective at converting potential customers into paying ones. However, not all sales funnels are created equal. Your sales funnel should be personalized to you and your business. It gives you an idea of what you need to do to gain the trust and custom of your target audience.

 

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So how can you optimize this process? We’re going to look at seven ways to max out conversions via your sales funnel and why this is important to your business strategy. 

 

What is a sales funnel?

The term sales funnel is used to describe the customer journey. The funnel starts from a customer’s initial awareness of a product and carries on through to their purchase. This way of analyzing the customer journey gives businesses greater insight into what makes a customer interested in a product and how they can be encouraged to make a sale. 

Here are the four main stages of a sales funnel:

  • Awareness. Whether through organic social media, marketing or word of mouth, this is the part where the customer first becomes aware of your product. They learn (Read more...)

Alba Orbital’s mission to image the Earth every 15 minutes brings in $3.4M seed round



Orbital imagery is in demand, and if you think having daily images of everywhere on Earth is going to be enough in a few years, you need a lesson in ambition. Alba Orbital is here to provide it with its intention to provide Earth observation at intervals of 15 minutes rather than hours or days — and it just raised $3.4M to get its next set of satellites into orbit.

Alba attracted our attention at Y Combinator’s latest demo day; I was impressed with the startup’s accomplishment of already having 6 satellites in orbit, which is more than most companies with space ambition ever get. But it’s only the start for the company, which will need hundreds more to begin to offer its planned high-frequency imagery.

The Scottish company has spent the last few years in prep and R&D, pursuing the goal, which some must have thought laughable, of creating a solar-powered Earth observation satellite that weighs in at less than one kilogram. The joke’s on the skeptics, however — Alba has launched a proof of concept and is ready to send the real thing up as well.

Little more than a flying camera with the minimum of storage, communication, power, and movement, the sub-kilogram Unicorn-2 is about the size of a soda can, with paperback-size solar panel wings, and costs in the neighborhood of $10,000. It should be able to capture up to 10 meter resolution, good enough to see things like buildings, ships, crops, even planes.

Play Your Own Game



Michael Jordan said he had to reconstruct his body when he went from basketball to baseball back to basketball. Baseball favored strong arms and chest; basketball required a leaner figure with a stronger core and legs. Part of the reason Jordan’s basketball return was rusty was because he was still lugging around his baseball arms. “Looking back, I didn’t have enough time to get back to a basketball body,” he said.

Which makes sense. Different sports have different objectives requiring different skills. No one criticizes marathon runners for doing things completely differently from powerlifters, despite both being athletes. ESPN covers sports, yet no anchor pretends golf and mixed martial arts are remotely similar.

But when people use the common label “investors,” that same logic breaks down.

Someone recently asked how my investment views have changed in the last decade. I said I’m less judgemental about how other people invest than I used to be.

It’s so easy to lump everyone into a category called “investors” and view them as playing on the same field called “markets.”

But people play wildly different games.

If you view investing as a single game, then you think every deviation from that game’s rules, strategies, or skills is wrong. But most of the time you’re just a marathon runner yelling at a powerlifter. So much of what we consider investing debates and disagreements are actually just people playing different games unintentionally talking over each other.

A big problem in investing is that we treat it (Read more...)

The Founder’s Story of The Path To Us Investing in Gig Wage


This post is by Valet from Feld Thoughts


In February, we announced our investment in Gig Wage. After some entertaining back and forth, I encouraged Craig Lewis, the founder/CEO of Gig Wage, to write up a quick story of how things unfolded, as he remembered them, and I’d post it here. I love founder stories, and origin stories, and always learn something from reflecting on them. So, in Craig’s words …

Two tech guys from Dallas walk into a bar…

(Note from Brad: that’s my dad Stan on the far left – he and I go everywhere together when I’m in Dallas.)

Before I met Brad in person, I had known about him because he’s pretty much startup-famous from his books and from co-founding Techstars, but I didn’t know much about Foundry Group. I hadn’t even read any of his books at the time, but I knew I was interested in meeting him.

Brad and I first met at an event two years ago at UTD (University of Texas at Dallas), where he would be speaking. We met at the bar, I had my favorite go-to drink, the “Black American” (my concoction, inspired by a White Russian), and Brad was having water since he doesn’t drink. 

My first impression of Brad was that he’s freaking brilliant. You can tell when someone’s done a lot and is smart from their experience. I figured, ‘this guy’s seen it all from A to Z and has probably seen it from Z to A and then back again.’ And he could (Read more...)

Vice President of Investor Relations (Product Strategy for FOF) – SVB Capital



SVB Capital seeks a Vice President, Product Strategy, and Capital Formation for its venture capital funds management, direct and credit platform with $6.4B assets under management. SVB Capital is a subsidiary of SVB Capital. This role reports to the Managing Director of Product Strategy on the Investor Relations team.

SVB Capital’s investor relations team acts as an extension of our Limited Partners team, helping them access the global innovation economy. The investor relations team is responsible for fundraising, marketing content, due diligence materials, hosting events, and Limited Partner engagement. The product strategy team is responsible for preparing new product launches, organizing fundraising data rooms, preparing due diligence, develop engaging fundraising events/webinars, and executing the fundraise in the most effective manner. The role requires collaboration across the broad Investor Relations team and organization. A successful candidate has project management experience, highly organized, fundraising experience, and proven ability to achieve a strategic vision through detailed execution.

Qualifications

  • Master’s degree, e.g., MBA, or professional degrees, CFA, preferred.
  • Bachelor’s degree required. Finance, communication, and business majors preferred
  • 5-10 years of relevant work experience at an investment bank, venture capital firm, a private equity firm, fundraising organization, or similar organization
  • Exceptional planning ability and organization skills
  • Knowledge of venture capital / private equity industry fundamentals
  • Ability to process and use industry data
  • Strong interpersonal skills and the ability to multi-task
  • Self-motivated with the capability to work independently
  • Highly collaborative team player

 

To apply for this role, please reach out to kperlitz@svb.com.

The post (Read more...)

5 Ways To Set Up Your Fast-Growing Sales Team For Success



This article is part of the Crunchbase Community Contributor Series. The author is an expert in their field and a Crunchbase user. We are honored to feature and promote their contribution on the Crunchbase blog.

Please note that the author is not employed by Crunchbase and the opinions expressed in this article do not necessarily reflect official views or opinions of Crunchbase, Inc. 


Sales has been, and always will be, the linchpin for many technology companies. Outside of the obvious revenue growth, they also drive companywide culture and are on the front lines of talking to customers every day, which then informs product roadmap, new markets and marketing strategies. Simply put, getting sales right is the difference between success and failure. 

And the root cause for a lot of good or bad comes down to how skilled your team is. If you don’t have a properly trained sales team, hitting revenue targets as you grow will be difficult if not impossible. Missed targets created rifts in culture and then the snowball effect is well on its way. 

Here are five ways to ensure your sales team is ready and skilled to grow as you scale your fast-growing startup.   

 

1. Get your culture right and focus on appreciation vs. recognition. 

The average sales turnover rate is 35 percent, which is nearly triple the average turnover rate across all industries (13 percent). So why are sales professionals more likely to leave their jobs compared to other occupations? Appreciation — or lack (Read more...)

Thinking about the new iPad


This post is by Om Malik from On my Om


The last time I bought a new iPad Pro was at the end of 2018, and I have been patiently waiting to order the new model with the M1 chip. Despite waking up very early on the April 30th morning to buy one from Apple’s website, I will still have to wait a few months to actually hold my new device. It looks like delivery is going to be sometime in late June 2021 or early July 2021. Whether it be for work or entertainment, I almost always prefer to use an iPad, so the wait is going to feel agonizingly long.

By the way, while shopping around, I noticed something a bit surprising about my new purchase. It turns out that the fully loaded 12.9-inch iPad Pro is currently the most expensive M1 portable computer you can buy. You pay more for the fully specked out 12.9-inch screen iPad Pro than you do for the 13-inch MacBook Pro. Both have the 8-core M1 chip with 16 GB memory and 2 TB of storage, but with the iPad you get a 5G modem and an XDR display. And a much better camera for Zoom calls.

The MacBook Pro is $2,299. Meanwhile, the iPad Pro is going to cost you $2,399 — and that’s before you shell out about $450 for a keyboard and a pencil.

If you include those additional (and necessary, I would argue) items, then the iPad Pro’s final price tag — $2,877 — is higher than any (Read more...)

Mark’s views on the Republican party become more mainstream



This is Joseph.

Mark and I have discussed Donald Trump a lot. One thing that Mark always liked to point out was that Trump's power was his willingness to destroy the party. I was pleased to see that other commentators are starting to see the same issue. Here is Matthew Yglesias in his Slow Boring blog:

The key to understanding GOP leaders’ view of the situation is that Trump has convinced them of the following:

  • While he is not a popular or particularly effective face for the party, he’s not so unpopular as to put winning out of reach.
  • He is sufficiently deferential to conservative policy goals so that a Trump presidency is highly preferable to a Biden presidency.
  • He is sufficiently non-deferential to conservative policy goals so that if he gets angry at the GOP, he will commit his energies to destroying the party.

All pandemic, I’ve been looking forward to the release of the “Dune” movie. Near the end of the book, Paul Atreides scores some tactical military victories but could still easily enough be defeated by his rivals. But he’s able to convince them that he’s crazy enough that he really might destroy a natural resource that the whole universe depends on.

“The power to destroy a thing is the absolute control over it,” he says.

 This is very much Mark's grenade tossing analogy of 2017. Needless to say, it is going to be a complicated and challenging process to reform the GOP away (Read more...)