UFM Foundation: The Customer Journey Revenue Funnel
The UFM Customer Journey Revenue Funnel is the foundation of the UFM philosophy. It not only guides your interactions with clients, but also speaks to the UFM core values:
- Accountability: All actions have a measurable place along the customer journey. That visibility leads to continual improvement.
- Flexibility: UFM does not prescribe which actions "work" and which "don't work" along the customer journey. You'll discover effective strategies (and discard ineffective ones) as you manage the funnel.
- Stick-Note-Simplicity: You don't need sophisticated software to operate UFM. In fact, most organizations attempt to measure and manage too many things, meaning they are effective at none of them. UFM forces a simpler approach all around - fewer steps and fewer metrics lead to improved focus and a clearer line of sight to results.
A few things to keep in mind as you begin to master the UFM approach:
- Most funnels focus on your sales process and needs. The UFM Customer Journey Revenue Funnel focuses instead on the customer's needs at each stage.
- This change is more important than you may realize. One of the major problems with sales, marketing, and account management is the "silos" of metrics aligned to one stage of the journey. Different groups inside the organization rarely share all the same incentives, leading to disconnects that your customer will see as they interact with you.
- The UFM Customer Journey Revenue Funnel focuses attention on the journey (using a more natural horizontal rather than a vertical orientation).
- Finally, the UFM approach highlights the importance of both customer acquisition and customer retention/growth. This better aligns to the realities of most organizations. You cannot focus on one or the other. The customer is the same in both cases!
It's Your Turn!
Use the PDF below to begin to absorb the logic behind the UFM Customer Journey Revenue Funnel. You can use it to describe the process to stakeholders both inside and outside your organization.