Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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I put before you the following evidence that backs up my case for AFC to only be working with companies 100% committed to implementing our Fuel Cells.
Adam Bond said in today's RNS:
"We are carefully selecting strategic partners that have a pressing need and desire to lead in the decarbonisation of their industries in line with Net Zero aspirations.."
Not clients, strategic partners, look up the difference if you don't know what it means.
“My view remains that 'average' stays are not relevant to AFC.”
Mc Boxer your ramping view is not relevant to AFC, end of.
** average' stats "*
Nickjhe,
My view remains that 'average' stays are not relevant to AFC.
Average stats are coming from companies that have been selling for years, and are in a position to put in loads of clients just because they are clients for other products, or because they buy from competitors already.
AFC is only just starting to get into sales, it does not have massive resources to waste on leads that go nowhere, so it's qualification process will be extremely stringent, in the expectation that the vast majority of leads will become buyers.
I was referring more to the utter tripe posted by our resident bag of offal.
Cheers Oggs. I'm here all day!!!
Comedy gold
Thanks Daz, yes it's my line of work as well and thought it was worth applying some logic to the debate
Nick, what a sensible answer, far more believable than Haggis’ 1 in 1 conversion ! He needs calling out and has shown himself up big time yet again, and 3 other plums agreed with him. I’ve managed a pipeline selling leading edge tech to the o&g industry and 1 in 5 was roughly our conversion ratio.
The actual phrase was 'Current book of over 50 qualified fuel cell deployment enquiries - the majority of which represent multiple order potential.'
In my experience, these are called 'Sales Qualified Leads'.
Here's some stats from Gartner, average conversions from 'Sales Qualified Lead' to 'Opportunity' is 59%, then 'Opportunity' to 'Close' is 22%.
https://www.gartner.com/en/articles/sales-development-metrics-assessing-low-conversion-rates
So 50 SQLs = 6-7 closed opportunities.
Since that statement, UAP, Keltbray and Kier have all placed some sort of order to lease or trial a system.
It seems obvious to me that these three companies were on that enquiry list and that there are likely a few more from the 50 that may yet convert.
Plus a pipeline of SQLs will be building from subsequent enquiries.
This is just my take though, happy to hear from other people who have experience of sales and pipeline management!
So saying 1 in 3 or 1 in 4 or even 1 in 2 are all likely to be wrong in AFC's case,
Best laugh I’ve had in ages, not only that but at least 2 other con men agree with him. So AFC are going to convert 49 out of the 50 leads, brilliant !
Mucksy I bloody hope haggis becomes a AIM billionaire then i will be a multi millionaire,
Roll on some massive sales this year . We all know they are on the horizon. Good luck
I think if the sp ever got to near the £5 mark haggis could well be the first aim billionaire
Time will tell. I’m looking forward to when he gets his inheritance. He can then tell as all about the trade he’s going to make. We can at least see if he’s genuine about that. I hope he buys shed loads and becomes a millionaire. Who knows , he may already be or he may only have 500 shares. It’s a mystery.
It's the latter I'm afraid Pandy.
I can’t work out if haggis is v clever and will make a lot of money here or is deluded and has other agendas. I’m hoping the former :)
I would describe haggis' post thus and in my best Scottish vernacular, another load of pish!
For anyone that is interested in learning how the lead qualification works in general, have a read of this:
https://blog.hubspot.com/sales/ultimate-guide-to-sales-qualification
Then consider the AFC rigorous assessment and scrutiny of all potential clients before including them in their book of 'fully qualified deployment opportunities'.
What AFC consider 'fully qualified' sales leads, due to the amount of time (and therefore money) AFC have to put into each project, you can bet that AFC's 50 stated last year are all deemed by AFC 99% likely to order, once AFC have worked through the project with them on the finer details, and those companies senior management sign off the budget approvals.
So saying 1 in 3 or 1 in 4 or even 1 in 2 are all likely to be wrong in AFC's case, because so much assessment and scrutiny is done on every client, to only progress at this early stage with clients that are 100% committed to things working out successfully with AFC, where AFC can with 99% confidence (as there is always a possibility that things don't work out as expected) that these are 'fully qualified' sales leads.
Interesting DG1066 - where did you get the stat 1 in 3 close rate from qualified lead (in tech industry) for companies moving into commercialisation?
Is the system going to Kier an order or a trial ..... ?
Lovely to have a blue day, long may these continue.
1 in 3 For Tech,
Well the Keltbray trial (order is stretching it...) is for the power tower which wasn't around a year ago. I'm in financial services so my knowledge of closing leads as engineering goes from R&D to commercial is negligible (and that's exaggerating matters!!)
What's a good closing ratio from qualified lead,
in your experience, when it comes to companies entering commercialisation?