When managing your sales pipeline, it’s important to understand your metrics above all. Once you know that, remember to focus on the problems and the people, not your products.
Take a step back to look at the whole ecosystem you are selling to, and know that most leads will need long-term nurturing. Here are some steps to guide you to more efficient pipeline management!
Best practices for Sales Pipeline Management:
First, you need a lead capture form which is a form that gives you the ability to obtain information from prospects that visit your website and want more information. The contact information you glean from these forms belongs to people excited enough about your product to offer their contact information.
And now you will need to determine the potential of the lead by obtaining critical information from the prospect including potential total sales dollars and volume for a particular time period. There is no doubt that a current client or a prospect has the most accurate information about how much product or service they may buy.
Next, you need to identify decision makers. In some cases, your contact may be the decision maker. But many times, purchasing decisions may be made by key executives based on price, volume, volatile market conditions or other reasons specific to their industry.
Follow-up is critical to close on any request for business. Make sure to immediately follow-up on any urgent requests, request for a quote or perhaps most importantly a first call from a potential client. During this period, be aware of other potential sales offered to a customer and learn their hot buttons.
You also need to measure results. For each prospect, track and measure your successes and failures. Accurate sales forecasting optimizes business planning as well as cash flow.
Finally, analyze your result. After you have tracked the critical information and actions on each potential sale, you have a roadmap to success. Repeat the path that has earned sales. Stay away from the actions where sales were lost. But always looks for ways to make improvements to your strategies, and put those techniques into action.
Without sales, a business can’t survive. Developing, tracking, managing and analyzing your pipeline can directly increase sales and build your business.
Give Pipeline Management a try with Pipefy!
Pipefy is an intuitive, simple to use, workflow software. We allow businesses to run all their processes in a single platform, ensuring efficiency and solid execution.
Besides all that, Pipefy offers you a variety of pre-designed process templates to help you manage your sales processes, such as Sales Pipeline and Lead Qualification. Check tem out and ensure your sales pipeline management is up to speed and optimized to boost your sales!