Why does every business – even small ones – need a sales pipeline?
A sales pipeline helps you to estimate the upcoming sales you’re working towards closing. It is a process that takes people all the way from the initial contact with a prospective client through to the actual sale and any additional follow-up.
So, why are we telling you that your business, even if it’s a small one, does in fact need a sales pipeline? Stay tuned and find out!
Do all businesses – even small ones – need a sales pipeline?
The main reason you should care about developing your business’ sales pipeline is because you will make more money – simple, isn’t it? That’s a good enough reason to say you need a sales pipeline in place, don’t you think so?
Regardless of the size of the business, what you are selling or who you’re selling to: a sales pipeline is crucial for the creation of a stable and reliable sales cycle. It estimates incoming cash flow, and helps you navigate your potential clients through the sales process.
A sales pipeline is a great solution not just for salespeople, but also for small business owners and anyone who generally wants to close deals in less time.
A typical sales pipeline has opportunities, and most business uses five stage sales pipeline models.
What are the usual stages of a sales pipeline?
The first stage of the sales pipeline is the opportunity for a new business. It happens every time a prospect shows interest in buying your product/service – that normally happens when said prospect visits your website.
The second stage is the part of the process in which most businesses start to compile data and do some kind of research on their prospect. The information acquired on this stage will help guide the business towards offering a more personalized experience.
At the third stage, after your prospect first approached you and you did your homework by researching it, the ball is back in your court: this is the time most businesses get back to the lead to present the initial business proposal.
The fourth stage is the one in which many companies follow up on the proposal – normally, the best you can do is write a coherent follow up email or get back in touch on the phone, and leave the rest to faith.
The fifth and final stage is where the purchased product/service is delivered to the no-longer prospective buyer.
Without sales, a business cannot survive. A structured sales pipeline is a sure-fire way to secure more business and get customers across the line faster. So get started now by mapping out your ideal sales process!
Manage your sales pipeline with Pipefy!
Pipefy’s Sales Pipeline Template is a step-by-step process, specially developed to enhance your team’s focus and productivity. It’ll guide them through all the steps of the sale: from prospecting, to properly qualifying hot and cold opportunities all the way to effectively closing the deal.
Instead of resorting to fragile spreadsheets or complex and expensive CRM systems, install Pipefy’s free sales template and run your sales pipeline smoothly and without any concerns.