Sales pipeline is probably the most important thing for a sales person(Why B2B Salespeople Need Personas & How to Develop It And Find Dream Buyers).
It is a organized, visual snapshot of where your prospects are in the sales process. Proper management of sales pipeline is crucial for business success. It allows you to find your deal's stage in the sales funnel, control sales activities to accelerate deals closing, predict income and stay on top of your game.
A full-structured sales pipeline has several key stages:
Sales Prospecting:
Prospects are potential customers. Sales prospecting is looking for prospects who are suitable for your products or services, and who have the most possibility to become your paying customer.
Lead Qualification:
You should not waste your time on people who are not qualified. That is to say, you should find out who matches your ideal customer profile by offering a white paper, webinar or another type of lead generation to identify if the prospect is interested in, and then reach out to them only.
Relationship Building:
Have good communication and build strong relationships with your prospects. Pay attention to what they really need.
Proposal:
Sent your proposal to the prospect, including summarizing your company's advantages and how your company can help to solve their business problems.
Closing:
At this stage, you are supposed to make a decision after negotiating terms and more toward order fulfillment.
With the various stages of the sales pipeline, top sales reps can always find effective ways to manage their pipeline, and increase the purchase conversion rate.
Today, we are going to summarize the 5 most effective tips to help you improve your sales pipeline and close more deals.
Here are the tips that will help:
1. Update Regularly
Remember your sales pipeline is constantly changing, so it's essential to keep your sales pipeline up-to-date. This means when leads were created, you should keep track of it, and make leads move through from one stage to the next. This information helps you know clearly how many deals are currently in the pipeline and which ones are the strongest. It also lets you know what stage each deal is in, so you can focus on pushing them into the next stage.
2. Remember to Follow Up
Don’t forget about your leads! After reaching out, email them again 2-3 weeks later, then again 2-3 weeks after that. This will help remind them of your existence – plus it probably gives them an opportunity to tell you they aren’t ready yet again (and possibly give you some insight into why).
3. Drop Dead Leads
Don't let dead leads clutter up your sales pipeline. If a lead doesn't respond within a certain amount of time (e.g. 30 days), consider dropping them from your account management system and adding them back when they take further action with your company (e.g., converting them into an opportunity or engaging with a salesperson). This ensures that only active prospects remain in your account management system, allowing you to focus on closing more deals faster instead of spending time trying to convince dead leads to buying something from you!
4. Keep Your Sales Cycle Short
The shorter your sales cycle, the faster you'll be able to close deals. This will help you save more time on each deal and increase your sales productivity. The most effective way of keeping your sales cycle short is connecting with your targeted customers' buyer committee directly. So reaching out to the decision maker means less chance that someone else will steal your customers away!
5. Monitor Pipeline Metrics
Metrics help you figure out how many leads are converted into opportunities, how many opportunities become closed deals, and how long each deal takes from start to finish. This information can be used to improve your sales process so that more customers get through each stage smoother and help you close more deals faster.
Manage Your Sales Pipeline with AroundDeal
Sales Prospecting
With AroundDeal Prospector, you no longer need to spend numerous hours prospecting across multiple social platforms and email marketing. It's easy to look for your targeted contacts and build an ideal customers list in seconds within our over 100 million and coverage in 249 countries database.
Our accuracy of the contacts can reach up to 95%, with these laser precision prospects to make sure you reach exactly who you want and convert them into a loyal buyer.
Enrich and Verify Your Leads:
AroundDeal has Bulks and Enrichment, two powerful features that can bulk cleanse, verify and enrich your records with 50+ fields in the AroundDeal Database. Drop dead leads off your database, and maintain your leads reliable, accurate, and up-to-date.
With the complete and correct data in your sales pipeline, you can keep focusing on engaging with your targeted clients and closing your deals faster and faster. You don't need to worry about wasting your time on dead or out-of-time leads anymore.
AroundDeal has a 7-day free trial. Now you can try these powerful features to grow your sales pipelines and improve each step of your sales processes. Start your new year fresh and with the best sales pipeline tool!
