How long is the sales cycle for a specific product? How many phases does a potential buyer go through and what characteristics do they have?
The sales pipeline is an effective tool which you can use to optimally plan and visualise your sales activities and better control the success of your campaigns.
Based on your CRM system, the sales pipeline shows the different phases that a potential buyer goes through before making a purchase. It is aligned with the individual buyer’s journey for your product and contains detailed steps that your sales reps should follow in each phase.
Your sales pipeline will help you find the answer to the following question: How many leads and deals do you need to achieve your growth targets?
With pipeline management, you gain insights into how many opportunities and ultimately leads are needed to meet your sales goals and how many of them you should turn into closed deals.
Every pipeline is unique; there is no one-size-fits-all solution. Your sales pipeline will be individually tailored to your company, product and buyer’s journey.
Pipeline management refers to the intelligent analysis and maintenance of your pipeline. Using computational analytics, the pipeline enables you to draw conclusions about the effectiveness and success of your marketing and sales activities. You can use various parameters for this purpose.
Number of possible sales that your sales reps are currently working on.
The average revenue that a closed deal generates.
The absolute value of each qualified opportunity in the pipeline.
The average time a deal is in the pipeline before it’s closed.
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