SALES PIPELINE
We specialize in strategic sales & marketing.
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SALES PIPELINE FOR YOUR BUSINESS
Managing sales? What is that? A frightening number of CEOs are so accustomed to handling sales on their own that even when they do get around to hiring a sales team, they neglect to put in place a process for building and tracking a sales pipeline. A sure sign that a sales organization is heading the wrong way is when Sales people can make optimistic statements with no hard data.
Simply put, your sales pipeline is the amount of business you attempt to close in a given month, quarter, or year. It is usually presented as a spreadsheet that tracks all of the business your sales force has pursued in the form of requests for proposal. As time passes, you can begin to track what share of sales you close. If that share is consistent, you should be able to forecast sales with greater accuracy, which will give your sales team greater confidence and help operations staff plan accurately for future demand. You will also glean information on where your sales team falls short: For example, is your conversion rate low, or are you converting plenty of customers, but only getting a small share of their total business?
If sales people are not trained and managed to establish these three critical pieces of information, they will continually be over-optimistic about their pipeline. In a worst case they will spend all their time writing proposals for unqualified leads, the whole time being certain that the deals will close any day
