The root of all sales efforts is in the pipeline. Effective management of your sales pipeline will help you optimize your efforts. When your pipeline is well-organized, you can focus more on sales, which is, ultimately, at the root of all revenue.
What is sales pipeline management?
Your pipeline is how you organize your prospects, nurture your current customers, track your goals and quotas, and generally visualize the health of your sales funnel.
A well-organized sales pipeline will help you understand where each customer is in the buying journey and tell you whether there are enough deals on the go to help you reach your targets.
Top performers differentiate themselves from the rest by having a methodology for managing their pipeline. Today, we’ll share some tips from sales professionals to help you manage your pipeline and close more deals in less time:
1. Make sure you are reaching the right person
If you are focusing your efforts on an individual who doesn’t have any decision-making power in the organization, you are just wasting your time. Quality over quantity is the order of the day as it will help you reach your goals faster and optimize your time. s
2. Know your customers
It should go without saying, but if you don’t understand how your product or service can solve your customer’s pain points, then it’s going to be hard to convince them to buy. Put yourself in their shoes. Seek to understand their challenges and present them with scenarios that illustrate how your solution can help. Be the solution.
3.Time is money: yours is valuable too
If you have too many things on the go, whether it’s keeping up with correspondence, social media, SEO, or what have you, you may not be giving yourself enough time to focus on sales. A virtual office can take some of these tasks off your plate, as can the back office staff behind the virtual office. Technology can also be helpful. CRMs such as Salesforce can help you manage your contacts and your funnel with full visibility into customer lifecycles.
4. Follow up and respond quickly
These days, a moment of hesitation can cost you, big time. When your prospects respond to your efforts, you need to respond in kind. Track each deal carefully and apply your insight to help you strike while the iron is hot and nurture deals that need attention.
5. Review your pipeline regularly
Periodic reviews of your pipeline will allow you to “flush” deals that are going nowhere and revitalize those that have gone cold. Set aside time each week or each month to review each deal in detail to determine where your energy will be best spent.
At Business Workspaces in El Dorado Hills, CA, we understand how hard sales professionals work. We offer affordable, flexible professional office solutions that help you focus on what’s important. Call today to learn more or drop by for a tour.