Sales Pipeline is an order amidst chaos, how do you maintain a healthy pipeline?
Do you also believe in less is more? Are you going on a spring-cleaning spree, don't forget to declutter your sales pipeline? Everyone dreams about having a business that has exponential growth, smooth scalability and high engagement that drives faster conversion - a part of the sales pipeline. To describe in detail a sales pipeline is a visual framework that shows how close your prospects are to getting converted. Sales Pipeline takes care of your sales process by improving forecasting, optimizing interactions and finding any loophole in the process. In short it is an order in chaos where you get more opportunity to control the entire sales process and close more deals. Sales pipeline brings in the air of professionalism. It saves you from Stagnant and Redundancy while helping you to predict revenue and profits.
How to create a basic sales pipeline
Segmentation is the key
The first stage of this pipeline is segmentation. Segmentation also known as segregating your leads into a group based on various parameters and insights. These parameters may range from demographic detail to psychological behaviour. Segmentation is the cornerstone of your effectiveness to streamline your sales pipeline
Freeze your leads in digital mode
Once your segmentation chart is ready digitize your leads as soon as possible. Well, nowadays CRM tools can easily help you with assortment freezing. Later on, you can always keep on adding the information the more you have the easier it is to declutter because you know what works in your favour.
Create pockets for your pipeline
A sales pipeline is established to measure the progress of lead and understand how long it will take to convert. To preserve pockets, create measure criteria that your lead will be categorized into alike qualified lead, assessing leads and converted Leads
Qualify and prioritize leads
Qualified lead goes into a next process while other leads are diluted. This shows that you don't need to devote the same amount of energy to every new lead. A good qualified lead will help you to eliminate those that have less chances to convert. Prioritize leads that are high in value.
If you are confused, have a healthy mix of leads in your pipeline to compensate later on. Some leads will take longer to sell, some will be easy to convert, resist the temptation to chase every new found lead as a silver lining, that's not a sustainable move.
Pipeline enables prediction
Prediction is the biggest aim of the sales pipeline. Accurate projection helps you to figure out which leads will turn into customers eventually and you can devote your time and resources to only those leads. With experience you can forecast your monthly revenues and profits as well. Order projection can be accurate only if you have mapped your customer’s buying process well.
Keep your pipeline organized
It is essential to gain clarity in your sales process. Having pipelines packed to the gills with dead end leads can create more confusion and chaos. But when they are organized you can focus on one you seem to feel confident about converting.
Though it is not easy to have an organized sales pipeline but it is essential, and you will see the time invested pays off in convenience clarity and cash flows.
The sales pipeline is one of the areas we at ChalkWalk see many businesses struggle with. Helping such businesses to create a clear process and provide them with the system to make it easy and impactful. A tweak in your sales pipeline from disorganized and unfocused to clear and effective process to gain steady and sustainable growth.