Is your sales pipeline keeps flooded with potential leads but the conversion rate is still less? It means your sales process or sales pipeline is not being handled well. Your sales pipeline management is not good. Here’s a quick guide to grab the leash over the sales funnel and bring it under control.
1. Focus on Open Sales Opportunities
Buyer’s current status in the Buyer’s journey will tell you what to pitch to the prospect. If you aren’t able to recognize that, you will miss the golden opportunity(s). Priority should be to see the ‘Ready to Buy’ prospects in the sales funnel. Approach them first before they shift to another seller. Don’t treat every prospect equally. They are not at the same stage. After dealing with the priority, focus on bringing up the potential ones up to the ‘Ready to Buy’ stage.
2. Don’t Rush
The most common error sales representatives do. You as a sales rep got to feed the potential lead organically. Let it build on your proposal. The basic rule of sales funnel management is that your approach should be based on the sales funnel stage of your prospect. Don’t sound like a pushy salesman. Go smoothly with the prospects. A little secret: Learn the art of manipulation!
3. Always Follow-up
Do you still leave a client meeting without scheduling the next meeting? Don’t ever do that again! It’s not good practice to leave loose ends in the sales process.
4. Data Mishandling
This usually happens when the current sales rep leaves the company and the new one hired has valuable prospects in the sales pipeline and he loses them because he has no idea which stage the current prospect is in. He doesn’t know what happened in the recent conversation with the prospect. The data available is valuable, but without someone initiated handling that data, it is nothing.
5. Automate Process that don’t need Personalization
Meeting alerts, notifications, and the next to-do steps should be automated in the sales funnel so you can focus on the tasks that need personalization such as content developing, email templates, and plan of action, etc.
6. Keep the team updated
Prospects hate being called time and again for the same offer by the same company. And, this usually happens when the sales rep doesn’t update the team about the latest sales funnel stage they are with the prospects. Also, multiple approaches click the signs of unprofessional-ism. Whatever the update keep your team informed about it.
7. Cut out the Middleman
Have you analyzed your Sales Cycles? Do you know how many sales funnel stages are in that? How much time does it take to lock the deal? Delete the gaps, unnecessary stages that make the Sales Cycle longer and a hassle for the prospects.
8. The Why and How The Results
Are you tracking the prospects in the Sales Cycles? That’s good!. But are you also tracking that how you converted the prospect into a potential customer? Keep the winning strategy always in the pocket so you can take it out whenever required. Also, if the conversion is not successful, what was the reason of that? Why the prospect left? Where sales team lacked? These practices won’t let you repeat the mistakes in sales pipeline.
Facing any challenge regarding the sales pipeline management? Don’t hesitate to contact us.