Building a Sales Pipeline
Building a sales pipeline requires constant effort, and without it, your existing prospects will start to diminish. These top tips will help you build an effective pipeline.
DON’T SPEND TOO MUCH TIME ON ADMIN
It can be tempting to spend time on data and admin, but research shows that the most effective salespeople are the ones spending time talking to prospective customers. Understanding the data is important, but to sell you need to speak to people!
BE AWARE WHAT OPPORTUNITIES YOU HAVE OPEN
To build an effective pipeline, you need to know what stage of the process each prospect is at and try to move them along the pipeline.
RESEARCH WHO THE DECISION MAKERS ARE
Use all the resources at your disposal to understand who the decision makers are at each of your prospects. You don’t want to waste time talking to the wrong people.
KEEP AN EYE ON YOUR ‘LEAD TO WIN’ RATIO
It can be tempting to try to forget about the ones you don’t win. But use all the data you have to analyse why you win some and not others. You need to know who in your sales team has a good lead to win ratio and to understand what they are doing to be so effective.
MAKE SURE YOUR TEAM COMMUNICATES WITH EACH OTHER
You do not want your sales team to waste time due to miscommunication. Make sure they know what each other are doing and which prospects they are cultivating.
The more you ask questions and follow up your potential customers, the more likely you are to close a sale. Make sure you have a contact system which means you make a regular connection with prospects to start to develop a business relationship.
IF YOU HAVE A SYSTEM, USE IT CORRECTLY
Even though CRM systems are readily available, many salespeople rely on muddled lists or spreadsheets that are not updated enough. If you have invested in a CRM system, spend time on understanding how to get the most out of it.
STOP SELLING AND START GIVING VALUE
If you come across like a pushy salesperson, you are unlikely to be successful. Start talking to your clients about the value you are offering, rather than the ‘deal’.