Improving your sales pipeline to get more new business
MANAGING YOUR SALES PIPELINE EFFECTIVELY IS A SURE-FIRE WAY TO ENSURE SUCCESS FOR YOUR BUSINESS, HOWEVER AROUND 63% OF BUSINESSES SAY THAT THEIR COMPANIES DO A BAD JOB OF MANAGING THEIR SALES PIPELINES.
A strong sales pipeline won’t build itself overnight, but if it’s well managed it will be worth your time and energy.
When developing your sales pipeline, it is essential that you have a definitive sales process. A few basic steps to follow when implementing a pipeline are:
Clearly outline the stages your sales process will follow
Determine how many new sales you need to reach your target, and use your average conversion rate to work out how many new leads you need
Analyse what all of the converting leads have in common – how were they generated and converted which includes the activities of your marketing team, the actions your sales reps take and the feedback from your prospects.
The average length from lead to close is 102 days – broken down into the average time from lead to opportunity being 84 days and then 18 days from opportunity to close. Naturally this will vary from business to business, but demonstrates the need to continuously manage and feed your sales pipeline in order to make the most out of it.
SO, WHO IS MANAGING YOUR SALES PIPELINE AND HOW ARE YOU DOING THIS?
This may be down to a dedicated Business Development Manager or it may be a whole sales team focused on selling, building relationships and developing pipelines. It’s a big task and needs experienced individuals to be carried out as successfully as possible. Outsourcing the initial B2B lead generation to an experienced telemarketing company can save your team valuable time, and allows them to focus their energy on managing the pipeline and closing sales, instead of creating the pipeline and potentially lacking the resources to follow this up.
We find that creating a multi-touchpoint experience for prospects improves pipeline management and ultimately conversion. Yes of course we are advocates of lead generation via telephone, but our expertise stretches across the whole sales cycle taking prospects on a journey - nurturing a prospect who isn’t fully qualified or sales ready, re-pitching them until they are a hot lead for your sales team to meet and close.
Even if you already have an in-house system for your lead generation or appointment setting, adding to this output will only bring you benefits. Get in touch today on 0161 504 0608 to find out how we can integrate with your current marketing strategy to maximise your ROI and bring you new clients.