Managing a company’s sales pipeline is a continuous work that never ends. From finding prospects and making deals to checking with customers and generating new leads, sales are a process where leaders need to make sure there is a set structure in place to both find new prospects and retain existing ones. .

Investing time and effort to improve sales process management is a great way to increase efficiency, but knowing where and how to implement the changes that will make a difference is no easy task. To help, 12 members of Newsweek’s Expert Forum share strategies on how leaders can effectively tackle a company’s sales pipeline management.

1. Conduct current process reviews

Continuous review is a critical step in maintaining an effective sales pipeline. This includes an in-depth analysis of open opportunities as well as winnings and losses. While it may not seem like the best idea to invest more time in analyzing a loss, sometimes the most valuable lessons can be learned from understanding why we were unsuccessful and adapting our approach to achieve future success. ! – Israel Tannenbaum, Withum

2. Develop a system for tracking leads

There are several steps a leader must take to manage a sales pipeline. The first thing to do is to develop a system for tracking leads. Using a spreadsheet or some sort of database can be really helpful for this. It is also important to follow leads throughout the pipeline. – Elliott Smith, Ohana Center for Addiction Treatment

3. Use a CRM tool

Use a customer relationship management (CRM) tool to effectively manage your sales pipeline. It can be easy to lose track of where customers are in the process and the next steps. A CRM tool keeps you organized and provides visibility within the organization. By creating a campaign using your CRM tool, you can consistently execute best practice processes for sales. This allows for more organized and consistent follow-ups. – Krista Neher, Digital Boot Camp

4. Develop discernment for promising prospects

Exercise professional skepticism to discern what has real potential versus what is just a possible desire. Use technology to create a dashboard that evaluates each prospect’s attributes, then apply your insight and experience to identify leads worth pursuing. – Margie Kiesel, Avaneer Health

5. Leverage the data

The more accurate and measurable data from multiple stages is in the transaction flow, the better. We measure around 20 different metrics that impact our sales output. – Doug Robinson, LGCY Power

6. Drop Dead Leads

Remember to always drop dead contacts. It’s okay to follow your favorite or potential customers for sales purposes, but you also need to know when to stop. As an entrepreneur, you need to learn how to identify dead leads quickly so you can move on to the next sales opportunity. Indeed, letting go can be difficult, but time is money and you can then redirect your efforts somewhere else. – Kira Graves, Kira Graves Consulting

7. Watch outbound sales strategies regularly

An effective way to manage a corporate sales pipeline is to regularly review outbound sales strategies. It’s easy to get outdated with the way you do cold calling and email campaigns. Even your social media strategies can look the same year after year, especially with holiday campaigns. – Baruch Labunski, safe degree

8. Personalize communications

Don’t underestimate personal approaches. For example, send a personal email instead of an explosive email. People are good at recognizing and filtering these types of emails. I have found it more successful in sending fewer emails specific to that person or company than sending a mass produced message. – Sonja Wasden, Speaking of mental health

9. Diversify your offerings

Look for opportunities to diversify your product offerings so your organization can showcase its value to customers in more than one place. This approach can deepen relationships with current customers and expand business into new markets, ultimately helping grow your sales pipeline. – Faisal Pandit, Panasonic Connect North America

10. Keep sales cycles short

We keep our sales cycles short because it gives us better information to see accurate results. A business can successfully do this biweekly without too much overhead. It is highly manageable as it does not lengthen quarterly reports. – Tammy Sons, Tn Nursery

11. Stay focused on the big picture

Celebrating success is great, but it is vital to continue fueling the pipeline with new leads. The more we know about our company’s sales cycle, target audience and more, the better we can prepare and focus our efforts. – Krisztina Veres, Veres Professional advice

12. Fill the pipeline continuously

Never stop filling your pipeline. If you don’t feel like you have to keep selling, you are wrong. Don’t be enchanted by success. Always filling the pipeline, even in the distant future, creates more stability and can flatten the sales curve slightly. – Chris Tompkins, The Go! Agency

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