If you want to see successful sales results and clearly defined processes, then effective B2B sales pipeline management should be at the top of your priority list. If you don’t already have a sales pipeline in place, it’s time to build one. But, if it’s not organized, managed and cleansed from the outset, you risk missing out on great opportunities. This is not a quick-win task — with multiple teams, numerous stages and hordes of potential buyers, it’s easy for your pipeline to get out of hand. Use these 8 tips to help your teams make a habit of keeping an up-to-date, healthy sales pipeline.
Know your audience
The only way to guarantee the best quality sales pipeline is to ensure that it is being filled with the best quality leads. Start by ensuring your marketing and sales teams are on the same page when it comes to your ideal customer, your buyer persona and the lead qualification process. This way, you’ll increase the chances of your leads converting into customers from the outset.
It might sound simple… but follow-up!
Did you know that, according to Propeller, almost half of salespeople give up after one rejection? The B2B buyer journey is complex and will often include several decision-makers and strict budgets. This means that making a sale is no easy feat, and could take a little longer. For your pipeline to run as it should, your sales representatives need to be patient and persistent.
Prioritize high-quality leads
Some leads in your pipeline will simply be more valuable than others. Whether they are more sales-ready, more suited to your business, or of higher value in terms of revenue, there will always be potential buyers that stand out. Prioritize these leads over smaller deals or prospects that are less likely to convert.
Cleanse your pipeline of loose-end leads
While being patient with leads is important, you need to know when it’s time to call it a day. In order to optimize your time, spotting dead leads and removing them from your pipeline is crucial. If they have explicitly told you that they are not interested, or have gone quiet, don’t be afraid to let go!
Define your process for everyone
Every prospect will require a personalized approach to some extent — your wider process should remain the same. Create a standardized sales pipeline to ensure your teams are clear on what is expected, and everyone is on the same page.
Execute a content marketing strategy
Content is King! And, your buyers want it to be readily-available at every stage of the pipeline. It will position you as an industry leader, help prove to prospects that you are the vendor they should work with, as well as supporting your lead generation and lead nurturing processes. Create a variety of high-quality content marketing material and execute a strategy with your key audience in mind.
Understand the sales pipeline metrics that matter
Measuring the success of your sales pipeline is key — and so is familiarizing yourself with the right metrics. Introduce a sales funnel to measure the conversion-rate between each stage of your pipeline. And, measure your sales velocity to identify where you need to make changes — whether that be to the number of opportunities, the deal size, the conversion-rate or the pipeline length.
Sales pipeline management software
Technology should be included in your strategy for a number of reasons. Whether you are looking to streamline, enhance, eliminate or support a process, there is technology to support you. Utilizing a Customer Relationship Management (CRM) system is pivotal to B2B sales success, helping to align teams, manage leads, provide analytics and more. Don’t dismiss the role automation, scheduling platforms, artificial intelligence and lead generation software all play in supercharging your pipeline, too!
Lead Forensics is a B2B lead generation software that supports businesses at every stage of the sales pipeline. The tool works by transforming your website visitors into leads — and notifying you in real-time. Utilizing a global leading database of business IP addresses, Lead Forensics identifies your website visitors and reveals their previously anonymous identity. Users are also provided with contact details of key decision-makers from that organization, as well as detailed website visitor journeys. This way, marketers and sales teams have everything they need to reach out to the right person at just the right time, with a perfectly tailored pitch. Discover a bounty of leads directly through your website and book your free demonstration today!