The quality of your B2B sales pipeline directly impacts the outcome of your sales team’s success — so getting it right from the outset is pivotal. While we spend some
time working together apart, it’s more important than ever before for your teams to successfully align goals, processes and approaches to success. Organization, communication and transparency are key to moving your sales leads efficiently through the
pipeline — but what else can you do to guarantee wins? Without a shared office space and in the absence of face-to-face meetings, some changes and challenges are
inevitable. We’ve put together some tips that have helped our world-class sales team see impactful results.
Plan and understand your pipeline
So, what does a typical sales pipeline look like? It can be broken down into five key stages. Try to ensure your sales teams are opting for similar approaches to avoid confusion
and complication, especially while your teams are in different places.
This is about implementing effective lead generation strategies to fuel your pipeline with high-quality, engaged opportunities.
Here, your team needs to ensure that each lead is likely to convert — so ensure you have an effective qualification process in place.
At this stage, your team should be doing all they can to reassure and nurture the prospect, working to move them through the pipeline quickly.
- Closing the sale
Your lead has chosen you as the vendor they want to work with — prioritizing conversions is a necessity here, so ensure your site is optimized and your sales team is ready
Transforming one-off purchases into loyal customers through a high-quality customer retention strategy is crucial — identifying upselling and cross-selling
opportunities where possible.
Prepare for changes and challenges
Let’s face it. Even your best sales representative can’t predict the future. So, being prepared for all eventualities is vital for B2B sales pipeline success. Just a few months ago, the B2B community could never have predicted we’d be moving
to an entirely online model, with teams across the globe working remotely. So, what can we learn from the B2B sales world in the
current climate? Well, we need to ensure all necessary data is accessible where it needs to be. We need to stay on top of our pipelines — ensuring clarity and organization every step of the way. And, we need to include fast-paced, high-quality
and reliable technology in our strategies from the outset to support every stage of the pipeline, no matter where we’re working.
Make a daily habit of pipeline management
Managing your pipeline should be an ongoing and regular occurrence. The quicker it becomes a daily habit for
your sales team, the better! For busy B2B sales reps, removing dead leads, adding the necessary notes and tasks to your CRM, following-up in a timely manner and nurturing warm leads are crucial to an effective pipeline. But, continuously prospecting
to identify new opportunities for the top of the funnel, pitching to high-quality prospects and closing deals are also vital — and often come with deadlines and the potential for revenue. Sometimes, managing and organizing a pipeline falls
to the bottom of their to-do list. So, ensure the process is simple, clearly outlined and introduced as a part of the day-to-day early on. Regularly cleansing your pipeline will ensure no lead is ever lost.
Metrics for success
The only way to ensure your pipeline is effective is by measuring its success and working to improve it. There are a number of metrics
to monitor, so ensure you’re using the ones that make the most sense for your business. Let’s explore some that will help you maximize your pipeline and secure the best results.
- New opportunities and number of leads qualified
The number of opportunities at the start of your sales pipeline increases your number of potential customers — but increasing the number of those that are likely to convert makes
for an even more successful outcome.
- Return on Investment (ROI)
Measuring the ROI of your pipeline helps you establish how much revenue you’re gaining or losing — this is especially helpful when proving the value of technology.
- Sales velocity
Sales velocity enables you to see how much revenue is generated daily by your team. The higher the sales velocity, the more you’re generating!
Lead Forensics is an innovative B2B sales software that transforms your B2B website into a hub of engaged leads. It works by utilizing intelligent reverse IP tracking software and a global leading database of business IP addresses to track
your website visitors, reveal their identity and notify you in real-time. Users are provided with the business name, contact details of key decision-makers and detailed visitor journeys outlining the time spent on your site. This way, marketers and
sales reps have everything they need to reach out to the right person, with the right information at the right time. Book your Lead Forensics demonstration today!