Managing your sales pipeline from initial contact all the way to making a sale can be fraught with many issues. As a result, you lose out on potential incoming deals. How do you effectively manage and keep track of your sales pipeline?
By implementing these 4 best sales pipeline management tips that will assist you in running your sales pipeline smoothly.
Time management is your enemy
One of the biggest issues that are detrimental to managing your sales pipeline can be the time wasted on the ins and outs of administration work. You can spend hours on administration and reporting, which means you’re missing out on being productive and working on moving sales forward in your pipeline.
The right tools or system can help to make time management much easier and simpler. Instead of spending time on admin, you can nurture leads within your sales pipeline.
Deals are not moved fast enough across stages
Salespeople always have a number of opportunities in their sales pipelines. As a result, you may not be up to the task of managing all your prospects and closing leads.
It is a job on its own to manage, nurture and organise every lead and opportunity within your pipeline. There are numerous obstacles that can fall into place such as not remembering to follow-up with a potential customer or scheduling the next meeting. Remember to always keep the sales process moving along your pipeline. Keep track of your deals to see where you could be missing out on closing deals.
Know the number of opportunities active in your sales pipeline
Often the work day can be overwhelming and you can forget how many opportunities are active in your pipeline. Losing track of the number of active opportunities means you don’t know which prospects and leads to prioritise.
Understanding which prospects are in the “ready-to-buy” phase is essential and you need to examine your sales process intricately to understand where you could be losing out on sales. This is why knowing the number of your active opportunities is critical. The truth is that you do not need to rely on your own memory but can utilise software and technology to make lead management easier.
You lose important sales-related data
You can find yourself in a situation where one of your sales representatives has left your company and taken important sales data with them. This leaves you in the lurch making sense of spreadsheet documents, trails of emails and attempting to consolidate all the necessary sales information.
Losing data can damage customer relationships and means you have to start from scratch. However, the right type of software and platforms can assist in making this a less troublesome affair. This gives you peace of mind saving time and money.
Most of your sales pipeline challenges can be overcome with software implementation that turns customer relationship management into a dream, rather than a disjointed nightmare. Following the above recommendations will assist in the management of your sales pipeline so that you close more deals and effectively maintain key customer relationships.
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