If you’re a business owner it can be frustrating to learn that 60% of buyers reject an offer as many as 4 times before accepting it. While this can make it more challenging for your employees to close a deal, you can help them by creating a sales pipeline.
But to get this process right, it’s crucial to understand what is a sales pipeline and the various stages that make up a successful pipeline strategy. When performed correctly, this can give your business a reliable and predictable way of making more sales month after month.
Keep reading to learn more about building a successful sales pipeline.
Table of Contents
Create a Lead Generation Strategy
Your lead generation process should not be haphazard. When employees begin to prospect, it’s important they know which steps they should implement that are most likely to lead to success.
To guide your sales team’s efforts, you can create a sales pipeline template. This could outline where to find potential customers and how to make contact in a way that is likely to be welcomed by a prospect.
Qualify Your Prospects
Some customers will be more likely to purchase than others, and you don’t want your staff to waste time trying to sell to people who probably won’t buy.
Therefore, it’s important to train your employees on how to accelerate your sales pipeline so they don’t spend too much time focusing on unsuitable prospects. To learn more about acceleration techniques, you can find more info here.
Educate Your Prospect
Sales pipeline management involves ensuring your prospects fully understand your proposal. Your employees should be knowledgeable and be able to go into fine detail about your offer and how it will benefit their customers.
It’s a good idea to record these details on sales pipeline software.
Clarify the Deal Details
If a prospect is ready to sign a contract, you can use a sales pipeline template to guide your employees through the next steps they need to take. This could involve aspects such as providing the terms of business agreement and advising of any cooling-off period that may apply.
Close the Sale
The last of the sales pipeline stages is to close the deal. When everyone has read and agreed on the terms, it’s time to sign the contract. At this point, your sales staff can also advise on your aftercare service and any other products that might be of interest to their new client.
Build an Efficient Sales Pipeline for Your Business
Creating a smooth sales pipeline that enables your employees to generate more business in a shorter amount of time can positively transform your company. Providing your staff with a straightforward guide for finding and qualifying prospects can make a huge difference to their success rate. In addition, your employees should have a detailed knowledge of your products when talking to clients.
When they close a deal, they can then use your existing pipeline format to begin making their next sale.
If you’ve enjoyed this sales pipeline post, be sure to read more of our business articles before you go.
