The sales pipeline is a very important part of business marketing. As part of your business, you will always have different people at different stages of the buying process, which is your sales pipeline. How will you market to these people? It varies depending on the person, but you can better plan your techniques when you know how many people are in your sales pipeline and who they are.
Two Sales Pipeline Categories
1. The guaranteed sales pipeline: Your guaranteed sales pipeline tracks the signed, guaranteed work you have for the month. The sale is already complete, meaning you have a deposit check, a signed contract and only have the work left to do.
2. The anticipated sales pipeline: Your anticipated sales pipeline is comprised of the people you think are about 75% of the way there on closing within the month. You don’t have a guarantee in the form of a signed agreement or a deposit check, but you are close.
Track The People in Your Sales Pipelines
You need to start tracking who is where in the sales process and use that information to figure out a business strategy.
Your sales pipelines will show you how well your business is doing and what you need. Do you have enough capacity? Do you need contractors, temporary or full-time staff or anything else?
When you look at the numbers in your sales pipelines you will be able to tell whether you need to take more aggressive action to get more people in your funnel. Do you need to do additional follow-up, networking, referral marketing, seminars or direct mail?
The Truth About Sales Pipelines
Your sales pipelines help you take a proactive stance on business decisions. If you know how much guaranteed and anticipated work you have in your sales pipelines you will be better equipped to make decisions that will help you grow. Organize your sales pipelines and stay ahead of the game.
Added By: Joshua Feinberg