The sales funnel is a great measure of your company’s health. It provides a clear view of the opportunities currently available to your sales team, showing you the revenue that your team is going to make in the months ahead. A well managed sales funnel will get all of your sales efforts well organised and put you in control of your sales results.
A sales funnel is a visual representation of the steps required to sell your product or service. The sales funnel gives you a complete overview of where in the sales process your money is.
A sales funnel reveals how many prospects you have in each stage of your sales cycle, and also details the conversion rates for each stage. This will tell you whether you have enough deals in your funnel to meet your goals, and whether you need to appoint special attention to certain deals.
Measuring the sales funnel metrics of your business is the first step to effective sales funnel management. The following graph provides an example of a small team’s sales funnel with figures for the whole sales funnel as well as for each stage separately.
These figures are useful for benchmarking against current results and future trends. For achieving ongoing improvements, it’s good to complete this exercise at least once a year.
If your team has currently just 6 deals in the first stage of the funnel instead of 13, then it’s a clear sign that you should find and add at least 7 new prospects in order to achieve the numbers you’ve made previously.
This exercise will also start showing you positive trends – for example, you’re making great progress if you’ve increased the average deal value in your funnel to from 13,080 to 14,500.
The best thing we love about Pipedrive is it does two-way sync with Google Apps. It has helped us to better organise and keep everything on track.
Genuinely different, with more powerful and useful features than any other CRM we have seen
I am fascinated with the way Pipedrive allows every user to capture necessary information to enhance the sales and structure of our business. Not only sales, but production, marketing, accounts, meetings, telemarketing and so on. So easy to use that it's a must for every small to medium size enterprise.
We’ve built a CRM-replacing sales management tool that’s not great for just salespeople, but for anyone wanting to get super organised and close deals in less time.
About half of our customers liked us so much they switched from their existing CRM. The other half? Well they didn’t even know they needed Pipedrive until they tried it.
15+ years of sales pipeline know-how condensed into 1 email course and ebook. The email course and ebook contain 11 salary changing sales pipeline management lessons that will help you grow your sales by double digits.
Find out more ›