Your sales pipeline is the best indicator of your company's health and the place to see your deals. A well-managed pipeline is the best way to stay in control of your sales results.
The sales pipeline is a systematic and visual approach to selling a product or service. The sales pipeline is helpful in showing you exactly where the money is in your sales process.
You’ll be able to understand at which stage any deal is, whether you have enough deals on the board to achieve your goals and quota, as well as understand whether certain deals need special attention.
Number of deals in your pipeline.
Average size of a deal in your pipeline.
Close ratio - average percentage of deals that get won.
Average deal lifetime before it’s won - or sales velocity.
Start by measuring sales pipeline metrics in your business. In the following example of a small team, there are figures both for the whole sales pipeline and for each stage separately.
The figures are useful benchmarks for current results and future trends. It’s recommended to complete this exercise at least once a year.
For example, if your company has just seven deals in the first stage, instead of the average of 13, it’s clear that you should quickly find at least six new opportunities to make the numbers you’ve achieved previously.
You also start understanding positive signs; for example, you know that you’re making good progress when the average size of your deals in the pipeline is 16,000 instead of 13,080.
Get deals from stage one to stage two quicker
Increase the volume of total deals
Increase the size of your deals by upselling
We’ve built a sales management tool that’s not only great for salespeople, but also for anyone wanting to get super organised and close deals in less time. It is especially effective when the sales process is complicated and there are a lot of people and stages involved. 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.