A sales funnel is an intuitive way to manage your sales process and forecast results with confidence
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A sales funnel is a visual representation of the steps required to sell your product or service. It shows you how many open deals you have, which stage they’re in, which need your attention and if you can reach your targets.
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.
In the example above, if you only have seven deals in the first stage instead of the average 13, you know you need to find six new opportunities to achieve your usual results.
You can also use a sales pipeline to track progress and zero in on areas for improvement, like getting deals from one stage to the next quicker and increasing deal value and volume.
Pipedrive is a sales management tool that’s great for anyone wanting to visually organize their business and get confident about results. Read sales funnel tips and more on our blog.