Sales pipeline is a great indicator of a company’s health. It can show you the money (that you are going to make in the coming months). Manage your pipeline well and you’ll stay well organized and feel more in control of your sales figures.
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.
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.
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Fifteen-plus years of sales pipeline know-how condensed into one 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.
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