A sales pipeline is a visual way to manage complex and lengthy sales processes. 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.
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.
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 pipeline management tool that’s great for anyone wanting to visually organize their business and get confident about results. Read more sales pipeline tips on our blog.