Sales can take a long time. In fact, it can take from 45-90 days to convert from initial interest to opportunity and finally to deal. Since you may have bunch of prospects at a time, it is important to pay attention to where the opportunities exist.
To meet Revenue goals it’s important to have strong pipeline covered.
The question most sales professionals need to ask is whether their pipeline coverage is strong enough to meet revenue goals.
If you are unsure of how strong your prospects truly are, review these methods for building stronger pipeline coverage. If you are already incorporating most of them into your strategy, you should be well on your way to meeting revenue goals.
Road Map should be created
If the Revenue Goal has been set, then all you need to focus is on how your sales teams will arrive there.
Basically, the pipeline should be 3 times more which would be effective to reach your goal. Some concrete actions should be taken for that by Sales professionals.
In order to build the pipeline sales professional should measure what should be controlled.
Prospects generation should be done through various channels. If the conversion rate for one channel is low, sales expert can shift their focus to other channels. Determine which channels should be included in the pipeline, and then designate them by importance of channel giving output.
Monitor Prospect Progress
Opportunities flow through your pipeline from initial opportunity to deal. You may get some prospects and loose some completely. Too many prospects at the top of the pipeline or clustered near the bottom can cause issues as each leads in progress needs maximum attention. Discover where these hang-ups exist and determine how best to manage them. If there are dead prospects holding up the cycle, remove them completely and focus on prospects that needs more attention.
How to manage Dead Leads
Some prospects stop communication completely. There are many different reasons. A prospect may be busy or they may be involved in shopping around for quotes from your competitors.
How to reignite these prospects? Make sure you don’t piss them off. If a prospect says they are busy, give them space and focus on putting efforts on another prospect. You should balance on which lead should be given most attention and who will give you better output.
Focus on Engagement and Retention
While creating better pipeline cover you should keep this simple rule in mind:
Content = visibility, and visibility = sales. Without visibility, your pipeline could end up being virtually non-existent.
If you miss the visibility of potential clients, no matter how great the product or sales teams are, you will not reach your revenue goals.
Shift your focus to increasing visibility.
Focus should be more on engaging and nurturing the prospects in your pipeline rather than thinking just about closing deal.
Modern buyers want to build a long-term working relationship with the companies they purchase from, and the foundation of any relationship is engagement.
Must have strong pipeline
If you are already incorporating most of the above methods into your prospects generation, you have likely built a strong, viable pipeline.
Moreover, giving it good attention can surely get you achieve your revenue goals.
If you notice some of these methods are missing, consider fitting them into your strategic plan for building and covering your pipeline. In a world full of surprises, continuing to build on an already strong pipeline is never a mistake.
Time is money for Sales Professionals
As we all know sales professionals are not get paid for number of hours worked, but they are paid handsome salaries for output they produce. So it's imperative that sales professionals should manage their time properly and make the most of it.
Time management is a critical skill but again it proportionate to all your dreams and aspirations.
Remember, you can't manage time; all you can do is manage yourself with respect to time.