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Pipeline’ is one of those sales pipeline bases that is used a lot. But suppose you spend some time in sales circles.
You’ll learn a lot about ‘getting leads into the pipeline’, ‘increasing your pipeline’ and ‘filling your pipeline with attractive leads’.
What is a sales pipeline?
A sales funnel is a visual and organized way to track multiple potential buyers through different stages of the buying process.
- In that sense, it is very similar to other gas pipelines from different sectors.
- The above definition that pipelines are a way of tracking progress towards a goal through a series of specific stages is a pipeline for companies in all industries.
- Funnels are often seen as a horizontal bar, sometimes like a funnel, divided into the stages of a company’s sales process. Potential buyers move from one phase to the next throughout the sales process.
- When making contact, for example, or qualifying a potential customer.
- It’s a way to illustrate where potential customers are in their journey from prospect to (hopefully) customer.
- With a funnel, sellers can see exactly where their money, offers, and other sales efforts are at all times.
- It’s a vital tool for salespeople, who are often juggling many leads and sales offers and can’t afford to let one slip away.
- It’s also an influential tool for sales managers who want to learn more about how their sales process works.
- Since a pipeline tracks a salesperson’s activities, it provides more visibility into which sales activities are giving the business the best performance.
- “They say Companies don’t know what their chances are,” says Michelle Seger, a partner at Atlanta-based SalesGlobe.
- “If you can see their activities, how long they’ve been there, and what their conversion rates are, it will tell you where you are and what’s not working.”
Building Your Sales Portfolio: What Do You Need to Get Started?
Since a pipeline is an essential sales tool, you can’t just launch one. Instead, you’ll need to make sure you have specific information about your company, sales team, customers, and product before you can put one together.
Here and now are some of the things you’ll need to have on hand before you can start creating a pipeline:
- A list of your potential buyers.
- Your team’s sales process
- Your income goals
- A scheduled meeting with colleagues.
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