All about a Sale Pipeline
A sale pipeline shows where your lead is in the sale process. In this way, one can maintain the check and balance of his business by looking at the health of his business. Sale pipeline in short provides the detail of your business growth. After all, if you don’t measure it, you can’t manage it.
Consider the sale pipeline as an ocean. If there is a problem at the upper layer then there is eventually a problem at the lower side. Sales pipeline management helps you to figure out the tiny problem at the early stages before the tiny problems become big problems that affect the profit of a business. With it, you can easily track the record of how much your reps close in a certain time period.
Sales pipeline cannot be dealt as the sale forecast of a business. Though, sales forecasts and sales pipelines are taken from similar data, rather sales pipeline is mainly the visual representation of all leads that pass through different stages and become a customer. Let’s discuss different stages of sales pipelines that tell the health of a business.
- Sales Prospecting
The technique of generating new business is known as sales CRM prospecting. It includes extensive study and research to find potential customers or buyers for your business. There are two types of sales prospecting, the first one is inbound prospecting and the other one is outbound prospecting. Outbound prospecting is, in which you reach out to someone who contacts you through your website or email whereas in outbound prospecting team will reach out to individuals using social media, LinkedIn or any other networking site. You can start targeting your potential customer through different means.
- Lead Qualification and Initial Contact
The second step is to qualify and filter out your leads on the basis of customer profiles that have characteristics that you need for your business. Your focus should be on the company size, location and targeted industry. This process will help you to find whether a prospect is good for your business or not. After this process, your pipeline starts to become narrow. You have done with filtering and qualifying; now the next step is to make the initial contact with the potential buyers. This is the first step for a sale. So you should schedule a meeting or demo with the buyer and make the initial contact. Make sure you are fully prepared for the meeting and that all things are ready for the demo.
- Making a Proposal
Now the time is for an official sale offer that you send to the buyer. Make sure that you communicate each and everything related to the buyer’s need by keeping in mind the main points of the buyer. You can make your proposal good by telling different advantages of your product.
- Handling the Objection and Contract
There might be a scenario that a buyer needs additional information or have some objection to your submitted proposal. You have to clear all the objections and address all the queries to make the contract happen.
Onpipeline is a pipeline management tool that helps to collect the right data in a centralized place along with the feature of creating quotes and invoices.