Proper pipeline management is crucial to achieving sales excellence and everyone is (or should) be aware of this. However, many confuse having a pipeline with actively managing their pipeline. The distinction between the two is highly relevant. The question quickly becomes: Are you managing your pipeline, or is your pipeline managing you?
The sales pipeline review is a crucial activity for sales management. Done correctly, it helps produce accurate forecasts, drive accountability and prevent deals from stalling.
I have an obsession with strong Selling Processes. It’s an important, but misunderstood aspect of sales effectiveness. One of the things I’ve discovered as a result of my diatribes, is many sales managers really don’t know how to reinforce the sales process in their coaching and development of their sales teams. I’ve gotten a lot of questions on this topic from sales managers, and I suspect there are a lot more that are embarrassed to ask about this.
Every sales person knows how difficult it can be to walk away from a deal. That’s why 25% of all deals end up in “no decision”. So, how do you know when to walk away?
The “funnel” is one of the most powerful metaphors in B2B sales and marketing. It describes the passage of prospects through a buying decision process that hopefully will (but often does not) result in your successfully selling something to them.
A big headache for sales managers and sales directors are pipelines full of opportunities that stall and don’t materialize, also known as leaky pipelines. This leads to inaccurate sales forecasts, missed targets and embarrassing moments with senior leadership. The reasons behind stale and leaky pipelines can be plentiful. And, without a structured sales process and focused coaching, the problem may never go away.
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