All organizations that successfully achieve a regular monthly and recurring revenue growth have established one significant thing.
A healthy three stage sales pipeline.
In-order to improve your sales outcome, you need to seriously consider improving the three important parts of your sales pipeline – pre sales process, sales activity and post-sales process. By maintaining a three step progress procedure, you can consistently guide and improve your sales outcome.
Along with creating and retaining a customer base, it also makes it easier to leverage and nourish your existing user-base to attract new customers. In-short, it’s a systematic process to create a series of sales processes that will function like a well-oiled machine.
In this article, we will discuss about how a three stage sales pipeline can amazingly improve your sales process. We will also go into the details of improving each of these parts to achieve these incremental results. In short, our sales processes will be able to improve your transactions and pave way for better sales outcomes.
Achieve the most optimal way of deal closure
All sales professionals are essentially looking to find the most optimal ways of finalize deal closures. In a simple sense, you are looking to travel between the two sales transaction points through its shortest path – from initial lead inquiry to final sales transaction and follow-up of post sales services. By establishing a sales pipeline, you can ensure that this process remains well streamlined and organized.
Within a CRM-based sales pipeline, you can setup definite responsibilities and conversion milestones. This will give you the direction to close the sales meetings and client responsibilities.
You can also specifically address and manage conversion for each lead. In short, all of these combine to deliver a positive sales outcome.
For example, your final deal closure will be the combined outcome of a number of meetings. A sales CRM lets you set specific milestones for each of the ongoing meetings.
Consequently, you can either reach a deal closure or move onto the next prospect.
Create and maintain Cohesion between Sales Teams
As you may have noted, managing each customer is an organization-wide responsibility. If you are just having a good pre-sales process without the actual deal closure skills, your sales process is liable to lose steam during the final stages. Similarly, if you start to push the pre-sales activities before actual nourishment, it can apparently come across as pushy.
By aligning pre-sales and post-sales processes through a CRM platform you can achieve a higher conversion performance. This will help you achieve better cohesion and management between teams to create a better sales cycle.
A strictly cohesive and streamlined sales pipeline also minimizes the risks of prospects dropping-out along the sales pipeline.
Dissect to Understand and improve every sales Process
As you may know, a sales Process could be considered to have different moving parts. This includes receiving inquiries, providing quotes, managing customer visits, negotiation etc.
A three staged sales pipeline helps you dissect and analyze each process. By having dissected each process into its concerned parts, you can start making well-informed selling decisions.
For instance, you can set a goal that each prospect has to be closed within a certain number of visits. In this way, you can maximize the sales outcome by handling each of these processes individually and in a streamlined manner. Having aligned different processes helps you elevate your final conversions.
Improve Customer and Prospect Engagement
Having increased customer or prospect engagement forms the highway to better sales and product interest. A well-organized sales pipeline lets you organize and manage your entire prospect list.
This makes it duly important to manage a timely lead response time for a high quality lead database.
Within a CRM-based sales pipeline, you can create a ticket escalation or beat plan that ensures on-time attendance for your entire prospect list. You can also guarantee proportionally higher volume of leads to pass-onto the next sales stages.
Increase Customer Referrals and Retention
Today, social and business recommendations carry the highest validity in making the right sales decisions. This allows you to get maximum leverage from existing customer groups.
Sales process pipeline gives you maximum utility to engage and convince each and every customer.
In the initial stage, you can start engaging with prospects. During the sales activity, you can discuss about further value addition strategies. In the last stage, you can add value to customer exchanges and take convincing steps to attract potential referral sales.
In-order to be successful, every business should try to establish a customer journey that starts from being an initial prospect to finally being a recurring customer. A three-staged sales pipeline lets you simulate and manage each prospect along the diverse sales procedures. A CRM platform enables you to channel and augment the sales pipeline to its fulfillment.