Managing your sales pipeline

Copyright ©Nick Bettes Consulting www.nickbettes.co.uk
Sales
Pipeline Management

Agenda
• Business surgery
• Workshop
– Defining your sales pipeline
• Action planning

Workshop Context
MARKETING SALES OPERATIONS MONEY
SYSTEMISATION AND RESILIENCE
BUSINESS PLANNING
VALUE
BUSINESS DIRECTION
PEOPLE

Learning Objectives
• To help you define your own sales pipeline and
performance metrics
• To explain how a CRM can help you achieve
more sales

The Sales Pipeline
Marketing
Leads
Qualification
MORE
BETTER
BIGGER
Conversion

Sales pipeline
• Your sales pipeline is the series of steps by which you
transform a lead into a sale
• You will qualify opportunities at various stages of the
pipeline
• You may lose opportunities at various stages of the
pipeline
• The number of opportunities will decrease as they
move through the pipeline
• The ratio of leads to sales and your average sale value
should form the basis of your sales plan
• Sales is largely about getting sufficient quantity of the
right quality leads

Sales pipeline

Managing leads
• Each of your leads will originate from some
form of marketing
• You should record where each lead comes
from and what happens to it
• It is the start of your marketing database
• You need to understand how much leads cost
in order to make decisions about future
marketing

Generating more leads
• Target a niche market
• Make your proposition compelling
• Contact existing or previous clients with a new
offer
• Contact previous “No sales” with a new offer
• Build your database
• Carry out a promotion audit
• Test and measure your marketing then adjust to
maximise return

Average Order Value
• You should know your average order value
(AOV). This is a KPI for your business, with
major impact on turnover
• Income = Volume of sales * AOV
• You should have strategies and actions in place
to increase your average order value
• Order value should be recorded against the
original lead to calculate return on marketing

Increasing Average Order Value
• Up-sell
• Cross-sell
• Extend life
• Bundle and integrate
• Price-point offers
• Volume offers
• Innovate & differentiate
• Turn capex into opex eg leasing, HP

Improving Conversion Rates
• Better qualification
• Better sales techniques
– Anticipate objections and take them on
– Guarantees
– Better rapport
– Situation  Problem  Implication  USP
• Proper sales targets
• Follow up quotes/proposals

Qualifying leads
• Qualifying leads early saves you time
• Typical qualification criteria
– Are you talking to decision maker(s)
– Do they have the budget?
– Do they have a compelling reason to buy now?
– Is the sale large enough and profitable enough?
– Is the probability of winning high enough?
– Can we actually do the job – and do it well?

CRM
Companies
Contacts Opportunities
Activities

CRM
• Custom fields or tags
– “Source”, “Height”
• Custom stages
– Match your sales pipeline
• Reporting
– Customise, export to Excel
• Automated marketing
– Triggers and sequences
• Links
– Emailer, event system, finance system

Action Planning
• Suggestions
– Formalise your sales pipeline process
– Formalise your lead qualification process
– Record and track number of leads, AOV and
conversion ratios
– Implement and use a CRM

Managing your sales pipeline

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