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Sales Pipeline Facts
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GROWING YOUR SALES PIPELINE
WHAT IS A SALES PIPELINE?

 

A Sales pipeline, or a Sales funnel is the way a business visualises its sales process. In any step of the sales process prospects drop out of it, and from the large number of initially interested persons on the narrow end of orders only a fraction of the initially interested people remain and actually buy. The structure may start at various process steps (e.g. a sales lead, or later, a sales offer).

A sales pipeline is constructed by stacking several layers together. Typical layers include:

 

  1. New Opportunity
  2. Initial Communication
  3. Fact Finding
  4. Develop Solution
  5. Propose Solution
  6. Solution Evaluation
  7. Negotiation
  8. Sales Order
  9. Account Maintenance

 

New opportunities are put in the top and worked through the funnel until they either issue a purchase order, or become a disqualified lead. The key to surviving in sales is to make sure that each layer never goes empty. You should always know how many prospects are in each layer.

Knowing that it can take weeks or months to walk prospects through the funnel process, you better have multiple prospects at all the layers of the funnel.

So the bottom line is pretty straightforward. Make sure that you have action at all levels in the sales funnel and you'll never be desperate for a deal to close again.

We can take much of the grunt work out of building your pipeline and handover to you at step 5 - "Propose Solution". This means that you can spend you time talking to well qualified potential buyers instead of trying to find them.

There is another fundamental of human behaviour which is "people buy things they want from other people", the more time you or your sales staff spend talking to people who want to buy your products, the more you will sell.

Call us anytime on 1300 851 889, we would love to talk more about how we can help grow your business.

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