8 Tips for Keeping a Solid Sales Funnel With a Small Team. Part 2
A sales pipeline may be compared to the beating heart of your firm. As a result, its value and significance cannot be overestimated.
This means that if you don’t successfully manage your pipeline, you risk losing potential clients and your business may suffer as a result. Today, we offer four more ideas for your small team:
Keep track of pipeline metrics
Your sales pipeline is a dynamic, breathing entity that is always changing. As a result, you must keep track of the important sales KPIs that it generates, which include things like:
- The number of transactions in your pipeline
- The average contract size in your pipeline
- The average proportion of transactions won by you (close ratio)
- The average length of time it takes for a contract to conclude (sales velocity)
Set aside time each week to evaluate these indicators, as they will provide you with an ‘at a glance’ snapshot of the health of your sales funnel and business.
Tracking the outcomes over time will also provide you with a clear picture of how any adjustments or enhancements you make to your sales process contribute to overall growth. Make sure that your indicators do not “jump”. Their gradation should be as smooth as possible, and if the gap between them is quite large, then check that the advertising campaign is set up correctly and that the above steps are correctly followed.
Provide additional material to your prospects.
While phone conversations and emails are at the center of most sales communication, prospects may frequently want more detailed information to determine whether your product or service is a good fit for their company.
Consider what sort of material you can give to your prospects at each stage of the funnel to assist reinforce your message and move them forward.
As you drive prospects farther down the sales funnel, content becomes increasingly more critical. So, what type of material do you offer?
Keep in mind to follow up.
Buyers nowadays have more options than ever before, and as a result, they want more assistance in making the correct selection and selecting your product or service. It took 3.68 sales calls to clinch a transaction ten years ago; now, it takes more than 8!
In order to close the deal, the top salespeople will continue to follow up with leads. However, most salespeople quit up after two calls, so make sure you constantly follow up.
Remove any dead leads
It’s critical to focus on high-value leads, but it’s also critical to know when to let go of a lead. It may be difficult to let go, especially if you have spent weeks or even months developing and maintaining a connection with someone.
A lead is dead when they plainly indicate they are not interested, when they can’t be reached, or when you’ve spoken to them several times and they can’t be moved further in the pipeline.
Learn to rapidly identify these dead leads so you can move on to the next sales chance to clinch a large deal – without wasting any more time attempting to resurrect prospects that just will not purchase from you.
Extra tip: Improve and increase the number of conversions. The following techniques work very well in marketing to increase the conversion rate:
- Take care of the functionality and usability of the site. If it is an online store, then the shopping cart must be a required attribute of the purchase;
- Allow visitors to communicate in real-time with your consultant or manager, who will promptly answer all questions;
- A fairly new, but effective method – “A / B testing”. Its essence lies in the fact that you create two different advertising offers for one category of goods (or position) and after a while, you check their effectiveness. Thus, you will determine which of them brings more conversions and, accordingly, will invest more in its promotion.
The eight best practices we’ve presented will assist you in keeping your sales pipeline healthy, making your work more organized and structured, shortening and speeding up your sales cycles, and meeting your sales quotas faster, all while bringing growth and profit to your business even with a small team.
Originally published 2021.10.19