These are strange times. While medical professionals are striving to maintain COVID-19, businesses around the world are struggling with the disruption of the day-to-day. It’s a confusing time for everyone. Many of us don’t know what the next steps are. However, the smart leaders are looking at and focusing on their sales pipeline. They will be asking:
- Does my sales team know how to build a new pipeline post COVID?
- Does my sales team know how to manage the key principles of Sales Pipeline Management?
- Am I confident that myself and my salespeople will hit the target that we NEED to hit in the next 12 months?
- How much time do my salespeople spend in the field with customers and how will they make up for lost time in the field?
- How many new customers / proposals do my salespeople need in their pipeline to achieve target?
- What are the key activities that will drive their results?
- How do our salespeople manage the average lead time from identifying a new opportunity to invoicing it?
- What is the historic fall out rate from our existing accounts?
And, here’s a look at that same location in 2020. Events and public gatherings of all kinds have been put on hold as we move into this new normal. And B2B selling has and is going to see further impacts on how we do business over the coming months. A 2019 Events Marketing Benchmarks and Trends report interviewed 1000+ senior marketers at companies managing over $738 million in event spend a year from the software, services, and media industries. Here are a few highlights from that report that stood out to us:
- 30% organise events to support lead generation + sales acceleration
- 41% see live events as the most critical marketing channel in achieving business outcomes
- 63% plan to increase their budget by 22% in 2020
SUMMARYA sales pipeline can be compared to the beating heart of your business. That’s why its importance and value can hardly be overestimated. This means that if you don’t manage your pipeline successfully, then you risk losing out on new customers and your business could suffer. With more than 60% of sales managers saying that their company does a poor job of managing their sales pipeline, chances are you need to improve the way yours works, too. The best practices and methodologies we have developed over the past 20 years will help you keep your sales pipeline beating at a healthy pace, make your work more organised and structured, shorten and speed up your sales cycles, and reach your sales targets quicker, all the while bringing growth and profit for your business.
HOW DO YOU MANAGE YOUR SALES PIPELINE?
For a confidential assessment of your business and sales pipeline in a post-COVID world,