Different ways in which sales team can build pipeline faster
You have heard sales teams saying: Always be Closing!
But the modest players in sales know, closing a deal isn’t an easy game. It’s the pinnacle of every business effort driven towards one goal – creating paying customers.
It’s the result of a relationship that takes time to nurture a perfect sales opportunity.
If you want to enable your sales teams to really convert leads at their fingertips, they need a strong sales pipeline.
For sales professionals, how to build sales pipeline has always been crucial as it helps them achieve daily sales targets and enhance organizational success.
With this blog post, we are providing you some creative techniques that help you build a sales pipeline and do business the right way.
But, first things first,
What’s a sales pipeline and why is it important for your business?
Before we start with sales pipeline management best practices, let’s understand the phrase ‘sales pipeline’ and why is it so important for your business’ success.
A sequential format that depicts where prospects are lying in the buying process is simply what we call a sales pipeline. The phases in developing a sales pipeline are different for every company, but typically follow a basic timeline:
Prospecting: Letting your prospects know about new business opportunities by sending them messages.
Qualifying: You catch a prospect, but still have to understand if they have the authority, need, and budget to deal with you.
Meeting: You introduce a solution to the prospect and explore if it will suit their business.
Offering: You send a detailed proposal to your prospect defining the terms of your offer.
Closing: You close the deal with this prospect, freeze the final discussion, and sign the contracts.
A perfect sales pipeline follows a systematic approach to selling. Every prospect is assigned to a particular phase and every phase has its own set of actions targeted at moving the prospect closer to the point of a sale.
Your business growth is defined by the structure of your sales pipeline, as companies with an ideal sales pipeline management see more than 28% growth in the revenue than companies with poor pipeline management.
A tactical sales pipeline will keep catching you revenue. While some prospects are signing contracts, others must be prepared for the sales-readiness at the same time. For this, pipeline management is a complicated matter of prioritization, delegation, and multi-tasking.
Creative Ways to Build a Stronger Sales Pipeline
- Using your social network
Social selling is still not a mainstream phenomenon. Well, most sales teams are using social media for prospecting, many of them still have no idea that social platforms can be used for strategically building a sales pipeline. High volume searches are definitely a good way to find new prospects, a healthy sales pipeline is built using quality contacts and not quantity. Here’s another article from team LeadX on how to build an effective sales process.
Fortunately, many social platforms come with amazing search capabilities which, when used strategically, can prove a lifeline for your sales pipeline. Some of the benefits of using social networks for your sales pipeline are:
Targeted searches: For a robust sales pipeline that constantly creates opportunities, you need to identify the right people – the decision makers in the organization within your targeted audience. Advanced search options in social platforms like LinkedIn and Twitter help you search for accounts and people based on their job function, hierarchical position, and other criteria that will help you find the perfect decision makers.
Relevant insights: Social networks offer a pool of information useful for your initial interaction with your prospect. You can get their first impression by getting an overview of their social shares, the groups they are part of, and their interests.
Finding mutual connections: Your current social contacts can serve as a ‘warm’ introduction to your prospects. Having mutual connections in your contacts will build the first impression of trust (somehow) with your prospects. This theory is still debatable.
- Call your best customers
Your current customers are the best choice for your future customers. Your customers already know your products and they are a single trusted path to tap your future customers. Yes, we are talking about referrals here. Your current customers have contacts working in the same industry and they can refer your brand to them.
Referrals and peer endorsements work magic in building a B2B sales pipeline. Here are some interesting numbers for you:
- 84% of buyers convert due to referral.
- 92% of prospects trust referrals.
- 83% of customers provide a referral after a positive business experience.
- 29% of customers offer referrals without asking them to do so.
All your customers are the best, choose the interested ones and call them. Ask them about their wellbeing and get insights on how they liked your products and service. Never let them know that you are doing this for your sales pipeline.
After a meaningful conversation, ask them if they have anyone in their contacts who need the products and services you are providing. Treat your customers well, and they will definitely recommend your brand to their peers.
Your network and social network are the two strongest ways to get future customers to easily convert for your business.
Never let your customers down with a poor experience. Keep them happy and they will recommend you to their peers.
At LeadX 360, we have an interactive platform tailored for your business that lets anyone in your organization put hot leads. The rest is in the hands of your sales teams.
Help your sales teams build a strong sales pipeline and growth for your business is inevitable.
To know more about LeadX 360, visit www.leadx360.com