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What is a sales pipeline?

A sales pipeline is identified as the constant generation of leads to ensure a stream of work for the future. For instance, some companies that I speak with about lead generation state that they have enough work at the moment and they do not have time to take on any more business. Although this is a great way to be and nobody can doubt that, 100% of this work will not be set in stone forever. This is when keeping a sales pipeline is key. There are a few things you can do to ensure that you constantly have a pipeline. I have listed some tips below to assist with managing your sales pipeline.

1) Allocate yourself time to generate new leads and contact new businesses.

Depending on your lead time, it may take months to close the business so you may as well make a start as soon as possible to build those relationships.

2) Do not stop during particular months.

This is a massive mistake and can hinder sales – especially if you don’t realise until a month before how low your sales pipeline has become.

3) Calculate your lead to win ratio.

This can help you understand how many leads you need to gather to win a certain amount of business. This can be a fantastic tool for predicting your sales pipeline.

4) Do not stop all your marketing methods because you are ‘busy’ enough.

I’d rather have 5 prospects on the phone wanting to work with me than abandoning all contact with prospects and re-instigating conversation when sales start to dry up. Without contact, prospects will look elsewhere because they have forgotten your brand or did not consider you an option anymore because you went cold on them. It’s so important to maintain regular contact.
Even by dedicating a small amount of time every month to your sales pipeline, you will be able to nurture leads to keep in touch with prospects, and find new clients.