A sales pipeline is a cluster of sales opportunities and prospects at different stages of the pre-defined sales path. It is a mechanism of tracking the deals and monitoring the time taken at each stage before being closed.
The sales pipeline is a systematic method of observing and pursuing potential clients, and their progress, at different stages of the sales process. It tracks the progress of the sales, right from the prospecting stages until it is being closed.
A company cannot be satisfied and content with the sales they are handling at present. They have to keep the sales pipeline always full to maintain the company financially healthy.
To keep your sales pipeline full, you have to follow 3Ps - planning, patience, and persistence. There are plenty of opportunities available, but you have to develop your insight and expertise to explore them. If you adopt the right practices to keep your sales pipeline full, then you will not fall on bad sales tactics.
A sales pipeline without the right prospects, information, and customers is not of much use. Sales reps should focus on existing customers, as well as new prospects.
Experts suggest numerous time-tested principles to be followed to keep the pipeline full.
Take Care Of Existing Customers
Up-selling and cross-selling to the existing customers are some of the best sales tactics, followed by successful salespersons. It is also a time-proven client retention approach.
Existing customers are a great source of referrals. Make it a point to be in touch with the customers at every possible opportunity through different channels. If there are any new requirements, the probabilities are that you will get the order.
Prospecting Will Keep The Hopes Alive
Prospecting is the first step in sales processing, and it should be a continuous and on-going method. Sales reps should be consistent in their follow-up. You should monitor every channel and observe the buying triggers.
Observe the trends and triggers which generate more leads. Never lose a potential customer.
Referrals The Best Way To Get Leads
Customers referral is the most powerful lead generating technique. It is the best source for leads and new business from satisfied customers.
Your current customers have trust in your products and services, and their recommendations will be influential.
Referrals don't come on their own, you have to speak to your customers and make your specific requests. Consistent prospecting is the key to successful sales closures.
Referrals bring in new customers. It is one of the strategies to ensure that there are always some leads in the pipeline. Reps should keep asking their existing customers to refer new clients.
Automation & Technology – A Leap Forward
Automation of the sales process will help you in building an ideal customer database, to close more deals. With the coordination of individual skills and technical expertise, you can anticipate the leads at what stage they are getting lost. With the help of advanced technology, you can change the sales strategy and tactics to keep the pipeline always full.
Sales CRM and sales automation software can help you in organizing the sales.
Prospecting Through Different Channels
Try various sources and channels to fetch customer data. Different sources will bring in more variety of leads.
Even the various social media platforms can be valuable prospecting venues. Never neglect or ignore any channel, as you cannot predict which channel can generate more leads. Face to face, interaction is considered the best source channel even in this present technology era. The simple mantra to keep your pipeline full is to improve your network and teamwork.
Pricing Purview, Review, and Preview
Pricing, in any industry, is extremely important to develop the product value. Maintain a method for assessing and updating your pricing theory. The important element in evaluating a business is pricing power.
The price review will give you an analytical view, whether you are charging the correct price. It gives an in-depth analysis of the supply and demand scenario of the market. A perfect price can maximize the revenue and retain your customers.
Implement Best Mobile Sales CRM
Organizations following old-school sales techniques find it difficult to cope with the customers, competitors, and industry in the present technology era. The advent of the latest technology and easy availability of the Internet and compatibility of mobile devices to do the tasks, which were once only possible on desk-tops, has changed the approach of customers and business.
The mobile device users expect real-time interaction and information to be available to them. Sales staff who are always on the field, meeting clients, require access to crucial information like schedules, meetings, customer details, and documents. They require information when they are not at their desks.
Mobile Customer Relationship Management (CRM) comes to the rescue of the sales team and other related support teams to access information and details in real-time.
World’s First Mobile-Based CRM for Sales Reps
The benefits and advantages of Mobile CRM, any industry that is looking for its sales team, can be easily provided by Toolyt. The user-friendly app, which even a non-technical person can easily use it.
Toolyt is an extension of the CRM system, specially created for the Field Sales Executives. It is an Artificial Intelligent Field Sales Assistant, covering all the sales features. It is useful in generating leads, forecasting, and integrated sales planning. The solutions and insights are easily visible while you are on the move. It can help in keeping the sales pipeline full by its timely insights and notifications.
Toolyt can be integrated, with the currently existing system you are using at present. The aspiration of every organization is to mobilize Sales Automation, proficiently and logically, for the advantage of the company.
Toolyt mobile CRM which sales Reps will adore and management will covet to have. It is an end-to-end seamless solution. Being a part of Toolyt is the first step towards success.