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What Is A Sales Pipeline? By Johnson Peter

  in Business | Published 2019-05-16 12:28:47 | 8 Reads | Unrated

Summary

Understanding what a sales pipeline is—a term often used in marketing and sales strategies—can be a bit unnerving at first. A sale pipeline, as the name suggests, typically reflects the sales journey of a product.

Full Content

Sales Pipeline Analysis

Understanding what a sales pipeline is—a term often used in marketing and sales strategies—can be a bit unnerving at first. A sale pipeline, as the name suggests, typically reflects the sales journey of a product. In simple terms, it is a visual depiction of every stage of your sales cycle, usually represented in a Content Management System (CMS). A sales Pipeline metrics is unique to your business, as the sales pipeline analysis differs from company to company.

The stages are common to all businesses, but the

overall structure may differ. Typically, they consists of the following stages:

 

1. Prospects

Every pipeline begins with seeking for potential customers, which is also known as prospecting. This, in turn, brings about lead generation, which happens when marketing efforts generate substantial interest in your products or services. These leads are the first that the sales team act on. The more targeted the leads are in your pipeline, the more opportunities to close offers.

Some ways of prospecting and lead generation include in-person networking, cold outreach (cold calls and emails), advertising, BTL activities, social selling etc.

2. Qualifying

Once prospecting and lead generation has been established, the next stage in the pipeline is to qualify them by making sure they fall in the target demographic for your product or service while also making sure that they have a need that your product can solve.

This is usually done by prospect research. One of the ways you can qualify leads is by accessing information about them through online sources. Once you have gained enough information, you need to make sure they are able to buy your product. Again, this can be done by accessing information about them online, looking for clues and looking at their social media. You can also choose to have a conversation with your prospect and explore what they feel.

Read here Stages for Procrastinating and Increase Sales from Day One

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