2 Agenda What is opportunity pipeline management? How to fill your Pipeline!How to Manage your Pipeline !
3 What is opportunity pipeline management? SILVER BULLET of SUCCESSSimply put, your sales pipeline is the amount of business you attempt to close in a given month, quarter, or year. As time passes, you can begin to track what share of sales you close. If that share is consistent, you should be able to forecast sales with greater accuracy, which will give you greater confidence and help you plan accurately for future demand. You will also glean information on where you fall short: For example, is your conversion rate low, or are you converting plenty of customers, but only getting a small share of their total business?Leverage your efforts to create a better environment for closing sales.Create Accurate Visibility into all Future Sales
4 How to fill your Pipeline! Getting Back to BasicsGet OrganizedKnow Your MarketKnow Your ProductsWork Your Calendar15 Sales Calls per Day6 Presentations per Week1-2 Closings per WeekWORK SMART not HARD
5 How to fill your Pipeline! Getting Back to BasicsHave Productivity Software !If You FAIL to PLANYou better PLAN TO FAIL
6 How to fill your Pipeline! Getting Back to BasicsTrack Daily ActivityBe Accountable to YourselfEnter Data ACT or Sales LogicDefine Pipeline ProcessMonitor Progress
7 How to Manage your Pipeline ! 1: Define who qualifies to be in pipeline !2: Define what stage your prospect is at !3: Define what Actions are to follow !
8 Organize your Contact’s into stages Define who qualifies to be in pipeline !Organize your Contact’s into stagesSuspects: A shop that you identified but have not met yet.Prospect: A Shop that you have met with but have not sold.Competition: A shop that you have met with that has competitive product.Web Trial: A shop that you have met with that has been given a Web Trial.Quote: A shop that you have met with that has been given a formal quote.
9 How to Manage your Pipeline ! Organize your Opportunities into Stages Initial Communication 5%Web Trial %Lead %Appointment Set 30%Presentation %Follow Through %Commitment to Buy 90%
10 How to Manage your Pipeline ! Use Software to Track OpportunitiesYou have to track how you have done to know what to expect in future !!
11 How to Manage your Pipeline ! Use Software to Track OpportunitiesCurrent Month Opportunities !
12 How to Manage your Pipeline ! Use Software to Track OpportunitiesNarrowed to Actual month Closing!!Do You Know What stage you close most of your deals at ?Would you like to know where you will end the month ?Would you like to be able to have your boss give you a raise ?Have you ever forgotten about a viable Prospect ?WORK SMART not HARD
13 If you Fail to Plan, Plan to Fail ! This illustration is great for the actual use of Pipeline Management.You have to shovel a lot of stuff in one side to be able to get those few Gem’s out of the other side !You have to be honest with yourself and your Pipeline to get the results that you desire !This is your Business you can let it manage you or YOU can manage your Business !All successful sales businesses use call reports and projected forcast’s, Is your Business Successful ?You have to do what you don’t want to do to get what really matters to you!REMEMBER YOU HAVE TO LOOK AT YOUR BOSS EVERY MORNING !IS YOUR BOSS HAPPY ?