There are four key drivers to keep in mind in sales pipeline management:
- How many deals are you working on?
- How fast you are closing deals?
- How big is your deal, on average?
- How often do your deals make it to a successful close?
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STEVEN
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ANDERSON
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FOR COFFEE
A - ATTENTION
I - INTEREST
D - DECISION
A - ACTION
A - ALWAYS
B - BE
C - CLOSING
COFFEE
IS FOR
CLOSERS
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WITHOUT
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LEAD
CEO
GRUBBER
& CO
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REED CO.
ASKED FOR
A QUOTE
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DO YOUR
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AT
TEHNOPOLIS
ORDER
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CARDS
FROM
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FIND
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SEND
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TO PATRICK
NEXT WEEK
FOLLOW-UP
WITH
EDWARD N.
MET AT
SXSW 2013
E-MAIL
JOSHUA
ABOUT
POTENTIAL
PROSPECT
HOW MANY
NEW DEALS
ARE YOU ADDING
TO YOUR PIPELINE?
THINK
OF A NEW
WAY TO
APPROACH
MICROCORP
E-MAIL
JOSHUA
ABOUT
POTENTIAL
PROSPECT
CALL MATT
TUESDAY
3 P.M.
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1
HOW OFTEN DO YOUR
DEALS MAKE IT
TO THE VERY
END
?
4
HOW BIG IS YOUR AVERAGE
DEAL?
3
HOW FAST
ARE YOU
CLOSING
YOUR DEALS
?
2
4. CALL MATT
TUESDAY
3 P.M.
ACCOUNT
ACC.PAY. $6K
FOLLOW-UP
WITH
EDWARD N.
MET AT
SXSW 2013
E-MAIL
JOSHUA
ABOUT
POTENTIAL
PROSPECT
SEND
OFFER
TO PATRICK
NEXT WEEK
EXPLORE
THE
SITUATION
AT
WASP MEDIA
FIND MORE
PROSPECTS
IN
MANUFACTURING
SEND
UPDATED
PROPOSAL TO
JEAN
FROM IKEA
CLOSE
SEBAGO AIR
ONE WEEK LEFT!!
PREPARE
KEYNOTE
FOR
THE NEXT WEB
INVITE
STEVEN
FROM
ANDERSON
COOPER
FOR COFFEE
A - ATTENTION
I - INTEREST
D - DECISION
A - ACTION
A - ALWAYS
B - BE
C - CLOSING
COFFEE
IS FOR
CLOSERS
DAYS
WITHOUT
SMOKING -
42
CHECK UP
ON THE
DYNAMITE
PARTNERS
LEAD
CEO
GRUBBER
& CO
NEEDS A
FAVOR
COO
REED CO.
ASKED FOR
A QUOTE
HAVE JOHN
DO YOUR
WEEKLY
NETWORKING
AT
TEHNOPOLIS
ORDER
MORE
BUSINESS
CARDS
FROM
TANK
ENTERTAINTMENT
MONDAY
SKYPE CALL
WITH CEO
CONTACT
JDF LEGAL
WITH A
CONCRETE
PROPOSAL
LEARN WHY
NOBODY
GOT BACK
TO YOU FROM
INITECH
FIND
TWO
INTERNS
TO UPDATE
THE SITE
THINK
OF A NEW
WAY TO
APPROACH
MICROCORP
SCHEDULE
THE NEXT WEEK’S
SKYPE
CALLS ON
FRIDAY
RESEARCH
CRM’S!!
WATCH
YOUR
MORNING
KPI TEAM MEET-
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FIND
TWO
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TO UPDATE
THE SITE
SEND
OFFER
TO PATRICK
NEXT WEEK
FOLLOW-UP
WITH
EDWARD N.
MET AT
SXSW 2013
E-MAIL
JOSHUA
ABOUT
POTENTIAL
PROSPECT
HOW MANY
NEW DEALS
ARE YOU ADDING
TO YOUR PIPELINE?
THINK
OF A NEW
WAY TO
APPROACH
MICROCORP
E-MAIL
JOSHUA
ABOUT
POTENTIAL
PROSPECT
CALL MATT
TUESDAY
3 P.M.
ACCOUNT
ACC.PAY. $6K
IKEA MEETING!
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1
5. KEEP ON SHAKING NEW “APPLE TREES”.
DO NOT LET YOUR PIPELINE DRY UP. SCOUT FOR PROSPECTS AT ALL TIMES.
6. GO BEFORE YOU’RE INVITED.
IT TAKES ENORMOUS EFFORT TO
CHANGE PEOPLE’S MINDS & HEARTS.
GUIDE THEM INSTEAD.
HELP THEM FORM THEIR
INITIAL OPINIONS. DO IT EARLY.
7. LEADS QUALIFIED
MEETINGS HELD
PROPOSALS SENT
TERMS AGREED
Deals signed.
CONTACT MADE
MAYBE IT IS TIME TO
EXPAND THE TEAM?
DECIDE ON THE NUMBER OF NEW
DEALS TO BE ADDED EACH PERIOD.
AVERAGE # OF DEALS IN EACH STAGE
8. SET WEEKLY GOALS AND MAKE IT
A HABIT TO STICK TO THEM.
REMEMBER, ASK FOR REFERRALS.
TRY AGAIN WITH OLD PROSPECTS.
EXISTING CONTACTS + NEW JOBS
= NEW OPPORTUNITIES.
BE SYSTEMATIC ABOUT THE
RANDOMNESS - READ THE NEWS,
TALK TO NEW PEOPLE. LISTEN.
ADD MORE DEALS
3
WAYS TO
10. LEADS QUALIFIED
MEETINGS HELD
PROPOSALS SENT
TERMS AGREED
Deals signed.
CONTACT MADE
AVERAGE # OF DAYS IN EACH STAGE
CLOSER
MOVE DEALS FROM STAGE
TO STAGE FASTER TO BOOST
SALES NUMBERS.
TIME = MONEY.
11. RECOGNIZE
LOST DEALS
WHEN YOU SEE
IT IS TAKING
TOO LONG TO
GET A DECISION.
STEP-BY-STEP
LEARN THE DECISION MAKING
PROCESS OF COMPANIES THAT
BUY FROM YOU.
ASK WHAT YOU SHOULD DO TO
TAKE THE DEAL FURTHER.
12. REDUCE WAITING TIME
BE BOLD IN ASKING FOR SPECIFICS.
“WHAT IS THAT YOU NEED TO
CONSIDER BEFORE MAKING
A DECISION?”
“WHEN WOULD BE A GOOD TIME
TO CALL YOU TO AGREE ON THE
NEXT STEPS?”
WORKING
WITH THE RIGHT
DECISION MAKER
WILL SPEED
THINGS UP.
14. LEADS QUALIFIED
MEETINGS HELD
PROPOSALS SENT
TERMS AGREED
Deals signed.
CONTACT MADE
AVERAGE $ SIZE OF DEALS IN EACH STAGE
NW
NE
LET THE AVERAGE SIZE OF THE
DEAL BE YOUR NORTH STAR.
FOCUS ON THE VALUE OF YOUR
SERVICE OR PRODUCT TO SELL
MORE OF IT AT A HIGHER PRICE.
BIGGER PROSPECTS ARE CLOSER
TO YOU THAN YOU MIGHT THINK.
ADD LARGER DEALS INTO
YOUR PIPELINE.
15. WOULD YOU LIKE FRIES WITH THAT?
ANNUALLY. COME UP WITH LOGICAL ADD-ONS AND BUNDLE
MULTIPLE PRODUCTS OR SERVICES INTO BIGGER DEALS.
MCDONALD’S MAKES $200 MILLION WITH THIS QUESTION
17. HOW OFTEN DO YOUR
DEALS MAKE IT
TO THE VERY
END
?
4
18. LEADS QUALIFIED
MEETINGS HELD
PROPOSALS SENT
TERMS AGREED
Deals signed.
CONTACT MADE
AVERAGE % OF DEALS CONVERTED EACH STAGE
PICK ONE TO WORK ON.
MEASURE YOUR CONVERSION
TO UNDERSTAND YOUR SALES
SKILLS & IDENTIFY CHALLENGES.
AVERAGE % LEAD-TO-CUSTOMER CONVERSION
19. HAVE A BESPOKE ATTITUDE.
“WE FELT THAT EVEN WITH PREMIUM PRICING, YOUR
SOLUTION HAD SHOWN US THAT YOU UNDERSTOOD
OUR NEEDS BETTER THAN ANYONE ELSE ON THE MARKET.”
THINK OF THIS SIMPLE CUSTOMER QUOTE,
EVERY TIME YOU WANT TO INCREASE YOUR
CONVERSION RATE.
20. CALL MATT
TUESDAY
3 P.M.
ACCOUNT
ACC.PAY. $6K
FOLLOW-UP
WITH
EDWARD N.
MET AT
SXSW 2013
E-MAIL
JOSHUA
ABOUT
POTENTIAL
PROSPECT
SEND
OFFER
TO PATRICK
NEXT WEEK
EXPLORE
THE
SITUATION
AT
WASP MEDIA
FIND MORE
PROSPECTS
IN
MANUFACTURING
SEND
UPDATED
PROPOSAL TO
JEAN
FROM IKEA
CLOSE
SEBAGO AIR
ONE WEEK LEFT!!
PREPARE
KEYNOTE
FOR
THE NEXT WEB
INVITE
STEVEN
FROM
ANDERSON
COOPER
FOR COFFEE
A - ATTENTION
I - INTEREST
D - DECISION
A - ACTION
A - ALWAYS
B - BE
C - CLOSING
COFFEE
IS FOR
CLOSERS
DAYS
WITHOUT
SMOKING -
42
CHECK UP
ON THE
DYNAMITE
PARTNERS
LEAD
CEO
GRUBBER
& CO
NEEDS A
FAVOR
COO
REED CO.
ASKED FOR
A QUOTE
HAVE JOHN
DO YOUR
WEEKLY
NETWORKING
AT
TEHNOPOLIS
ORDER
MORE
BUSINESS
CARDS
FROM
TANK
ENTERTAINTMENT
MONDAY
SKYPE CALL
WITH CEO
CONTACT
JDF LEGAL
WITH A
CONCRETE
PROPOSAL
LEARN WHY
NOBODY
GOT BACK
TO YOU FROM
INITECH
FIND
TWO
INTERNS
TO UPDATE
THE SITE
THINK
OF A NEW
WAY TO
APPROACH
MICROCORP
SCHEDULE
THE NEXT WEEK’S
SKYPE
CALLS ON
FRIDAY
RESEARCH
CRM’S!!
WATCH
YOUR
MORNING
KPI TEAM MEET-
ING!
FIND
TWO
INTERNS
TO UPDATE
THE SITE
SEND
OFFER
TO PATRICK
NEXT WEEK
FOLLOW-UP
WITH
EDWARD N.
MET AT
SXSW 2013
E-MAIL
JOSHUA
ABOUT
POTENTIAL
PROSPECT
HOW MANY
NEW DEALS
ARE YOU ADDING
TO YOUR PIPELINE?
THINK
OF A NEW
WAY TO
APPROACH
MICROCORP
E-MAIL
JOSHUA
ABOUT
POTENTIAL
PROSPECT
CALL MATT
TUESDAY
3 P.M.
ACCOUNT
ACC.PAY. $6K
IKEA MEETING!
EXPLORE
THE
SITUATION
AT
WASP MEDIA
FIND
TWO
INTERNS
TO UPDATE
THE SITE
FOLLOW-UP
WITH
EDWARD N.
MET AT
SXSW 2013
1
HOW OFTEN DO YOUR
DEALS MAKE IT
TO THE VERY
END
?
4
HOW BIG IS YOUR AVERAGE
DEAL?
3
HOW FAST
ARE YOU
CLOSING
YOUR DEALS
?
2
22. AVERAGE # OF OPEN DEALS
AVERAGE % OF LEADS CONVERTED
AVERAGE $ SIZE OF DEALS
AVERAGE # OF DAYS DEAL’S IN PIPELINE
MAKE SURE YOU KNOW
YOUR ANNUAL SCORE.
23. AVERAGE # OF OPEN DEALS
AVERAGE % OF LEADS CONVERTED
AVERAGE $ SIZE OF DEALS
AVERAGE # OF DAYS DEAL’S IN PIPELINE
THEN DECIDE ON WHAT YOU
WANT YOUR SCORE TO BE.
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In negotiation
$17,880 2 deals
In negotiation
$17,880 2 deals
Proposal presented
$28,200 3 deals
Proposal presented
$28,200 3 deals
Needs discovered
$50,900 3 deals
Needs discovered
$50,900 3 deals
Contact made
$51,000 6 deals
Contact made
$51,000 6 deals
Idea
$66,900 8 deals
Idea
$66,900 8 deals
Deals in pipeline
Pipeline Deals Organizations People Products Statistics Settings Search
Lewis Deal (You)
DEALS
MORE LESS
TIME
BIGGER
DEALS
HIGHER
CONVERSION
REVENUE
& PROFIT
+ + + = BIGGER