Pipeline Management 101
There are some basic tenets and rules of thumb for pipeline management that often get overlooked or forgotten. Since they've come up with clients over the past few weeks, I figured they'd be worth putting down in writing. Some of these may seem like no-brainers, while another may just be that thing you're missing right now.
This is by no means an all-inclusive list, and I'd love to get your input on anything else you think should be here.
First and foremost, know what you bring to the table, and who you should be talking to. You have to understand your value, and who will recognize that value the most.
Fish where the fish are
There are a lot of ways to make a number. You can make a lot of smaller sales, or you can make a few big ones. Don't try to sell high dollar items to people who can't buy them, and don't waste the opportunities you get with those who can afford to spend.
It's very helpful to have something to sell to everyone in your industry vertical, and more than one thing to sell to most people.
While this doesn't apply to everyone, this concept is vital for reducing risk, building trust, creating new opportunities, and keeping old ones alive. The more credible reasons you have to be in front of a prospect, the more often you will be in front of them.
Sell nuts to squirrels. Stop trying to convince dolphins that nuts are delicious
I heard Seth Godin say this once, and it stuck with me. Know your audience, and don't try to force things.
Review your list of active prospects weekly- at least
Yes, you hate that weekly activity report that you have to send your manager- nobody wants to feel like Big Brother is watching. With that said, I have always been a better seller when I was disciplined enough to review my active sales processes regularly, and you are too.
Protect time to actively review your current opportunities and pursue new ones.
What is considered to be important gets done. If your pipeline is not your priority, you won't have much of a pipeline.
Address the funnel from top to bottom.
Sales is a results-oriented game, and it favors those who execute their entire process most often. If the funnel is plugged at the bottom, the new opportunities have nowhere to go. Make sure you're following through with your prospects to a logical end one way or another.
Know what you want to happen next
Salespeople can't speed up the buying process, but they can avoid slowing it down. Always know what the next logical step is, and make sure to ask for it.
Join the conversation in the Rethink The Way You Sell Community.
Jeff Bajorek
Real. Authentic. Experience.
There’s a big difference between knowing how to sell and being able to. Jeff Bajorek spent over a decade in the field as a top performer. He’s been in your shoes. He knows what it will take. He can help you succeed.
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