Pipeline at a trickle? If you need a refill, look no further!
Updated: Jul 11
So here we are in June – how did that happen? Time continues to fly as we focus on driving business and achieving sales objectives. But if the latest indications are to be believed, most sectors have slowed this year and sales forecasts have been harder to reach. So, are you on or behind target at the half year?
Congratulations if you are meeting or exceeding targets at this point – but would you like more in your pipeline? If you are looking at it and wondering how you can top it up, there are several ways you can develop and replenish it.
Wanting to overachieve or achieve requires the same approach - first, develop a focused effort on those leads with the most potential – evaluate your existing leads and prioritise those with the highest potential for conversion. Focus your efforts on leads that align best with your most profitable customer profile and have a higher likelihood of becoming customers. Telephone engagement at this point is an effective way to build relationships with prospects who have already shown interest in your products and services. This personal mid-pipeline engagement is critical because it is the time when prospects can be evaluating options and making purchasing decisions.
As we outlined in our previous blog ‘There can be more than one needle in a haystack’ the importance of lead nurture should not be underestimated and is critical in pipeline acceleration. Implement a robust lead nurturing strategy to engage and educate your prospects throughout their buying journey. Provide valuable content, personalised communication, and relevant offers that address their specific needs and pain points. Building relationships with leads over time increases their trust in your brand and improves the chances of conversion.
Of course, working on nurturing current leads should not detract from driving new demand opportunities, especially where focus on a sector or client type can yield new opportunities and expand your pool of potential customers. Outsourcing some initial telephone calling to evaluate the opportunity at the same time as driving engagement opportunities will also deliver some useful insights to help hone your value proposition and messaging for future marketing campaigns.
Alongside very targeted activities don’t forget to leverage your CRM systems to help optimise sales efforts, prioritise your activities and analyse ongoing activity. Use data and analytics to understand conversion rates, sales cycle lengths, and other key performance indicators. Identify the preferred key vertical markets where you have a track record, trends, patterns, and areas of opportunity, and make data-driven adjustments to your strategies and tactics.
Don’t forget existing customers to drive incremental revenue by cross selling and upselling, as well as through referrals. A referral from a trusted source can significantly accelerate the sales process, as prospects are more likely to convert when referred by someone they trust.
By implementing these strategies, you can accelerate your sales pipeline, improve conversion rates, and exceed your sales targets. Remember to remain agile and adaptable, continuously optimising your approach based on market feedback and changing dynamics, possibly by industry segment.
We have successfully supported our clients by refilling their pipelines – and accelerating them. Talk to us and see how we can support the achievement of your sales targets by year end. Call us now.