What is your sales process?
Whether you have it documented or not, you follow a general process to take someone from interested to invested.
A sales pipeline is the manifestation of that process. It gives you the
visual representation of what is happening in your sales funnel, what your sales cycle is, and where you are succeeding.
In most sales pipeline or sales management software, you have a few key elements:
- Lead tracking
- Opportunity (or deal/sale) tracking
- Sales forecasting
- Conversion tracking
These fundamental elements help you to track what you’re doing and the outcome of your efforts. Using this information, you can make more informed decisions for the future regarding hiring needs, resource allocation, diversification, training, and more.