3 Tips to building an efficient deals pipeline

A common feature among all sales driven CRM platforms is the Deals Pipeline, this is the process of steps taken by your prospects and you sales team along the path to conversion. A deal is not just about the contact or companies which are associated to the sale. A deal should be created when there is a real possibility of money exchanging hands. If you create a new deal every time one of your reps engages with a prospect before they are truly interested in your product or service then your pipeline will become clogged with stagnant deals that are not moving through the pipeline and low conversion rates.

When building your Deals Pipeline you must first map out your typical sales process. Understanding each step along the path to conversion is essential to building an efficient pipeline. When mapping out your typical path to purchase include every step along the way. When you are finished it may look something like this:

Now here are 3 steps you can take to making this a more efficient deals pipeline.

When you apply these criteria to any deal pipeline, no matter how long and complicated it may be you will be left with a shorter more efficient path to purchase. Fewer deals will sit in the pipeline and turn stagnant, and your team will have clearly defined actions to progress the deals along. A more efficient deals pipeline will result in higher conversions and better deals for your company.

We take a more detailed look at the Deals Pipeline in the inbound sales module of our CRM Training Program.

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