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How to Close Profitable Sales

How to Close Profitable Sales

How to Close Profitable Sales – What Do You Need To Know?

Discover how to close profitable sales and it saves time, turnover, profit, reputation, resources and sanity.

Get it wrong and welcome to inaccurate sales forecasts, deals left wide open for the competitors to walk into and pick up, profit drains, instability and poor ability for forecast.

Knowing how to close profitable sales could be the difference between a high stress low margin sales environment and a solid, stable sales machine.

How to Close Profitable Sales?

Golden Rule: Always be prepared to leave a deal on the table.

Any exceptions to this? Not that I can think of.

Let the deal mature. Keep in contact, keep it warm, but hold the line.

Just because the buyer hasn’t snapped your hand off on receipt of the proposal, just because they haven’t got back to you when they said then would, and just because they haven’t responded to your email….

Just hold fire.

None of this means the deal is dead.

Avoid falling into the trap many sales people will happily dive head first into given the first sign of coolness from the Buyer.

You see, a regular jobbing sales person will get scared.

At the first sign of coolness from the prospect, they’ll simply assume the deal is being made with a competitor and they’re missing out.

It’s not always the case.

In fact, it’s often NOT the case.

Not Every Sale is a Good Sale!

A sale at any cost is just a race to the bottom.

And, typically the first reaction to a ‘cooler’ buyer is to start panicing, and try to cut a deal.

Any deal.

The first thing to get a hair cut is the price…margins get stripped out in exchange for a speedy signature on the dotted line.

WOW…savvy Buyer who uses that trick…stall a few days and watch the price crumble…first lesson in Purchasing School.

But what if the Buyer then accepts your lower price and STILL drags his heels?

You’ll knock the price back up to the higher, original level?

Good luck with that…please write and let me know how you get on.

The truth is – panic, negotiate and you’ll drop credibility and the business loses profit…and you’ve got to work hard to replace what you originally had, or could have had.

Congratulations, welcome to the Hamster Wheel….start running!

Lesson? You know the lesson….hold the line.

Want to Improve Your Profitable Close Rate?

Get a great deal to the table, lock it in and leave it there.

Here’s how.

Of course, make sure you keep in contact with the Buyer, make sure the Buyer has everything needed to make their decision in your favour.

But, the cast iron opportunity to REALLY protect yourself from this panic driven desperation, that costs you your reputation, credibility, pipeline, margin, commission and self respect, is to look at what’s happening during the sales process and how you interact with the buyer.

Closing Well Means Nothing If Your Sales Pitch Stinks!

Think about this…because it matters a lot if you want to discover how to close profitable sales

During your sales demonstration, you will have been careful to build a strong relationship with the Buyer, to do this you’ll have:

  • Checked and double checked you’re dealing with the decision maker because your time, expertise and insights are too precious to waste.
  • Checked budget and budget availability because you don’t want to spend time with the wrong person or zero budget prospects
  • Mapped the decision making process with the decision maker because that’s how you keep track of where you both are.
  • Uncovered the buying criteria because you need to know their expectations and buying pathways.
  • Uncovered the date the decision will be made by, based on when the product/solution need to be in place, because this will help you track the deal though your sales funnel and sales pipeline
  • Gained the prospect’s trust and asked detailed questions around implications associated with the purchase because you need to understand motivators and pain points.
  • Explored the extent of their relationships with your competitors and potential substitute solutions, or work arounds, because this tells you how much they need/don’t need your product/service
  • Investigated possible hurdles too because you need to explore these thoroughly and early on in the sales pitch
  • Coaxed out explicit and implicit objections and dealt with them because you NEVER want to have these bite you right before signatures are due.
  • Been able to provide some kind of financial indicator, maybe not an absolute figure, but a range; and in doing so you’ll have been able to assess, respond to and justify your costing in a totally transparent way because a robust ROI is one of the biggest closing techniques you’ll have access to.

You’ll have done all that won’t you?

If you haven’t then check this out….How to Sell.

As a result you’ll also have formed a relationship of value, integrity and openness, for both of you.

These are the very basics. Miss any of these elements out at your peril.

With all that done, have some faith.

Will all that in place how to close profitable sales just becomes a question of timing, not skill.

What Else Can You Do To Close the Sale and Get the Order?

Hold the line….BUT keep this in mind:

The In Principle Decision

 The order’s not in until the signature is on the dotted line, but that doesn’t stop you asking for an in principle decision, such that your buyer gives you a ‘yes’ pending agreeing a date to get the actual order signed and back to you.

Own It!

It doesn’t stop you being highly assumptive.

I see a million sales a year drop through the cracks because the sales person is way too reticent in claiming ownership of the order and letting the prospect know that they have claimed responsibility for the order and getting it to order completion.

Own it! Push it!

Make it Easy for the Buyer to Say YES!

Your aim through this whole process is to make it as easy as possible for the buyer to say yes.

Take all the pain away, all the admin, all the responsibility to getting the order signed off, such that all the buyer is required to do is to email you a P.O.

Make Friends with the Decision Making Family

Make sure you’ve got all the influencers, all the referrers, all the other decision makers lined up and in agreement with your solution.

Sure, this is hard work…it takes time.

It costs a lot, but it’s worth a lot.

Having done all of that here’s what you don’t do.

What You Don’t Do If You Want To Close Profitable Sales.

You Don’t Panic

Silence is NOT a coded message from the Buyer for you to think ‘Let’s call the prospect and halve the price’…unless that’s how YOU interpret and YOU react.

You’d be surprised how many sales people have that very strong connect in their head.

It’s deadly.

You Don’t Assume – ASK!

You’ve build a good relationship with the Buyer, you can ask some direct questions.

What’s the hold up?

Is there any other information you need from me?

Do I need to meet with anyone else to expedite this through for you?

Are you going to place your order with my business?

Has anything changed since we met?

Is there anyone else involved that I’m not aware of? 

How to Close Profitable Sales and NOT Panic

So, here are a few things you can do to ring fence the times when you may be left hanging, and to prevent radio silence from the prospect:

  • Put an expiry date on all of your proposals.
  • Make sure you get a firm ‘yes’, even in principle, before you leave the meeting.
  • You must ask for the business as part of your sales demonstration.
  • Don’t leave the meeting without closing. Closing with the promise to send an email proposal will make you a busy sales person, not a rich one.

Stop Working for Zero Reward

If you’re serious about closing profitable sales then this is an absolute must, which you can choose to ignore this at your peril.

How and when you set this up will either make you a busy admin gofer, or will make you a fortune.

You pick!

Let me ask you:

What’s the one question you could ask, once the Buyer has told you that you’ve got his business ‘in principle’ that would indicate to you what the buyer’s real intent is?

Just one question…

Do you know what it is?

Any idea?

It’s this:

That’s great Mr Buyer, I’m so glad we’ve got this opportunity to work together, now, do you have your diary for next week, I can come back in on Wednesday or Thursday to go through the paper work with you, explain the quote/conditions in full and answer any questions you have, and the you can place your order. Now, which one of those days is better for you?

That’s it.

One question.

Will save you a fortune in time, selling time and admin time, it will save you chasing quotes that won’t fall in your favour, it will prevent you forecasting a deal that’s never going to materialise… it will tell you if you’re dealing with a buyer who is actually willing to do business with you.

Just one questions – the guess work and the mystery falls away.

Panic gone.

You know!

If you ask for an opportunity to come back in to present your proposal and the Buyer says ‘no’ then you have a very strong idea of where his intentions are.

That’s very useful.

Truly, very valuable.

It’s an opportunity for you to re-pitch, to re-explore, to challenge and re-close , or to move on.

So, having asked and secured the opportunity to come back and present the proposal, you can be confident that the only reason you are being accepted back to present a proposal is that the Buyer is sufficiently engaged and excited by what you had to say the last time you met.

And that the Buyer is ready to do business with you.

The Emotional Dip

But still, here’s what will have happened since you last met with the Buyer:

  • As time has passed his excitement will not have increased – it will have diminished and it will have diminished rapidly and steeply.
  • Plus, he may have seen your competitors, spoken with nay-sayers within the business, come up with a whole different list of potential objection or questions.
  • He may have ruminated on some of your words, some positively, some negatively, but the end results is that his thinking may be lacking the clarity it had when you last met.

The Second Meeting to Sign the Order – It’s Still a Sales Pitch!

In going back with the written proposal you have a chance to remind him of what his issues are, what the cost of not addressing those issues is, why he needs to get serious about addressing the issues now and why he should select you.

This is not a duplicate visit of the first meeting.

This meeting is a chance to reinvigorate, regenerate, re-engineer and revitalise the Buyer and get a signature.

You must walk through the door believing, acting and talking as if you’ve already won the business.

This is a highly assumptive pitch meeting and NOT a fact check.

This is about understanding how to close profitable sales because every Buyer contact is an opportunity to maximise your chances at getting the price you want and the order signed as fast as possible. To do that you must make every single Buyer interaction high value from the Buyer’s perspective. Otherwise you’re just one of the many push sales guys out there who have yet to discover how to close profitable sales with skill and mastery!

What to Tell the Buyer About the Second Meeting

When you book this meeting you must let the Buyer know that you will be returning to confirm the solution, answer any questions and get the order signed.

Get comfortable in using this language; in fact you should use this language.

Be absolutely clear with your language and your intent.

You’ve done all the hard work, this is not the time to be reticent and hang back.

This is the time to be confident.

After all, if the Buyer was going to reject you, he wouldn’t have given you all the information you need to generate a proposal.

Plus, being clear, succinct and direct when you book the second meeting, then everyone knows what is required of them at the next stage.

If you have the deal, the Buyer will easily agree to this request.

If you haven’t got the deal, and the Buyer, doesn’t want to tell you directly, then (if they are like many Buyers) they will decline or possibly accept then send you an email to cancel the second meeting. That’s how cowards behave.

The conversation might go something like this…

I’ll prepare the proposal based on my research to date and our conversations, specifically considering your challenges, timescales and budgets, so our next meeting can focus on moving forward, getting the order signed and what happens when we start supplying you. Is that ok with you?

Should it scare the buyer?

Not really.

What it should do is to focus the Buyer’s mind.

You need the Buyer to understand that you are there because you want to do business with him and are serious about working with his firm.

And that’s ok. He should be too.

What Could Possibly Go Wrong?

In learning how to close profitable sales, it’s only to be expected that the Buyer might well push back a little, because he can see what his decision should be, but that doesn’t stop him fighting against it which means he may well end the meeting by asking you to give him time to think.

Here’s what you do:

You ask the following:

  • What is it specifically you need to think about, I’d be happy to help you work it through….
  • Can you give me some insight into what you are thinking, your initial reaction, at this moment?
  • Is it you think that the business/board won’t support you on this?
  • How viable is this proposition?
  • Does it seem viable and reasonable to you?
  • What are the further concerns I need to address?
  • Ok– is next Tuesday or next Thursday better for you, I’ll come in, answer any questions and collect the signed paperwork…

Couple of things you may be thinking here:

Are You Being Pushy?

Maybe.

A little back bone at this stage means that you should know exactly where you stand before you leave the Buyer’s office.

You know whether to spend any time on the proposal because, after all, writing proposals can take up huge amounts of time.

But more importantly the Buyer knows what you expect of him!

You are not just going to let him off the hook…drift off into the sunset and chalk this one up to ‘nice chat’ or ‘maybe sometime’

Especially not after you’ve done a thorough sales investigation, mapped out solutions, shared your expertise and vast experience, presented additional insights he’d not considered as well as help him work through the reality of his challenges and pathways to success….

If you have done your sales investigation and needs matching correctly then you have a right to ask these questions.

If you haven’t done the sales investigation and needs matching correctly then you’re not in a position to ask these questions.

Don’t even try, because you’ll sound like the worst kind of shiny suited wide boy because that just won’t wash with the buyer.

So, How to Close Profitable Sales…

Just remember, hold the line because after you’ve invested all this time and uncovered a viable prospect, and because, it’s just what you must do to maintain credibility (and self respect).

Getting comfortable with being in charge of the sales process, which means getting comfortable with the sign off stage because that’s how you close profitable sales, since it takes practice and backbone, learn to hold the line because it’s worth it.

For ongoing weekly insights into how you can boost sales, drive business development and accelerate your sales growth just hit the link here because it’s the fastest way to work on improving your overall sales skills.

How to Close Profitable Sales is just one blog of our articles – check out more insights into building a solid and stable sales pipeline, accelerating sales growth and closing good quality business, quickly by hopping over to our blog http://www.mortonkylesalesimprovement.com use the search function to find whatever you’re looking for.

You can check out some of our additional Sales Improvement Reports here:

How to Generate High Quality Sales Prospects

10 Steps to Out Sell the Competition

How You Can Increase Profits by Avoiding the Commodity Gap

How to Fill the Diary with High Quality Sales Appointments

How to Recruit the Best Sales Talent into Your Business and Reduce the Costly Risks

How to Close Profitable Sales (c) Morton Kyle Limited

What’s Your Sales Why?…Why Should the Buyer Buy From You?

What’s Your Sales Why?…Why Should the Buyer Buy From You?

What’s Your Sales Why?

Everyone knows sales isn’t just about your product, your service, your money back guarantee etc…it’s about so much more. It’s also about you, the sales person.

Sure people buy from people is a very old cliche, but that doesn’t mean it’s not true.

So my question to you is – what do YOU bring to the party?

And whilst you’re thinking about it, please be very clear that whilst you’re buyer is dealing with you, he’s asking himself – why you?

Whilst it might hurt to accept this, ”Why You?” is a perfectly legitimate responses from your prospect.

And? So what? Who cares? Well?

There’s a few more…legitimate responses that is, to your well crafted sales pitch.

It doesn’t get any easier to hear does it?

But, how do you combat it?

Spend loads of money? Of course, because we’ve all got the marketing budgets of Virgin, Nike and Apple.

Right? Maybe not.

How about network like crazy and talk to as many people as you can? Sure that might work.

Social media? Absolutely, because that’s easy and cheap…(or is it?)

So, we’re back to the question – What’s Your Sales Why?

Why You?

You can have the best message pathways in the world but if your message is wrong, then your message is not going to move the sales needle.

Delivery mechanism matters not one jot because unless you know what your message is, well, what’s the point?

If you don’t know what your point of differentiation is, then there is no point being social about anything.

When you can’t nail absolutely what it is that your prospect wants from you, then forget it.

If you’re going out there saying exactly the same as your competitor, then you might as well walk behind your competitor with a sandwich board saying ‘wot he said’

That’s harsh too.

Simon Sinek is a great advocate of discovering what your WHY is all about.

I think it’s useful.

Very useful.

In fact, I’d say WHY is one of the most powerful words in the business world.

WHY?

(See what I did there?)

Try this.

Any problem, ask why enough times, and be willing to be honest and truthful and you’ll get to the answer.

Now to your business message, you might ask this

Why Should My Clients Buy From Me?

What’s Your Sales Why?

You can come up with any string of answers in response to why.

Here’s the trick, because until you hit on such a response that is totally different and identifiable from that of your competitors AND that has a deep and meaningful impact on your clients, customers and prospects then it’s likely you’ll still be one of a very big crowd.

Why? What Does That Mean?

It means:

  • Depressed sales
  • Reduced charge out rates and prices
  • Low sales conversion
  • Weak profits
  • Sales instability and uncertainty

The truth is this:

If you can’t work out your WHY, how can you expect your customer to?

You can’t. You shouldn’t expect them to.

But many sales people do.

They expect the buyer to join the dots.

Lean how to do it differently.

Discover how to be different and communicate that difference to your buyers because when they GET that about you, your chances of doing business increase –  when they get IT and they get you.

The real reason they should buy from you.

That’s My WHY.

I’m tired of mediocre sales pitches – receiving them, listening to them.

And I’m tired of watching sales people leave money and deals on the table.

When they should be in their pocket, and their bank account!

What’s my why.

That’s why I’ve created the Sales Improvement Workshop

Designed to help you uncover your sales why because it matters

During the day we’ll cover how to build a red hot sales pipeline and keep the sales funnel flowing with great sales leads, as well as how to take a prospect from cold to order with minimum fuss and zero objections:

Plus:

1. How to create your own competitive sales pitch because you won’t get the extraordinary sales results you want if you just sound like everyone else!

2. How to make your sales pitch so compelling that the prospect will think ‘wow, this is a no-brainer, where do I sign?’

3. How to build a sales pipeline full of HOT sales prospects who want to buy from you…

4. How to maximise your prices using three simple techniques…

5. How to maximise your profits and not leave cash on the table…cross selling, up selling and sooooo much more.

6. Discover handfuls of reasons why your buyers should buy from you rather than your competitors, and how to communicate your sales why’s with conviction and confidence, because that way,  no-one will ever need to ask you what’s you sales why is ever gain because they’ll just know!

Be great to see you discover your WHY…just hit the link above and book your seat…

Best

Carol

carol@mortonkyle.com

0779 002 1885

P.S. For an online sales program for you to follow in between your busy week hit the link TurboCharged Sales

What’s Your Sales Why? This could be the most important question you ever ask yourself in your quest to become a high performance sales professional because if you don’t know, don’t expect anyone else to.

Fixed Price Sales Training | B2B Sales Training Courses

Fixed Price Sales Training | B2B Sales Training Courses

Fixed Price Sales Training Courses | B2B | Book Now

Fixed Price  Sales Training – B2B Sales Training Courses – Train up to 12 sales people for just £1,250

Book your date ASAP….and get next month off to a great sales start…because that’s how quickly you’ll see improvements if you use the sales skills, techniques and insights you’ll learn during the course.

Did you know that according to CSOInsights, 54% of sales professionals will NOT hit their sales targets this year.

54%.

How many of your sales team won’t hit their targets?

More than 54%? Less than that?

What’s the Gap Costing You?

I’m talking about the gap between what sales revenues your sales sales team should be hitting and where your sales guys are currently landing.

That Gap…what’s it costing you?

What’s it cost you in the last three years?

What’s it going to cost you in the next three years if you don’t do something about it?

Either way…it’s costing you something.

The Fixed Price B2B Sales Training Course will help you close that gap. Stop the sales leaks and give you a solid sales pipeline BECAUSE, here’s how I look at it.

If 54% of your sales team aren’t hitting target it means that you should be able to double your sales output without increasing your overheads, headcount or wage bill

The Fixed Price Sales Training Course – Selling Vs Buying – B2B Sales Training Courses

The fact of the matter is that sales is a fluid industry, and buyers are now setting the sales agenda in a far bigger way than every before.

That can seriously damage and challenge some sales people…hence the reason why more sales people typically fail to hit sales target than actually hit it.

Over the last 4 years I’ve been studying key reasons for failure or under performance in the sales team, here’s what I’ve found.

Sales people/teams tend to fail to hit their sales targets for a handful of key reasons:

  • Inability or poor attention given to filling the sales funnel with high quality profiled sales leads in the correct quantity
  • Failing to ask the right questions, in the right format, at the right time to allow them to close sooner, with higher prices and a higher level of buyer urgency
  • Leaving the buyer confused at the end of the sales presentation due to inability to close, or reticence around closing
  • Confusing the sales process with a free information and advice service
  • Treating all prospects as being of equal value – failing to qualify leads properly
  • Letting the sales process develop without digging for, exposing and dealing with explicit and implicit objections
  • Being scared of price.
  • Poor sales follow up process…80% of sales will require at least 12 chase stages…
  • Inability to create clear blue sky between their offering and that of the competitor

This course is designed specifically to address all of these issues.

The B2B sales and business development training covers all of the key elements associated with:
  • Filling the Sales Diary because every empty selling slot is forever lost
  • Keeping the Sales Funnel Flowing because a slow and congested sales funnel costs money
  • Efficient and Effective Sales Presentations because being able to influence, persuade, entertain and educate takes skill
  • Smart Sales Closing because working hard and not getting the business is just a crime.
  • Increasing Sales Conversions because success is addictive
  • Boosting Prices because being the cheapest is just a race to the bottom
  • Minimising Objections because the best sales pitches have zero buyer resistance
  • Creating Ongoing Sales and Business Development Leads because that’s just plain SMART!
  • Generating Cross Sales, Up Sales and Referrals …every time, because your competitors won’t be doing this
  • Building a Strong Sales Pipeline – Quality and Quantity because that’s how you build a scaleable sales function
Hitting Your Key Sales Drivers

Don’t think this is some out the box course, your fixed price sales training package will focus on your key sales drivers, prior to the course, we explore your key sales issues, so you know the training focus is geared to have the maximum positive impact.

These could be anything from losing business to competitors, relying to heavily on discounts, lack of loyalty with your customers or any other sales and business development issue, or combination of issues.

Your fixed price sales training package has you covered.

If it’s affecting your sales results, your profitability and your business performance then we obviously need to do something about it.

The Fixed Price Sales Training course runs from 9 am to 5 pm on your site and is:

  • High Impact
  • Practical
  • Full to bursting with proven sales improvement techniques you can use IMMEDIATELY
  • Focused on getting the highest possible ROI back into your business as fast as possible
  • Maximising conversion rates, profits, market wins and time

To discuss your specific sales issues and how the Fixed Price Sales Training course can help you – email carol@mortonkyle.com or call 0779 002 1885

www.mortonkyle.com

Feedback from recent attendees be found in the ‘Client’s View’ section which you’ll find at the top of the page.

For all your internal B2B Sales Training Courses you can also register to receive your free copy of The Advanced Business Achiever , it’s delivered weekly, totally free to your inbox and covers Sales and Business Development Insights to help you boost and improve your sales performance, it’s great for using in the sales meeting, board meetings and generally as part of ‘staying up to date with the world of sales’…Just hit the link The Advanced Business Achieve

*Expenses will be charged at cost for delivery over 30 miles of S1

Book your fixed price B2B Sales Training Courses today and see what your sales team is REALLY capable of.

Sales Pipeline Management: Do Not Resuscitate

Sales Pipeline Management: Do Not Resuscitate

Sales Pipeline Management: Your Sales Crystal Ball

Sales Pipeline Management is the key to predictable and stable sales performance.

That means sales growth, sales security, certainty and the ability for any business to produce accurate sales forecasts.

So today, whether you’re a sales leader or a sales person, let’s think about your sales pipeline.

How do I know?

Because proactive sales pipeline management is a daily task. For sales professionals their sales pipeline is their true north.

The sales pipeline feeds the sales forecast…so managing the sales pipeline is a high priority task.

The sales pipeline is the holy grail of sales crystal balls.

Your’s isn’t?

It should be.

Sales Pipeline Management Facts

The profile of a typical sales pipeline will show you it’s a mixed bag; for example.

  • You’ll have some great prospects in your sales pipeline
  • Some rubbish in there
  • You will have new leads in there
  • You’ll have some very old leads in there
  • Some entries in your sales pipeline will be ready to close, some just in the process of being opened up
  • Other records will offer you huge sales rewards and some will barely cover the sales acquisition costs
  • Some you’ll love dealing with, some you’ll want to shoot
  • Others won’t know what they want, some will know exactly what they want but can’t afford it
  • Some will be liars, some will be chancers and some will be using you to get a better price to beat your competitor with
  • Occassionally, youll find those who will enjoy your hospitality with no intention of buying from you
  • Some will have told their team to always say they’re in a meeting when you call
  • Often there will be others who will always see you to chat…picking your brains for free is part of the deal…right?
  • Some will think they know best, yet continue to fail, they want to do it the hard way first

Just a fragment of what you might find in a typical sales pipeline…the good, the bad and the ugly is just a cliche, so how about the prospect, the chancer, and the waster?

 

Key reminder: if you’re like most sales teams your sales pipeline is 90% rubble and 10% gold.

 

Sales Pipeline Management: Think Again

I’m not jesting when I tell you that your sales pipeline should be your Holy Grail. It REALLY is your sales crystal ball if only you’d let it be.

No-more guessing. No more getting half way through the month and realising the sales target is just not going to happen this month.

No. A great, well managed, quality based sales pipeline gives you and your business all the sales intel they need to remove risk and to provide the basis for a health sales result at the end of every month.

Plus, it’s a great start for a replicable sales and business development team…but that’s an aside.

Today

Today, when you look at your sales pipeline, think about this:

Think about getting rid of all the dead beat prospects, all the prospects that are just taking up space, the ones that your eyes fly over without registering any more, the prospects that give you hell and always want something for nothing, the prospects that take forever to pay, the firms that only use you when your competitors have put their account on stop.

Say no to continually calling those prospects that don’t respond to calls, ignore emails, tell you time and time again that they’re the decision maker when you suspect they’re not.

Reposition those prospects that have said yes 10 times and never sent the order, say goodbye to the prospects who give you grief or just call you in to batter you on price with threats to go to your competitor.

Make today the day you say ENOUGH!

DO NOT RESUSCITATE

Your time is precious because you can earn whatever you want when ever you want. If only you can manage your time.

A poorly managed sales pipeline is a killer.

Undiscerning sales pipeline management will definitely diminish your ability to close business effectively and efficiently.

Poor sales pipeline management will also compromise the quality of the sales you close.

Instead of carting around 600 questionable sales prospects (for example) be very cute and very commercially attuned to where you’re spending your time (and therefore your money) and clean out all the gunk because all those prospects that you’ve been nesting in the hope they’ll somehow wake up to the value you could deliver, probably won’t!

Give Up On Being A Sales Stalker

Surrender the wasters to the universe…at best your competitors will pick them up and get mired in the prospect’s maybe promises.

At worst, you’ll have set yourself free. Free to concentrate your fabulous skills, efforts, talents, time and money on prospects that are worthy of that investment.

So with pride, with head held high, and a huge sense of relief and rebirth slap those DNR stickers all over the prospects that are clueless, spineless, not interested, not worthy and just stuck.

Instead, march forward with the brave, the enlightened and the glorious because that’s what you deserve!

Your sales pipeline is your key to sales glory, endless commission and a genuine joy of doing a great sales job…and your discerning sales pipeline management skills are crucial to you achieving this.

Ditch The Losers!

You owe it to yourself.

Fly higher and devote time to the prospects that have the potential, insight, budget and mindset to work with you.

Don’t compromise on the quality of your sales prospects or the quality based criteria in your sales pipeline.

Your sales pipeline management could be all that stands between you and huge sales success.

Happy Selling

For further insights on sales pipeline management as well as information on how you can boost sales and super charge your business development efforts for free – hit the link – The Advanced Business Achiever

If you want to know how to fill your sales funnel and sales pipeline with high quality sales leads – check this out Leads ++

And if you want to discretely discuss sales improvement in your business – contact me, Carol on 0779 002 1885 or carol@mortonkyle.com

You can also check out the blog for articles on improving sales performance, building replicable and scaleable sales and business development systems as well as sales pipeline management, but act fast, because this is the fastest easiest way to boost sales performance – Morton Kyle Sales Improvement

For further insights into sales pipeline management, sales funnel creation and creating accurate sales forecasts – check this out – tell me more

You can also check out the Morton Kyle Sales Audit for a super fast insight into the real reasons you’re not getting the sales results you want, need and deserve.

Here are some of our most recent sales improvement reports – all free, instant downloads

How to Generate High Quality Sales Prospects

10 Steps to Out Sell the Competition

How You Can Increase Profits by Avoiding the Commodity Gap

Fill the Diary with High Quality Sales Appointments

How to Recruit the Best Sales Talent into Your Business and Reduce the Costly Risks

 

 

 

Sales Pipeline or Sales Plug Hole?

Sales Pipeline or Sales Plug Hole?

10 Ways to Get the Most From Your Sales Pipeline

Sales Pipeline Abuse!

Let start off by explaining what a sales pipeline is, it is:

Your pay check for the next 12 months and beyond.

The difference between you going on holiday or having to explain to the family why it’s another staycation.

Choices and options –  do you spend your birthday in NYC or Rotherham…

You see where I’m going with this don’t you?

Why?

Do you treat your sales pipeline so shoddily when it’s so important?

Fill it full of half-baked, second rate, tyre kickers?

So many that the good, healthy, profit generating sales prospects either get lost totally or struggle to get the attention they deserve in order to prosper.

It’s because of this one single thing…

Being busy is more important that being effective…chasing a lead is chasing a lead, whether it’s a waste of time /effort or not…

Disagree with me?

Great…it means you know better.

So, this is NOT about time management, it is about how you manage your sales pipeline.

What is a Sales Pipeline – REALLY?

Some firms will map their sales pipeline so that it matches the buying process of their buyers.

Some firms have their own loosely structured sales pipeline.

So, to generalise between those two extremes, you can think about your sales pipeline as your sales forecast in motion.

The sales pipeline can represent a series of stages in the sales and buying process.

At the top of the sales pipeline the sales prospects are relatively unqualified…the nearer those sales prospects move to the end of the sales process the more details become attached and the higher the level of qualification as the discussions turn from possible sales to discussing prices and potential delivery dates.

You can see how it works.

Some firms will attach very specific qualifying criteria to each stage in the sales pipeline. Other firms are much more fluid around what happens at each stage.

In the former, you’ll see prospects held back in the sales pipeline until the sales person can qualify certain information – it may be around budget, sign off date, understanding/mapping the buyer process, meeting the key decision maker or some other business critical insight

Sales Pipeline – Understand This!

A sales pipeline is a flowing source of information.

It’s organic.

It moves often, maybe daily, maybe several times daily, weekly, monthly, depending on your sales cycle duration, order value and sector.

Either way, the crux is, it moves.

It doesn’t bulge out of control…at every one of the sales stages – there is a chance to decide if you keep that sales prospect in the sales pipeline and progress them to the next stage or if you ditch the prospect or simply take them back to a previous stage in light of new information.

Your sales pipeline directs all your daily activity.

Not enough sales prospects in your sales pipeline due to drop at a certain stage? Better get on with topping up the sales funnel then.

To many sales leads dropping out? Maybe need to tighten up the sales qualification criteria at the start of the sales process.

Sales prospects dropping out due to one factor? Maybe need to look at how expectations are being managed earlier on in the process.

Inaccurate sales forecast? Maybe a tighter sales pipeline with more specific criteria.

Your sales pipeline and the sales forecast it creates is vital to your business…it’s the resource planning, funding, operational blue print, so accuracy, management, maintenance are all vital.

So…

To Get the Best From Your Sales Pipeline:
  1. Refer to your sales pipeline daily to direct you most urgent sales activities, your sales pipeline should direct your day, what do you need to create today? More appointments? More quotes? Are you chasing existing clients today or closing deals? What’s your activity? Your sales pipeline will show you.
  2. Don’t be afraid to push for the information you need at all stages in the sales process…a serious buyer will be happy to answer your questions as best they can….or tell you why they can’t.
  3. Pension sales prospects off if they have stagnated for unexplained reasons i.e. the prospect has stopped returning calls/responding to emails…don’t be a sales stalker.
  4. Understand the difference between being busy and being effective, some business will never be worth chasing.
  5. Allocate your resources carefully to protect yourself and your resources – beware of prospects just wanting a price, or those who are just at the ‘thinking about it stage’ and seem happy to stay there…
  6. Check the next stage in the buyers mind to ensure you’re always on the same journey, together and with the same map…otherwise you’re not partners in the process as you’ve different understanding of the situation
  7. Make sure you’ve done a very thorough fact find and be mindful that facts can change, i.e. another referrer/influencer needs to be convinced, the late entry of a competitor, a change in budget, change of delivery date…keep checking the important questions
  8. Credit check the sales prospects in your sales pipeline…you may check then at the beginning, but you should be checking them periodically though the sales process too…you don’t want to get to order sign off stage and find the prospect lacks credit worthiness.
  9. Be scrupulously honest with yourself when you’re working your sales pipeline…don’t delude yourself…if things in your sales pipeline look shaky then the sooner you take remedial action, let someone know and get additional support, the greater your chances of success…head in the sand is not a good tactic for remaining successful in sales…
  10. Neither is relying on blind luck…the great thing about an active sales forecast is it lets you work out what your very own sales recipe is. How many cold calls:meetings:quotes:orders do you need to hit your target? Once you know this you know everything you need to know to optimise your sales earnings…learn what this recipe/formula is for you ASAP and work on the leaks continually…
The truth is – your sales pipeline is either a major asset or a wasted money making opportunity…which is it?

Also, consider this, rejecting or ejecting unworthy sales prospects early on saves a mountain of time, money, resource…because dragging an unwilling and unqualified prospect through to the sales close at which point they reject your proposal is dangerous and it’s a money pit with no end in sight…actual costs plus opportunity costs all start to mount up.

Be diligent about the sales leads you progress early on. It may cost thousands to get a sales prospect to the end of the sales process, if the chances of conversion are low, ensure you qualify hard at the start of the sales process.

Look out for a new blog on sales conversion rates tomorrow.

In the meantime, here are a selection of free guides to help you create a robust sales pipeline. They’ll  help you create a profit generating sales funnel – free instant download – just hit the link.

How to Generate High Quality, High Converting Telephone Sales Appointments

Only Dead Fish Go With the Flow

10 Steps to Out Sell the Competition

20 Ways to Price Like a Pro! – Creating Hungry Sales Prospects

Just hit the links above and the reports are available for instant download

Happy Selling

Carol

carol@mortonkyle.com

0779 002 1885

p.s. For free weekly insights into what’s new in sales, business development and profit creation – sign up to the Advanced Business Achiever – it’s free.

Looking for an online sales training course you can use internally to build you very own sales pipeline? Check out TurboCharged Sales 

Sales Training Courses – Monthly – Sheffield

Sales Training Courses – Monthly – Sheffield

Sales Training – Monthly – Sheffield…for you if you’ve ever wondered how high performance sales teams get the sales results they do…

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