The sales and marketing pipeline ought to offer a clear window into the health of every organisation’s revenue generation process. Why then is the view so often obscured, and the apparent value of the pipeline so far divorced from reality? The most common problems are associated with imprecise stage definitions, poor data quality and the failure to measure the appropriate metrics.
No pipeline can give an accurate picture without crystal-clear, universally adopted stage definitions and milestones. But rather than tracking sales activities your sales pipeline should instead reflect the key stages in the Buyers’ Journey and be based on observable evidence of where each prospect is in their buying decision process.
Poor data quality - in the form of incomplete or inaccurate records - is a particular pipeline management challenge, and another area where clear standards need to be established, monitored and enforced. Regular pipeline data quality audits can help, as can clear goals for progressively improving the completeness and accuracy of pipeline records.
Last, but not least, conversation rates from stage to stage and sales velocity (the time taken to move through each stage) must be carefully monitored. Sales velocity is a particularly important indicator. Recent research by the TAS Group has confirmed what many sales managers understand instinctively: that the longer an opportunity remains stuck in stage, the less likely it is to close.
What sets us apart?
We help clients establish crystal-clear pipeline stage definitions and milestones that accurately reflect your prospects’ typical buying decision process, together with clear data quality standards and insightful metrics that enable managers to quickly and accurately diagnose the true health of their pipeline.
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If you would like to find out how we could help you to improve the quality of your pipeline management, please contact us here or call us on +44 118 975 0595. Or you’re not yet ready to have a conversation, we encourage you to stay in touch by subscribing to our blog.