In order to measure the efficiency and effectivity of our sales process, a thorough analysis must be conducted in every stage of the sales pipeline.
But what is sales pipeline anyway?
A sales pipeline, as defined by sales management tool Pipedrive, is a visual and systematic approach to selling a product or service. Used mainly by companies that rely on a sales team or sales channel to drive revenue growth, this tactic allows a business to know where all their resources, deals, and sales efforts are at all the time.
For small businesses, effective sales pipeline management can provide a holistic view of the entire sales process, allowing them to evaluate and optimize each step, and as such, increasing the chance of the business to achieve higher revenue.
That said, many sales organizations fail to effectively manage their pipelines. According to HubSpot, only 46% of reps feel they have an accurate pipeline, though most of them spend an average of 2 hours and 30 mins per week creating sales forecast based on inaccurate sales pipeline stages.
Improve your sales performance today and follow these 8 simple yet actionable tips to optimize your sales pipeline for better results and efficiency.
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