A strong sales pipeline is critical to your team’s success. Through this pipeline, sales reps can get a quick glimpse of who they should reach out to, what meetings they need to schedule, how close they are to reaching their sales quota, and so much more. If your sales team has not been closing most of the leads they receive, you could be dealing with an issue with your sales pipeline.
In this issue of Promotional Consultant Today, we share insight from sales expert Myra Sugg on what can lead to sales pipeline blockage and how you can resolve these issues.
Reason No. 1: Low-quality leads. One reason your sales may have slowed is because your sales pipeline is clogged with poor-quality leads. Sugg recommends conducting a thorough review of your current metrics for determining which leads enter your pipeline. You should also be sure your sales and marketing teams are on the same page to avoid blocking your pipeline with irrelevant leads.
Reason No. 2: Lack of lead nurturing. Remember that every prospect needs nurturing, regardless of where they are in the sales funnel. Sugg says that mid-funnel assets need to be engaging to ensure leads pass through without falling off or stalling. Examine performance metrics for each stage of your funnel and look for ways to provide super-personalized content. Change the style and focus of the content if prospects are not engaging as much as you would like, advises Sugg.
Reason No. 3: No funnel exit points. While this reason may seem counterintuitive, it’s important to allow low-quality leads a chance to filter themselves out. You can give prospects a way out by inviting them to share their feedback. Sugg suggests creating occasional prospect quality reviews to filter out prospects who are not interested in your products or services.
Reason No. 4: Low patience with prospects. Your sales reps may be inadvertently sabotaging themselves by not allowing prospects to move at their own pace. Stay patient and nurture prospects until they decide the time is right to buy. Sugg encourages sales professionals to focus on their most promising prospects and keep delivering value.
Reason No. 5: Lack of reactivation loops. Your sales pipeline may have slowed because you have prospects that have gone silent for some reason. With a reactivation campaign, your sales reps can check in and see if prospects should stay in the pipeline or move on out to allow serious leads more room. Remember that the more expensive your offering, the more time your prospects may sometimes need to decide, notes Sugg. So, take a look at prior sales data to determine how much time is reasonable.
Reason No. 6: A hesitation to try new things. If you find success in one channel or method, you may want to stick with it. However, the sales landscape is changing fast. To unclog your sales pipeline, you might need to try some new tactics and platforms. Sugg recommends combining the insights you get from each platform to narrow what your prospects engage with the most.
Reason No. 7: Outdated personal data. Your sales pipeline could be blocked with confusing prospects that encompass multiple personas. You can bring your data up to speed using surveys and interviews, says Sugg. For example, try surveying your existing clients about a product feature and ask them to note how important this feature is to them.
It’s important to carefully manage your sales leads. If your sales pipeline is clogged with too many leads or those who are not serious buyers, you can help restore flow by following the tips above.
Compiled by Audrey Sellers
Source: Myra Sugg is a sales expert and contributing writer for the Sales Hacker blog.