OK, so how’s your pipeline? It’s a question that every sales rep encounters on a regular basis, whether they’re uttering that question to themselves during a moment of self-reflection or they’re hearing it from their manager.
Having a healthy pipeline is essential to any successful sales strategy. But just how well is your team nurturing a pipeline of potential sales prospects that eventually turn into clients? Good? Not so good? Either way, it can always be better.
Check out these 3 tips for building a sales pipeline that won’t make you dread hearing the question, “How’s your pipeline?”
- Get some referrals. When was the last time you asked a client for a referral? Too uncomfortable of a prospect? Maybe it’s time to get over it. According to sales expert Mark Hunter, it’s important to devote a portion of your day to blitzing your customers. Send emails or make phone calls to find out what they think of your services and products. If they really like their experience, ask for a referral. If they don’t, consider it a lesson in how your company can do better. Ask for that invaluable feedback.
- Become more active on social networks. Use LinkedIn and other social media platforms to start conversations and develop professional relationships. Don’t use them to immediately jump into sales mode. If you have expertise in a certain area that others may not be familiar with, share your insights in blogs or share relevant news. Give your followers and connections a reason to trust you.
- Revisit those old leads. Do you have a list of leads that just didn’t pan out? It’s time to do an assessment. Check the list again. How many did you attempt to call more than one or two times? If that’s the case, you may have given up too quickly. Some of those prospects you’re considering lukewarm could actually be great additions to your current pipeline.
According to a study by the Marketing Donut, 80 percent of sales require 5 follow-up calls. If you gave up before than, you may have thrown in the towel too early. Check back with those connections. Here are a couple more statistics to consider from Marketing Donut: 63 percent of people who asked for more information from your company will not purchase for at least three months. And 20 percent will take a year or more to purchase. Keep that in mind before you abandon some of your leads.
With MonsterConnect, you can streamline your sales prospecting services. We offer a sales prospecting enablement tool that helps your sales reps engage more quickly with the key decision-makers in their pipelines. Contact us to find out how we can use it to help you gain a competitive advantage.