Tweet

Keep Your Pipeline Full!

Written by: Kendra Lee

Article Overview: It’s not uncommon to lose focus on your pipeline – or funnel – and consistently filling it with new opportunities. Reps often spend too much time on a few opportunities that are on the verge of closing at the bottom of the funnel, and don’t seek out new leads to fill the funnel.

Keep Your Pipeline Full!

It’s not uncommon to lose focus on your pipeline – or funnel – and consistently filling it with new opportunities. Reps often spend too much time on a few opportunities that are on the verge of closing at the bottom of the funnel, and don’t seek out new leads to fill the funnel. This creates a roller coaster ride in terms of performance and results in the eyes of a sales manager, and commissions in the pockets of a rep. Without enough opportunities, a rep runs the risk of missing their quota and their commissions.

The key rule for determining if you have enough opportunity to achieve your quota is to measure the size of your pipeline. Successful sales reps maintain a minimum of 3 times their quota in their pipeline at all times. For example, a $100,000 per month sales quota should mean you maintain a pipeline value of $300,000 per month.

Combined with a disciplined sales process and consistent prospecting, a pipeline 3 times your quota will ensure a continuous flow of new leads and new opportunities closing.

So how do successful sales reps do it? Follows are responses based on a recent question I posed to top sales reps and managers regarding how they maintain a healthy pipeline.

Disciplined Sales process
Focus on the follow-up process. Most sales reps make the initial contact and close the easy deals. What distinguishes the top reps from the rest are those who follow-up when the appointment isn’t immediate.

I think an open mind in the sales process is key – really listening to the customer and their struggles and customizing a solution for them based on their needs.

Don’t lose site of the smaller sales. The problem with reps today is they lose sight of their customers that give them smaller sales throughout the year. They get lost in the shuffle of larger sales (since we love those big elephants). It's the small sale that gets us through those rough periods. While this is elementary, it is difficult to keep track when you have over 300 companies you deal with year round.

Be memorable. Make a hard commitment in each discussion for the next deliverable and meet it. Personally, I set most immediate action items to be done within 24 hours and deliver on it every time. Both the need and impression left are still active in the prospect’s mind. Delivering on the next step quickly makes a difference and sets an impression.

Consistent Prospecting

I think that discipline at the beginning of the sales cycle is key – cold calls, prospecting, networking, and reading. All of that requires discipline, motivation and enthusiasm.

Ask for referrals. Set a goal for yourself to secure a specific number of referrals each month. Dig deeper and penetrate your customer base.

Look for alternative contacts who can serve as inside coaches for you and connect with them quarterly. For instance, as a woman owned business, KLA is a certified diverse supplier. Supplier diversity staff are focused on increasing the amount of business their companies do with diverse suppliers. They are inside excellent coaches for new contacts and budgets.

Watch and read the news so you can use new ideas as a way to get attention. Get creative information to approach prospects and customers with a new idea.

Set weekly objectives for the number of new referrals, prospects, meetings, and proposals. New lead generation matters. Existing customers are critical but don’t lose focus on a weekly objective of meeting new qualified leads. They represent the future.

How closely do these tips align with your strategies? Visit the resources section of our website to download our PowerProspecting Sales Kit including e-tools to help you excel at prospecting.

Related Articles
  Filling the Sales Pipeline Whos to Blame
  The Sales Pipeline
  Improve Sales Performance with More Effective Pipeline Management
  Assessing and Building Your Leadership Pipeline
  Why You Should be Scared When Your Salespeople are Closing Lots of Business

Article Tags: appointment, commissions, continuous flow, elephants, larger sales, new leads, new opportunities, periods, pipeline, pockets, risk, roller coaster ride, sales quota, sales reps, shuffle, successful sales, verge



Related Forum Posts
2007 Goals - 1. Web site complete, fully operational 2. Revenue stream from both individual and corporate 3. Business Plan complete 4. Full marketing strategy complete and implemented
Re: How To Post A Forum Topic That Gets Responses - Great suggestions... I like this one especially: "Start a Debate - pick a more controversial topic or one that you think people will have strong opinions about - state the case for two sides of the arguement and let your readers go at it. Eg: Video on a DSLR - Would You Use It? and Full or Partial RSS Feeds?" I also like to mix up the topics even if it moves a little bit outside the focus of the forum. It keeps things interesting.
Re: How To Post A Forum Topic That Gets Responses - [quote="barrysarner":kj6e4dqh]Great suggestions... I like this one especially: "Start a Debate - pick a more controversial topic or one that you think people will have strong opinions about - state the case for two sides of the arguement and let your readers go at it. Eg: Video on a DSLR - Would You Use It? and Full or Partial RSS Feeds?" I also like to mix up the topics even if it moves a little bit outside the focus of the forum. It keeps things interesting.[/quote:kj6e4dqh] Hi Barry Generally when a topic has a lot of discussion and debate the subject will move outside the focus of the topic, don't know if you have noticed but this just seems to happen quite naturally. Thanks for bumping this thread up again, it is a good one. MichelleJ
Global Ad Agency Seeks Senior Sales Account Executive - Global Ad Agency -- We are seeking experienced advertising Senior Sales Account Executives to join our growing sales force in New York office. ICMediaDirect.com, Inc is a Full Service Online Advertising Agency driven by a united goal to provide both online as well as offline advertisers with easy and affordable ways to plan and buy media online. We are proud to present an impressive roster of over 300 satisfied clients and a wide reach of billions of visitors each month. With two great locations - N.Y. and D.C. - we know how to PLAN your media, how to BUY your media, how to TRACK your media and how to CAPITALIZE your media. Qualifications • Minimum 2 years of active ONLINE advertising sales experience • Responsible and aggressive attitude • Successful track record with ONLINE sales • Understanding Internet advertising vehicles such as pops, banners, search and lead generation is required • Excellent communication and presentation skills • Strong computer skills are required • Detail oriented and well-organized • Ability to work independently • Enthusiastic team player The Best office location in the city! Competitive salary (plus commission), bonuses and benefits. Please send your resume with salary expectations today at jobs@icmediadirect.com!
The Power of Ten - Do you want to save money and time? Make the most of your marketing efforts? The Power of Ten™ is about taking the concepts of repurposing and leveraging “to the max”. It allows you to innovate and discover new possibilities for any marketing you already have in place. Here’s how it works: Make a list of the most recent 10 marketing items you’ve created or paid to have created. If you don’t have any materials, you can simply list the pieces you plan on creating. Now pick one. It could be an article, ad, poster, anything you have used recently as a marketing tool. Take a fresh look at it. Brainstorm and free write until you find at least 10 different ways to use that piece. You can do this with as many pieces as you want, but for now start with just one. It’s amazing how much time, effort and money you can save using The Power of Ten™. Below is an example using The Power of Ten™ with this very article. Even a very short piece, such as this, can benefit from The Power of Ten™. Here are some ways I can use this tip: 1) It’s part of a new marketing program I’m creating that may be called Marketing Full Circle. 2) It’s on my blog. 3) I can tweet it (knowing that it will show up on LinkedIn and many other sites which display tweets). 4) I can go over to LinkedIn and post it to a group. 5) I can it to my ezine subscribers. 6) I will send it to my clients. 7) If it is a longer article, I can try submitting it to an Article Bank, or two, or three. It started out as part of an answer on Focus.com 9) Eventually it will be part of an eBook on marketing tips. 10) I mention the concept often at speaking engagements. (c)2010 Elevating Your Business What would you add to the list? How about your own? Give it a try and comment below.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Tips for the Novice Traveler

Soda Vending Machine = Energy Hog

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.