The Importance of Pipeline Management

Pipeline management is a must for businesses to ensure that deals are moving forward in their efforts to convert potential clients into customers. If a pipeline isn’t handled effectively, prospects could get stuck in one stage for an extended amount of time, making it hard to meet sales quotas as well as revenue targets.

In terms of business, pipelines are similar to supply chains in that they contain the products you are selling, but instead of goods going from the manufacturing process to the delivery point, your sales pipeline contains leads that eventually will become customers. In order to keep your pipeline healthy, it’s essential that you keep track of and analyze the appropriate metrics to achieve the success.

To ensure that your pipeline is operating to its fullest capacity it is essential to first determine and outline the stages. This will allow your team to monitor each prospect’s progress and determine which of these stages are experiencing issues or unable to handle the workload.

Pipeline management is also dependent on a well-defined sales process that your team follows. Establishing a routine will ensure that important sales activities like follow-ups and relationship building aren’t overlooked and aids your team in achieving their sales quotas, growth targets and profits goals.

Close is an application that can be used to keep track of contact information as well as sales activity metrics. This allows your sales team to remain organized, and also allows other departments to access the information.