Sales Funnel & Pipeline Management

We can utilise the principles of the sales funnel to help us prioritise our activies. How much time do we spend this month on Prospecting for new busines, or should we be focusing on closing deals, or researching new data for lead generation?

Many sales people suffer peaks and troughs whereby they have good months because they are closing deals, but then they are neglecting the new business or lead generation activities so the following months they have a poor result.

Analysing our sales funnel helps us to figure out what we should be focusing on.

    Ensure consistent sales revenues / commissions, avoid bad months

    Manage how much time needs to be spent on different prospect levels

    Prioritize activities to ensure enough leads are coming through to closing

    Use the sales funnel principle to set priorities and manage time effectively

Every company has a different typical process which the prospect goes through during the sale. This is an example sales funnel to help you build your own;

The Closing Ratio Calculation Determines Need For Lead Generation.

For Example:

If you need £100,000 in sales in a given period and;

You close 25% of business which is qualified in the sales funnel

You require 400,000 in qualified forecasted prospects!