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How to Create A Sales Pipeline

October 15th, 2009 | Increasing Sales

http://www.purchase.com/blog/increasesales/howtocreateasalespipeline

I!"e been teaching someone on our team recentl# about how a sales pipeline wor$s %an& so I thought I!& summari'e m# sales approach here (or #ou )I!"e use& this (or straightup sales as well as (or partner sales*.

+ote: I!m going to re(er to the part# I!m selling to as a customer- but it coul& easil# be apartner in the case o( partnership sales.

here are an# number o( sales pipeline stages #ou can use: I!m going to use ea&s, 10Opportunities, 50 Opportunities, 90 Opportunities an& lose& on/ost. I (irsta&opte& this metho&olog# when I began using Sales(orce.com which mappe& well to howm# min& wor$s.

Stage 1: Leads

3irst #ou ha"e to get lea&s in the &oor. hat is a lea&4

lea& is a potential customer at its earliest stage.

Some people call this a sales prospect.- So, what is a prospect an& what!s the &i((erencebetween lea& an& prospect4

I thin$ using either lea&- or prospect- is (ine, though in sales I ten& to pre(er to use lea&to &e(ine m# earliest stage potential customer. I then use prospect more as a "erb as whatI ha"e to &o to (in& lea&s )e.g. when I rea& about a potential customer in the newspaper oron a eb site I am prospecting.-*.

3or e6ample, here are the criteria I use& (or 7uali(#ing sales lea&s )7uali(#ing lea&s ma#be 7uite &i((erent base& on what in&ustr# #ou are in*:

I ha"e their (irst an& last name I ha"e their compan# name

I ha"e a 7uantit# metric helping me to un&erstan& that the# ha"e enough "alue to

merit me wor$ing (or them )e6amples o( a 7uantit# metric might inclu&e thenumber o( emplo#ees the# ha"e, the amount o( re"enue the# generate or theireb site!s tra((ic ran$ing*.
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I ha"e a 7ualit# metric helping me un&erstan& i( the# are the t#pe o( lea& I!m

loo$ing (or )e6amples inclu&e: the "ertical mar$et the# are in or the title o( thein&i"i&ual*

8rospecting sales lea&s is a (ulltime ob. here are two main t#pes o( lea&s:

1* Inboun& ea&s

o generate inboun& lea&s, #ou can simpl# run a&"ertisements )lea"ing #our phonenumber, email or eb site in(ormation* or it ma# be as simple as #ou ha"e a eb sitewith a ontact s- lin$ that lea&s to a sales lea& (orm )which o( course woul& as$ (orthe t#pe o( in(ormation )such as their si'e, t#pe o( business, etc.* that helps #ou &e(inewhether someone is a goo& lea&.

2* Outboun& ea&s

Outboun& lea& generation consists primaril# o( ha"ing an outboun& mar$eting programor outboun& sales )such as outboun& telesales*. he point is that generating outboun&lea&s consists o( proacti"el# ma$ing a &a# to &a# e((ort to (in& lea&s.

he ne6t stage a(ter 7uali(#ing a lea& is turning it into what I call an opportunit#.- I ha"ethree stages o( opportunities: 10, 50 an& 90 % let me e6plain each.

Stage 2: Opportunity (10%) (e !a"e #onne#ted wit! t!e rig!t people at t!e rig!t

$usiness)

I &e(ine a 10 Opportunit# as ha"ing the (ollowing 7uali(ications:

I ha"e ma&e contact with them

I ha"e con(irme& that the 7uantit# is there (or m# t#pe o( customer )(or e6ample,

the# ha"e a top 1,000 eb site i( I!m loo$ing to sell to the largest eb sites in theworl&*.

I ha"e con(irme& a 7ualit# metric such as the# are in a "ertical mar$et that has

wor$e& (or me in the past or another e6ample is that the person I!m tal$ing to isthe proper &ecisionma$er (or closing a &eal with me*.

3inall#, an& this soun&s ob"ious, but I &e(ine a 10 Opportunit# as one that has a

1 in 10 chance o( closing % &uh;

Stage : Opportunity (&0%) (e're in t!e $allpar on t!is deal)

I &e(ine a 50 Opportunit# as ha"ing the (ollowing 7uali(ications:

he &etails o( the pro&uct or partnership ha"e been &iscusse& an& it!s agree& it!s a

goo& (it (or both si&es he pricing o( the &eal is in the ballpar$ )within 20*

he rough timing o( the close o( the &eal has been &iscusse&


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Stage : Opportunity (*0%) (+egotiations are #o,plete)

I &e(ine a 90 Opportunit# as meeting the (ollowing criteria:

greement on pricing

greement on pro&uct specs greement on closing &ate

greement on &eli"er# &ate o( pro&uct

ontract has been re"iewe& )ust not signe& #et*

Stage &: Closed on (or Lost)

3inall#, when #ou close a &eal #ou ha"e two scenarios:

1*

how to create a sales pipeline.doc

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