Definition:
Sales Pipeline is a map of all the daily activity that is part of the conversion funnel. This map contemplates from the capture of a lead to the closing of the sale. Pipeline is the engine of HubSpot’s business process. In this software we can analyze where in the purchase process our lead is. As well as developing a strategy in which users go through each phase and thus achieve success.
The main advantage of Sales Pipeline is the prediction of how many leads generated can end up becoming sales. All this establishing the desired period of time.
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What is Sales Pipeline?
Sales Pipeline is a tool that measures and calibrates potential sales. It helps us detect problems with our leads. So we can take advantage of opportunities to improve our return on investment. In order to use Pipeline we have to get to know the sales process well.
How does Pipeline work?
Sales Pipeline begins to analyze the sales process from the prospecting phase. It begins to qualify the lead from the time it is assigned an economic value and ends after the sale occurs.
The data provided by Pipeline is key to the direction of the company and the commercials. It offers metrics with which to improve the sales process, such as:
• Evolution of pipeline in number of projects
• % of pipeline VS forecast
• % of pipelin VS turnover
• Evolution of pipeline in €
The conversion rate of Pipeline will vary depending on the employees of the entity and depending on the sector where it operates. It is very important to perform all the calculations individually to be able to compare the results and improve in future actions.
Tips for optimizing Sales Pipeline
We must use Sales Pipeline in an objective way without any personal bias. It is key to carry out a study of the company for each commercial. We must also avoid the lack of income by checking that we have enough projects to start. Remember, if we have good Pipeline control, we will master all the results.
