How to Build a Sales Pipeline with Video

Sales Prospecting
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What is a Sales Pipeline?

  • Famously known as ‘Sales Funnel’
  • Pipelines are illustrated in the levels of the selling process as a horizontal bar, often as a funnel.
  • It helps track various prospective buyers in varying phases of the purchasing process.
  • This is an essential tool that will help you meet your sales objectives.

Why Should You Build a Sales Pipeline?

  • It tells sellers what step of the purchasing process should come next.
  • Makes their jobs easier and their workday far more effective.
  • Provide leaders and company owners with the information they need to forecast revenue.
  • It can help create a plan for long-term growth and develop strategic actions.

How To Get Started?

  1. Gather the list of your prospective buyer.
  • People who want to buy from you.
  • As detailed as possible
  • Include all necessary contact information and how they got in touch with you

2. Organize your sales process.

  • A step-by-step formula that shows the exact activities your team needs to do to close a deal.

3. Your target sales revenue

  • How many deals do you need to add to your pipeline to meet your target revenue?
  • By setting a target profit, you will be able to see how your pipeline will look.

4. Build a sales team.

  • Everyone in your team will be using the same pipeline so make sure you have it as detailed as it could get.
  • You can ask for a second opinion.

*What Are The Stages of a Sales Pipeline?

PROSPECTING

  • Find prospective buyers who need the product or service that you’re selling.
  • Your prospects vary depending on the products, the organization, and your clients.
  • Lead generation and cold leads.
  • List potential clients

QUALIFYING or RESEARCHING

  • Find prospects who are the right fit for what you’re selling.
  • You don’t want your team wasting their time on leads who won’t buy a single of your products.

Hot Leads vs Cold Leads

  • Make some research and/or talk with a prospective client.
  • Try answering these questions:
  • Do they have a budget to buy what you’re selling?
  • Do they need your product?
  • Can they decide to buy on their own?
  • Are they ready to buy?
  • If the questions above answer to ‘yes’ then that’s a hot lead.
  • Remember More work for cold leads.
  • Use a CRM (Customer Relationship Management) to track progress and check prospects that have been clogging your pipeline for a long time.

CONTACTING

  • Create your script.
  • Make the first contact.
  • Either through a phone call, email, text, or social media.

BUILDING CUSTOMER RELATIONSHIP

  • Aim for a retainer client.
  • Email them from time to time but not to the point that you annoy them.
  • Connect with them via social media and like their posts or leave a comment.
  • Important to build trust and relationships with potential clients and retainer customers.

CLOSING

  • Finalize the deal.
  • Some buyers do not completely say ‘yes’ right away.
  • If your customer doesn’t show right before closing a deal, send them a message saying maybe it’s not a good time and that you will reach out to them again on a specific date —> mark it as a cold lead.
  • FOLLOWING UP (Cold leads)
  • Check occasionally and see what they’re up to and try to know if they’re ready to buy your product.
  • They might need your product now more than before.

How To Build Your Own Pipeline.

  1. List your potential buyers.
  • Use a CRM or an excel sheet.
  1. Create your stages.

Do not create too many stages. It has the potential to waste your sales representative’s time.

  1. Specify and break broad stages into smaller stages.
  2. Keep your pipelines up to date.
  3. Improve your pipeline as you start the first stage.2