Capturing a lead turned out to be an easy objective that could be achieved in the current time; but how could a business owner be able to determine the client status in the sales pipeline? How could he keep him? And how could he convert the lead into a permanent client who does several conversions? We’re gonna discuss the answers in this article by applying them to the CRM system.
What is the sales pipeline in CRM?
It’s a visual illustration of the lead’s different statuses along with his purchasing/subscribing journey; through which the business can determine the lead’s current status. Every decision taken or interaction done by the lead is documented on the CRM for future reference and insights.
How to measure the quality of the sales pipeline
It’s measured according to:
- Conversion rate from first contact to deal
- Time spent per conversion
- Number of deals
- The average value of each contract
Before entering the sales pipeline
Now, you’ve got the leads from several channels that emptied at the end into the CRM system, and you’ve gained data from Google, Facebook, ads, and other methods. All you have to do is to manage this data, organize it and distribute it to your team members; where every salesperson starts the journey in which the client plays the leading role.
Does the potential client or lead automatically convert into a buyer? Of course not! Every step for the lead toward a purchase is considered a separate stage, each has its missions that CRM helps you to accomplish.
Communication with the lead is an inescapable matter, without communication no relation can be created, and without building a relationship you lose the client before starting the first round. Therefore, CRM works on managing this relationship through much care and interest.
Determining the client status along the sales pipeline
To focus more on the CRM system, we’re gonna illustrate the image for a complete purchase process. Let’s make some assumptions! You’re a business owner who earned leads via Facebook lead ads, then you exported those leads to the CRM system through an integration provided with the system.
Now, your role is to distribute those leads among your sales team, either through direct assignment or automatically. How will the CRM system accompany you along the sales pipeline step by step?
The sales pipeline and trust-building
The CRM system has automatically assigned the salesperson (S) by the communication with the lead (L). Here we start the sales pipeline. This will appear to you on the system in the form of a scheduled call in which (S) will present the available product (P).
During the first call, (S) will determine the pain points the client suffers from and his needs. Here the salesperson will build a relationship with the lead by gaining his trust and presenting him with what can help.
Before the call ends, the two parties will agree on a suitable time for the next call; where all the notices and objections related to the displayed product/service will be taken into consideration.
The CRM will record the previous call to review it. For the next call, you’ll put a reminder on the CRM system with the time of its start; trying to be available at that time.
As (S) could forward you some criticisms he couldn’t face during the call, and through an internal chat between you and (S), you’ll be able to deliver the answers that the client receives before the call ends through (S). This leads to determining the client status easily and allows you to monitor the sales pipeline spontaneously.
Determining the client’s status and his eligibility for a conversion/next marketing campaign
Tension and compression last for a while, determining the client status (L) occupies a middle area from which he moves to multiple choices. Either he accepts the responses that (S) has delivered and ends with a successful conversion, or he hasn’t liked them that much; so he turns into a lead for another product.
If this other product is in stock, (S) will offer it directly, if not; (L) will be part of the personas targeted by the next marketing campaign when you release this product.
So the entire history of the client (L), along his past journey, is within your hands. Every call made or message sent will be accessible to you either from the smartphone or the computer; as CRM is a cloud-based system.
Closing the deal successfully and the end of the sales pipeline
At last, the lead (L) purchases the product (P) with the help of the salesperson (S). This appears on the system at the time of its occurrence; where the screen shows that cash has been added by the client through (S). So you can track the sales targets, in addition to the weekly and daily revenue you gain.
The after-sales services and determining the client’s state
The CRM system’s leading role hasn’t ended by closing the deal successfully, but it also keeps you on track by determining the client status after sales.
Therefore, you put the reminders in the system that notify you of the periodic calls you should make; to ensure the client’s satisfaction with the product, and if he recommends it to another individual or not. If the client faces a problem during the product’s use, the technical support will contact him, and the system will record it as well.
Ways to increase sales
Increasing sales in the company could be achieved by increasing the customers generated by the marketing process, which is an important and necessary process for sure, yet its clear effect appears after consuming a lot of time, money, and effort. Studies confirm that the cost of acquiring a new client is much higher than maintaining a regular client.
Thus, your customer needs good management to get more transactions on his side. This management will not be successful, except through a customer management system that regulates the flow of sales and makes the process of communication with the customer smooth and unobstructed.
Sales Management Objectives
With Flash Lead Pro, the Forecast Sales unit organizes deals approaching completion, as the salesperson responsible for the customer puts all the potential factors that express deal completion from an expected date, expected value, and probability of success. The higher the probability, the more interest, and priority the deal will be, and the easier sales management goals will be achieved.
The CRM Sales Pipeline Reports
Sales pipeline reports in CRM are crucial for establishing a clear vision for your business, it guides you through monthly, weekly, or even daily overview offering you the updates and the status change of each lead, if it’s positive or negative, is the majority of changes positive and negative? This transfers the managers to analyze the data gathered.
This allows the managers to recognize the new developing opportunities and activities done by individuals like calls, meetings, and follow-ups. It’s a perfect way to monitor the new deals and prevent losing them or dropping them.
The number of deals closed by each sales member during a certain period of time is an essential KPI for the sales and business development department. As well as, the number of lost deals should be taken into consideration. Knowing the factors of success and failure must be crystal clear.
Success and failure factors could be part of the sales pipeline, in other words, the sales pipeline might need modifications. To be shortened, for instance, to make leads convert faster. Other factors sources could be employees’ skills and productivity.
Factors could be even external ones, they could target the quality of the lead, and the market the business targets.
Flash Lead sales report
There is a competitive advantage that Flash Lead offers through its systems, where it provides reports that show sales performance during the period specified by the user, whether through the transactions that each salesperson succeeded in completing or through the sales that were captured during the month.
Flash Lead also gives an overview of the performance and shows the extent of the customer’s interaction with the company and its products through the number of calls and meetings in addition to the successful transactions that the customer completed by the company.
It should be noted that you can customize the client’s sales pipeline via our product Flash Lead CRM to fit its actual status in the system. To know more, visit our website or our Facebook page.
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