A Stagnating Sales Pipeline can be an classic indicator that your sales performance is in decline.
Are your sales efforts producing a Stagnating Sales Pipeline
It is inevitable that at some point sales processes and sales methodologies will fail to maximize revenue and provide your organisation with the growth in new business that it needs. Perhaps due to a changing economy or changes in buyer behaviour, a recent shift in the strategic direction of the business or a competitive threat. Regardless of the reason, sales processes require constant optimization and attention.
How do you know if your customer relationship management (CRM) approach is producing diminishing returns? Diagnosing the problem starts with identifying symptoms. , these may include:
- Longer than average sales cycles
- High sales rep turnover
- Recent loss of market share
- Difficulty accurately forecasting sales results.
It’s easy for a depressed economy to mask internal issues. Optimizing sales processes or improving the availability of information could give your sales reps the competitive edge they desperately need.
Stagnating Sales Pipeline – opportunity management
Are opportunities stuck in the sales pipeline for abnormally longer periods of time? Understanding deviations that are outside the normal variances is critical to staying on top of potential issues
CRM Technology not used effectively for managing stagnating sales pipelines
For top performers CRM is a source if competitive advantage for reps. It becomes a destination for sales people to get a leg up on deals, supplying background info on accounts, contacts, lead qualification, insight into marketing communications, etc.
Insufficient leads
A stagnating sales pipeline could be an indication that the volume of leads entering the sales pipeline is not sufficient to meet sales targets. The use of an effective Inbound Marketing strategy can help. Your CRM should be one of the best lead management tools that you have.
Opportunities are slipping through the Pipeline
According to research, approx. 50% of leads that enter the sales pipeline will not close in the near future. Technology needs to enable these leads to be rerouted back to marketing to be nurtured until the client is ready to purchase.
Lack of Sales process
If lack of process plagues sales results in your organisation, there is a good change sales is not reaching its full potential. Top performers rank streamlining and establishing consistency in company sales processes as a top three value driver for maximizing CRM Success
To understand more about how the reasons for a Stagnating Sales Pipeline and how address it, contact ProAptivity today.
How ProAptivity can help
A CRM system benefits an organisation through the visibility of a stagnating sales pipeline is invaluable. This visibility is fundamental to managing organisation performance as well as specific elements like the control of the sales cycle. This visibility enables management to understand why, when, who and how opportunities are being won, stalled, or being lost. If it cannot be monitored, it cannot be managed.
The visibility offered within the CRM system also allows management to make educated business decisions based on hard data. A CRM system will enable structured data to be used to access performance.
Who is ProAptivity
ProAptivity, The CRM Specialists’ is a multi-faceted CRM software company. At ProAptivity we have the expertise to consult, train and deliver in all things Customer Relationship Management. Our CRM software supported by our training provide customers with the tools needed to deliver successful CRM implementations.
Fundamentally, we help organisations embed CRM best practice throughout their organisation. This helps organisations become more competitive, customer focused and ultimately more profitable.
If you need help in understanding why my business needs CRM, maybe some of our eBooks could help! Alternatively visit Maximizer CRM for more information. Contact us today in Belfast on 028 9099 6388 or at our Bedford office on 01234 214004. Alternatively email us on info@proaptivity.com. Contact us today for a free CRM consultation that will assess if your business is CRM ready.
Source: Gleanster
