Identify and solve problems with your sales cycle, so you can close more deals and drive more revenue.
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What’s this and how does it benefit your business?
Your sales pipeline, i.e., the number of steps your clients take from the first interaction with your brand to the purchase, is not a linear process. Some leads rush through all the steps, while others will stay stuck at a certain stage for weeks, if not months.
However, keep in mind that not all stuck customers are lost customers. If you don’t follow up with leads who are stuck at a certain step of your sales process, you’re definitely leaving money on the table.
But how do you identify stuck leads and, therefore, stuck sales opportunities? First of all, you’ll have to determine if they’re active sales opportunities or not.
An active sales opportunity is when your rep is still interacting with the lead, regardless of the number of weeks since the first interaction, and has not gotten a definitive “no” answer.
This handy template breaks down all your active sales opportunities by month and by the sales rep that created them. This way, you can easily see when you should follow up with a lead. And you’ll be sure to assign the task to the right rep, i.e., the rep who is already interacting with that lead. This will help close the deal and shorten your sales cycle.
By looking at the report, you can also easily realize if one of your reps is having trouble closing deals. Let’s say that, on average, your reps close deals in 90 days. But, looking at the report, you notice that one of the reps, Mark, is taking much longer.
With this data on hand, you can follow up with Mark to find out how you can solve the problem. Maybe you’ll learn that he’s struggling with a specific step of the sales process, so the leads stay stuck at that step and the deal never gets closed.
In any case, data gives you the chance to identify the problem and solve it for good, so Mark can close more deals and, ultimately, drive more revenue for your business.