Every Inside Sales Manager understands how critical sales pipeline management is.
A study by Vantage Point Performance says that 44% of B2B executives feel that their existing sales pipeline management is ineffective.
Companies with effective pipeline management grow revenue 15% faster than companies with ineffective management.
Yet most businesses struggle. Through this blog, I’ll cover some of the biggest hurdles your sales management team may face in 2016.
Lead Generation can’t be Cold
Startling figure, isn’t it?
This happens because buyers these days just don’t trust the old school sales and marketing. Emails and cold calls are no more an effective and pleasant way of selling.
This can be solved by building some rapport with the prospects before approaching them. Build a sales cadence which makes the buyer warm before prospecting.
Evolved Buyer – Tough to Persuade
Buyers these days rely more on review sites and opinion marketing than sales reps. If the reviews are not good, they will simply prefer a competitor without actually entering your sales funnel.
This can be addressed by encouraging your brand advocates to write online reviews and comments.
Increased Time to Closure
Sales Reps now have to deal with a lot more stakeholders than ever before. A research by Harvard University says that more than a quarter of B2B sales cycles take seven months or more to close.
Keep a happy pool of high-quality references who are ready to talk to different types of stakeholders. Consistently engage, educate, and delight your customers so that they are comfortable talking to others.
Did I miss something?
Do let me know through comments.