7 Most Effective stations of every B2B sales pipeline!
The sales pipeline can help senior management teams understand the health of the overall business, identify potential issues on a segment and can serve as an early warning system for potential weakness in a region or product.
For the modern salesperson, a B2B sales pipeline is your scorecard to achievement and can identify critical conversion ratio information, identify specific skills improvement opportunities, and benchmark individual performance to industry standards and against best in class.
We all are changing out habits, our lifestyles, our daily routines and a lot of things. You should understand same goes with your customers too! We have studied and adopted a brand-new approach towards selling better. Our marketing strategies are all developed and inspired by current situation. Our marketing research team has studied the current wants & needs that makes us more effective in terms of marketing, leading towards sales.
A modern B2B pipeline should be updated automatically with technology that sets
the appropriate stage via defined criteria. Let’s review the standard stages of a
modern B2B sales pipeline.
1. Identify your lead type.
So you have a steady stream of contacts on your radar, but how do you know if they’re ready for the sale? These are the different types of contacts that are possible to encounter during the sales process.
• Suspect — a company in your database that fits your ideal customer profile and has the potential to buy your product or service.
• Prospect — a contact at a suspect company who has a need and may be searching for a solution sometime in the next 12-24 months.
• Lead — a prospect that has taken an action or responded to a marketing or sales campaign and shows some level of interest in your product.
2. Connect call.
Once you identify a lead and a lead type, it’s time to set up a connect call requires a 10 to 15-minute call where the salesperson asks some basic questions for better understanding of what problem the client is looking to solve. The motive of this call is gather basic information that will help you navigate the balance of the sales process.
Whenever you talk to your prospect, skip on a discovery call. A discovery call is a 25 to 50-minute question and answer period where the salesperson where you can dive deeper with your prospect.
3. Opportunity stage.
Through the opportunity stage, you should learn the following information: who the prospect is currently buying from this three perfect reason they would buy from you, three reasons they may choose not to buy from you, and who the economic decision maker is for this sale. With this data, you can determine how likely you are to secure a closed-won deal.
4. Conduct a demo.
Most prospects like to see the product in action before purchasing, so scheduling a demo may improve the odds of closing a deal and is an appropriate deal stage. After conducting your demo, you can have a variety of outcomes.
5. Decision maker buy-in.
After gaining consensus to move forward by the influencer, economic decision maker, and executive sponsor, the deal can move to the negotiation stage to finalize the price and necessary agreements.
Don’t let your contact go dark during negotiation. Check in at regular intervals to find out which direction things are headed in so any turn towards a “no” doesn’t head too far in that negative direction without a chance for you to turn it around.
7. Closed-lost or closed-won.
If the deal is set to go through, the prospect can then fulfill payment indicating a closed-won deal. With business won you need to deliver on your promises great customer service, and ongoing support.
In a closed-lost deal, the prospect can decline the final offer and either opt for a competitor or decide to not purchase the product. However, if a deal is closed-lost, don’t write a lost opportunity off for good. Both sales reps and prospects benefit from a well-defined process. And when we skip the jargon, keep it fun, and think of our B2B customers as people with emotional drivers and needs, that process becomes even more successful.
A modern B2B pipeline should be updated automatically with technology that sets the appropriate stage via defined criteria. Let us review the standard stages of a modern B2B sales pipeline.!
𝘏𝘦𝘳𝘦 𝘢𝘳𝘦 𝘵𝘩𝘦 𝘮𝘰𝘴𝘵 𝘦𝘧𝘧𝘦𝘤𝘵𝘪𝘷𝘦 𝘴𝘵𝘢𝘵𝘪𝘰𝘯𝘴 𝘰𝘧 𝘦𝘷𝘦𝘳𝘺 𝘉2𝘉 𝘴𝘢𝘭𝘦𝘴 𝘱𝘪𝘱𝘦𝘭𝘪𝘯𝘦:
📌 Identify your lead type.
📌 Connect call.
📌 Opportunity stage.
📌 Conduct a demo.
📌 Decision maker buy-in.
📌 Closed-lost or closed-won