6 Key Steps For a Successful Pipeline Management Process
Introduction A structured pipeline management is the lifeblood of successful sales organizations. It serves as a guide to sales team members in the complex journey of converting leads into customers. Benefits of having robust pipeline management are manyfold. This article details the 6 key steps involved in establishing a successful pipeline management system. It also discusses the best practices required for an effective pipeline management in sales. 6 Key Steps in Effective Pipeline Management Define sales stages This is the first step in the pipeline management process. It is important to define and identify the different sales stages involved in how a prospect moves through from an initial contact all the way till the lead gets converted into a paying client. Some of the common stages include Lead, Qualified, Demo, Proposal, Negotiation, and Won or Lost. Defining these stages ensures a standardized approach to the sales process. It also helps the sales reps to have an understandin