Creating and maintaining an accurate sales pipeline is one of the top goals and responsibilities for any sales leader. Organizations count on their ability to accurately predict revenue so that it can be used to effectively manage operations, the supply chain, and even the market. Without it, it is likely that an organization will operate ineffectively, and the tenure of the sales leadership is always in question.
If it’s strong and well-built, a sales pipeline means your company is likely to hit growth targets. However, building pipeline comes with its own unique set of challenges.
Here’s a list of 10 incredibly insightful pipeline questions you should be asking:
- What is the difference in my pipeline by region or by team this week versus last week?
- What has moved in and out of the pipeline?
- What is the average number of days in each stage of a sale by team, by region or by customer?
- What is the average time a complete sales cycle takes by team, by region or by customer?
- What is the total revenue won and lost and what is the reason for lost revenue?
- Which opportunities have changed their forecast rating and have they progressed or stalled?
- How long does it take us to go through each stage in the sales cycle?
- How accurate historically has the team, region or sales individual been in winning a deal that they have committed?
- How accurate historically has the team, region or sales individual been in bringing a deal in on or before the date that they committed it?
- How accurate has your forecast been when you said:
- Deals would be won on a specific date?
- Deals would be won for a specific amount?
- Deals would be won?
If your company is like most companies, you don’t have the answers to all of the questions above, or, if you have the answers, they may not be accurate. Want to build a more accurate sales pipeline? Download this eBook - How to Overcome 3 Primary Sales Pipeline Challenges.