The sales pipeline is a sales system that leads buyers on their journey from their first contact with your MSP company marketing campaign to the time your sales team converts them into customers. This sales funnel system is supposed to run smoothly through each stage of the sales process, but this doesn’t always happen. Many times, inefficient sales management causes prospects to get sidetracked and lost.
Stages of the Sales Pipeline
When your marketing and sales teams know the stages involved in the sales pipeline, they can take steps to move prospects through each stage. Use these stages as a guide to reassure each of the buyers according to their needs:
- Lead generation
- Qualifying leads
- Consensus building with qualified leads
- Make the sale
- Follow-up after the sale
Find Quality Leads
In order to keep your sales pipeline running smoothly, don’t fill up the top with unqualified leads that go nowhere. This only blocks the prospects who need your services from reaching the middle of the funnel. It’s better to meet with 10 quality leads and convert six of them than to meet with 20 poor leads and only convert one.
Your marketing team should focus on understanding your target audience and what they need from your business. Your marketing strategy shouldn’t consider finding leads as a numbers game but use it as a way to lead targeted prospects through the buyers’ journey to sales conversions.
Get the Right Commitments
By the time your prospects reach the middle of the funnel, they’re ready to commit. Make sure your leads have the authority to commit to your services, or your sales team will just be wasting their time. Once you determine that the lead has the authority, work with them in consensus-building.
Listen to what your prospects have to say, solving any problems or concerns they might have. Try to negotiate an agreement with them that you both can live with, otherwise the sales will stall.
Emphasize Brand Value
The bottom of the funnel is where your sales team emphasizes the value of your MSP company services. Although you’ve already reached a consensus, this stage of the buyers’ journey often addresses the worries and risks of the buyers’ next steps. Many times, unresolved fears can keep a high-quality lead from following through with the sale. The sooner your sales team can alleviate your buyers’ concerns and fears, the quicker the deal will move forward.
Analyze and Improve Sales Funnel
Your sales funnel is always changing. It’s important to have routine brainstorming sessions with your marketing and sales teams, so they can work together for a streamlined pipeline. Address the buyers’ concerns and the blockage points in the pipeline, coming up with solutions that increase conversions.
During the marketing and sales team sessions, analyze the metrics of which stages drive traffic, qualify leads and close deals. These analytics can help your teams know which parts of your funnel need improvements.
Keep your MSP company sales pipeline running the way it should by focusing on quality leads, consensus-building and alleviating your buyers’ fears. Your marketing and sales team should work together to bring your buyers through their journey for increased sales.