Learn what a sales pipeline is and why it is important
Posted: Sat Dec 07, 2024 8:09 am
Do you know what a sales pipeline is? In this post you will learn how this sales process can help you organize and manage the generation and conversion of leads in your business. Don't miss it!
Luis Herrera
May 7, 22 | 7 min read
sales pipeline
Reading time: 6 minutes
Every company, regardless of its size or line of business, has the main objective of marketing something and, in turn, every sales process has to have a structure if we want it to be controllable, modifiable and scalable.
In this sense, learning what a sales pipeline is syria email list will help you take the first steps towards optimized management and visibility of your marketing flow and lead your leads to the conversion you want.
Along these lines we will teach you what this element is about, its importance within sales strategies and, of course, the steps to create your sales pipeline.
Are you ready to find out what a sales pipeline is and how to implement it in your business? Keep reading!
What is a sales pipeline?
A sales pipeline is a visual conceptualization that establishes the order of your sales process.
As its name suggests, the pipeline is the path that each lead will take to become a customer of your business.
If you are familiar with the Inbound methodology sales funnel and Content Marketing , you probably already understand what we are referring to.
Generally, everything that makes up a sales pipeline is represented and controlled visually through a CRM or Customer Relationship Management, since it is a process that must be automated and controlled digitally by the various phases that comprise it.
However, a sales pipeline is not the same for every business; in fact, a pipeline can vary from product line to product or even from item to item within the same organization.
This demonstrates how versatile it can be and how useful it is for organizing and controlling the entire sales process.
Still don't get the idea of what a sales pipeline is? Don't worry, we'll give you an example below.
Imagine that after a user downloads an ebook from your brand, they decide to contact your business for a quote. At that point, they have already entered your sales pipeline.
The next step would be a meeting to introduce your product and your company. Afterwards, you make a personalized quote and, finally, you provide the solutions or, directly, you solve their need.
The pipeline is, in short, the visual conceptualization of each of these steps , so that they can be standardized within your organization and duplicated every time a business opportunity arises.
Why should you create one?
There are many reasons why a company, regardless of its size or sector, has to learn what a sales pipeline is and then implement it in its operations.
However, below we will describe the main reasons that will surely convince you of its importance.
Visualization : A sales pipeline provides those who manage and are part of the Sales department with a visual representation to show each member the stage or location where each lead is.
Forecast profits : This tool also contextualizes managers and sales representatives about potential profits, to the point of being almost a prediction , by indicating leads in the final stages of the pipeline and comparing them with patterns.
Cooperation : Puts all teams on the same page when dealing with a contact, allowing for greater group synergy and closing the most business opportunities.
Data collection : through interaction with leads and customers, and the use of tools such as CRMs, data is obtained on the behavior of leads to execute effective and precise actions on each potential consumer.
A lead will move through the different phases of the sales pipeline according to their interest, needs, problems or how much knowledge they have of the solutions the company provides.
There is the possibility of obtaining leads that will "skip" stages of the pipeline, especially if before arriving at your business they already recognize their need and know what the good is that will help them solve it.
Now, at this point you may not be able to see the differences between a sales pipeline and a sales funnel, right? We'll explain them below.
Complement your reading with the following blog articles!
Ideal content for the bottom of your sales funnel
Learn about the BANT grading methodology
Improve your lead generation with this complete guide
Differences between pipeline and sales funnel
A priori , the very concept of a "funnel" tells us that fewer elements will come out of the process than those that entered. This reinforces the idea that a huge number of leads is needed to meet a quota, considering all those that will be left behind.
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In this sense, the sales pipeline stimulates the idea that any lead that reaches the company's database is a potential client that only needs to be managed until it reaches the closing phase.
Sales Pipeline Steps
In order to obtain a structured, orderly and reliable sales pipeline process, it is necessary to comply with some basic steps that will be part of the process.
It is important to clarify that a sales pipeline can vary from strategy to strategy, or even from product to product. Therefore, a detailed analysis of the phases for each action is necessary.
Luis Herrera
May 7, 22 | 7 min read
sales pipeline
Reading time: 6 minutes
Every company, regardless of its size or line of business, has the main objective of marketing something and, in turn, every sales process has to have a structure if we want it to be controllable, modifiable and scalable.
In this sense, learning what a sales pipeline is syria email list will help you take the first steps towards optimized management and visibility of your marketing flow and lead your leads to the conversion you want.
Along these lines we will teach you what this element is about, its importance within sales strategies and, of course, the steps to create your sales pipeline.
Are you ready to find out what a sales pipeline is and how to implement it in your business? Keep reading!
What is a sales pipeline?
A sales pipeline is a visual conceptualization that establishes the order of your sales process.
As its name suggests, the pipeline is the path that each lead will take to become a customer of your business.
If you are familiar with the Inbound methodology sales funnel and Content Marketing , you probably already understand what we are referring to.
Generally, everything that makes up a sales pipeline is represented and controlled visually through a CRM or Customer Relationship Management, since it is a process that must be automated and controlled digitally by the various phases that comprise it.
However, a sales pipeline is not the same for every business; in fact, a pipeline can vary from product line to product or even from item to item within the same organization.
This demonstrates how versatile it can be and how useful it is for organizing and controlling the entire sales process.
Still don't get the idea of what a sales pipeline is? Don't worry, we'll give you an example below.
Imagine that after a user downloads an ebook from your brand, they decide to contact your business for a quote. At that point, they have already entered your sales pipeline.
The next step would be a meeting to introduce your product and your company. Afterwards, you make a personalized quote and, finally, you provide the solutions or, directly, you solve their need.
The pipeline is, in short, the visual conceptualization of each of these steps , so that they can be standardized within your organization and duplicated every time a business opportunity arises.
Why should you create one?
There are many reasons why a company, regardless of its size or sector, has to learn what a sales pipeline is and then implement it in its operations.
However, below we will describe the main reasons that will surely convince you of its importance.
Visualization : A sales pipeline provides those who manage and are part of the Sales department with a visual representation to show each member the stage or location where each lead is.
Forecast profits : This tool also contextualizes managers and sales representatives about potential profits, to the point of being almost a prediction , by indicating leads in the final stages of the pipeline and comparing them with patterns.
Cooperation : Puts all teams on the same page when dealing with a contact, allowing for greater group synergy and closing the most business opportunities.
Data collection : through interaction with leads and customers, and the use of tools such as CRMs, data is obtained on the behavior of leads to execute effective and precise actions on each potential consumer.
A lead will move through the different phases of the sales pipeline according to their interest, needs, problems or how much knowledge they have of the solutions the company provides.
There is the possibility of obtaining leads that will "skip" stages of the pipeline, especially if before arriving at your business they already recognize their need and know what the good is that will help them solve it.
Now, at this point you may not be able to see the differences between a sales pipeline and a sales funnel, right? We'll explain them below.
Complement your reading with the following blog articles!
Ideal content for the bottom of your sales funnel
Learn about the BANT grading methodology
Improve your lead generation with this complete guide
Differences between pipeline and sales funnel
A priori , the very concept of a "funnel" tells us that fewer elements will come out of the process than those that entered. This reinforces the idea that a huge number of leads is needed to meet a quota, considering all those that will be left behind.
ADVERTISEMENT
In this sense, the sales pipeline stimulates the idea that any lead that reaches the company's database is a potential client that only needs to be managed until it reaches the closing phase.
Sales Pipeline Steps
In order to obtain a structured, orderly and reliable sales pipeline process, it is necessary to comply with some basic steps that will be part of the process.
It is important to clarify that a sales pipeline can vary from strategy to strategy, or even from product to product. Therefore, a detailed analysis of the phases for each action is necessary.