It’s 2019 and is your sales pipeline still a bit empty? As the New Year has come your immediate solution to this would be to just hire more salespeople to aid in filling up your pipeline. This will increase your revenue but that would be a highly cost ineffective solution to a problem.
Before trying to solve the problem first try and understand why this problem has happened. Oftentimes sales teams heavily focus on closing businesses they have and they end up overlooking or choosing to overlook the vital importance of building their sales pipeline for future purposes.
Most businessmen and sales personnel agree on the importance of continuously building and maintaining an effective sales pipeline but few invest their time and energy into thinking up new and innovative ways to do so.
As this is the beginning for the New Year, why not stop waiting around for prospects and opportunities to come and fill your pipeline; by getting a deeper understanding about the solutions you are providing and by making a conscious effort to do whatever it takes to get the opportunities that your company needs.
So here are 6 ways you can navigate the process and get closer to success.
1.Understand your solution
It is vital that B2B marketers need to be able to communicate pricing, quality, after-sales services, payment modes, onboarding, and delivery in the clearest way possible. But the final purchase will not rely just on the salesperson’s ability to inform the prospect of these details. The sales-rep must be able to win the prospect’s trust and confidence so that they can truly understand they can rely on what is being told to them.
An inside sales team is in charge of high-ticket deals and in order to deliver results it is imperative that they know the product or service the company is providing inside and out. This will help them sell with confidence and gain the prospect’s trust.
2. Belief in the offering
Unlike popular opinion, today’s buyers are filled with even more uncertainty and insecurity about their impending purchases. They are in need of salespersons who can share ideas and even help them think ideas through. This is where insight selling comes into play. Sales need to move from being product centric and should focus on the customer by helping them understand why they should buy before directing the conversation to how your solution will help them.
Salespeople need to improve their product knowledge and their customer knowledge in order to give an all-round solution the customer finds hard to say no to. Learning from customer reference stories, sales teams can develop awareness about what works and what doesn’t. This knowledge helps sales-reps get the passion for their product back in their voices as they now know that they are guiding the customer to experiencing better solutions.
3. Stepping out of the box
Many companies acknowledge the importance of innovation and creativity but few carry out the steps necessary to enforce it and instead stick to the tried and tested methods they have grown accustomed to. When a B2B marketer decides to push the envelope and work creatively, they can increase the value of their brand to new heights without spending much.
Here are some ideas you could adapt to boost sales.
- Always find an opportunity to cross and up-sell
- Ensure all your sales efforts are highly targeted
- A small pipeline is often times a more productive pipeline
- Automate your marketing activities
- Become a trusted advisor by offering ideal content
- Focus on customer advocacy
- Invest time in understanding and fully utilizing social media
4. Be open minded
Before setting out with a marketing goal, you might have in mind exactly what you want to do and how it is you want to achieve it but rarely does the market that way. By not holding too fast to the method of achieving your goals, and the goals itself, you open yourself up to new opportunities that might not even have been on your radar prior to planning. It is vital to be flexible as you take action as sometimes opportunities can be different what you expect.
5. Be responsive
It is not enough to just concentrate efforts on building your pipeline you need to invest time and resources into building relationships. This can be achieved by being responsive and available to your prospects and truly connecting with them. It is better than having a one-track mind towards acquiring opportunities. This will also help in creating long-lasting, solid relationships that will keep you in the mind of your prospect.
6. Be decisive
As and when opportunities arise, it is important to take full advantage of them with confidence. Don’t let those opportunities go to waste after spending so much time and resources on planning, priming and nurturing a good sales pipeline. Based on the amount of preparation you have done prior to following through on a marketing plan, you will be able to make informed decisions that help you close more sales.
So use these ideas and any more you can think of to begin anew and to adopt a fresh approach to building and maintaining your sales pipeline. Create your own opportunities which align with what your product is and the goals you wish to achieve. Just always remember to enjoy the process, be patient and maintain a positive outlook.