What is a sale pipeline, again?
It’s a snapshot of where prospects are in the sales process and how close they are to buying. Showing how many deals salespeople are expected to close and when, and the status in reaching their quota.
See last month’s article for Tips on how to maintain your Sales Pipeline. In this article we’ll share tips for building it in the first place.
Steps for building your sales pipeline:
- Database – Start by making a Sales Pipeline list of 100 people or businesses you can add value to.
- Some ways to fill your Sales Pipeline list –
- Start with your initial network (People you know and the people they know, your contacts, social followers).
- Google map (If you are targeting by area).
- Buy a database. While you will need to pay for this you can specify what you are looking for so might be more efficient. Make sure you know what it is you are looking for before you do to avoid wasting your time and money.
- For local, signage with the right message gets noticed.
- A flyer with an easy to digest message and call to action can work.
- Look for complimentary businesses where you can cross refer each other.
- Look back on previous customers and consider how you can sell more to them. It is easier to sell more to an existing customer than it is to find a new one. And people buy from people they like.
- Ask a good customer who else they know who they can refer you to.
- Connect with a professional body. Be known as an expert by helping to build the standards in your industry.
- For B2B search your local area business organisations for their directories.
- Research – Do your research to establish what it is you can do specifically to help them. Ask your network, peers. If going directly to the target find a reason to speak with them such as: Say you are doing brief research and value their expertise. The idea is to get to asking them what their problems are.
- Solutions – Work out where the common problem factors are and order them into a set of say 3-4 common problems. Now create the solutions and work out a way to simply explain it, this will become your Lead Magnet. You may even be able to create products out of this exercise.
- Lead Magnet – Your reason to call and the offer they can’t refuse. It’s a simple to digest way of explaining the solution, or product you are offering as an introductory offer. It might be free or at a special rate. It needs to be either very useful or low risk for them to try you.
- Prioritise – Work out which are the most likely to need your best solutions. Make this your priority to start with by moving these to the top of your list.
- Sales call – Pick up the phone, or visit your database. Personal approaches will achieve more than 10x the success of emails, advertising, or social posts. But they take a lot more time, so consider the cost/benefit ratios. Put the response from the call in your Sales Pipeline and schedule a follow up.
The key thing here is you are building a list of people you have their missing piece of the puzzle for. But remember people are busy, so be resilient. And if they say no move on.
The key thing here is you are building a list of people or businesses you can solve problems for. But remember people are busy, so be resilient. And if they say no move on.
Chris Norris – Truth Seeker Cert. MKTG | MCC | Cert. Typography
Former Chairman of Business Whangaparaoa and Board Member for Silverdale Business. He is also a mentor with the Business Mentors Programme at MBIE. Now running a locally focussed branding business. Allbrand.co.nz – Revealing the true Unique Selling point in businesses. If you are passionate about something you already have a great story. Get in touch to tell it: Chris@allbrand.co.nz
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