Do your sales reps have enough qualified leads? More often than not, they do not. The result is that sales reps hold on to deals that are unlikely to close. An objective Pipeline Assessment can determine needed action to fix this problem.
To assess the Pipeline, we apply our proprietary Pipeline Requirements Model that starts with the revenue goal. We calculate the number of new customers needed, add in the expectations from the current pipeline, apply reasonable assumptions on conversion rates and lead times, and then determine the number of new leads required. Often, the result of this analysis is that the number of leads to be generated is far greater than is required to meet the revenue plan.
It is important to ensure that sales reps have enough qualified leads to be able to focus on opportunity development rather than on building pipeline. Marketing has the responsibility for providing qualified leads. Sales has responsibility for calling on these leads and providing objective feedback as to their quality so that Marketing can implement continuous improvement in the lead generation process.Â Sales-Marketing alignment is crucial for successful pipeline development. We recommend an Ideal Customer Criteria list and Qualified Lead Criteria be developed to facilitate the agreement.
When Sales & Marketing are not aligned, bad things happen such as higher cost of selling, low lead conversion rates, inadequate pipelines and conflicting messaging to customers & prospects.
Growth Process Group can evaluate your Pipeline to determine if it meets your Revenue goals.