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5 best practices for managing a sales pipeline for a startup
A great sales pipeline can help your startup business process go much smoother and take the guesswork out of sales actions. Here are some best practices for optimizing and managing your sales pipeline.
1. Prioritize your good leads, drop your bad leads
Leads are the people and companies that enter your pipeline and move their way through the buyer’s journey.
Only a fraction of all the leads that go through your pipeline will close, and startups often don’t have the time and resources to follow up on every possible lead.
So, instead of trying to win each and every lead – exhausting your sales team in the process – you can measure the quality of your leads and prioritize high-quality leads by using lead scoring.
Lead scoring is giving a score to leads every time they take specified actions or meet specified criteria. For example, scoring actions could include opening promotional emails frequently or having a specific number of employees at their company.
With Nutshell, you can manually label leads as Hot Leads – leads philippine pie telegram most likely to close, or those that are more meaningful to you – and allow your sales team members to prioritize them too.
The higher the lead score, the more likely that they will convert, so it’s best to prioritize these high-quality leads.
On the other hand, leads that consistently score low (they’re not opening emails, answering calls, etc.) should be dropped from your list after some time. It’s best practice to clean your lead and contact list regularly.
Recognizing and eliminating unproductive leads is just as important as focusing on your best leads for pipeline efficiency.
2. Analyze your pipeline regularly
Whether you choose to do this on a weekly, monthly, or quarterly basis, it’s essential to analyze your sales process and performance regularly. Important key metrics to check include:
Number of sales-qualified leads entering
your pipeline
Average client acquisition cost
Number of closed deals
Average sales cycle length
Knowing the performance of your sales pipeline and sales team allows you to extract actionable insights. You can use these insights to make decisions on how to optimize your pipeline and process.
Using Nutshell CRM, you get actionable insights and real-time data on sales performance, team produ