Jamesanderson

Sales reps are always brainstorming new ways to target their leads and convert them into potential customers. But, unfortunately, only 10-15% of leads ever turn into customers. 

This low lead generation rate is both alarming and helpful. It is helpful because you can better structure your sales funnel to beat all odds. You can focus on learning how to build a sales pipeline so that no lead can get away from you. 

If you are wondering how to build a sales pipeline process is going to be a very technical and complicated task, you are wrong. In fact, structuring your sales pipeline is very easy if you follow the right direction. So, let’s dig in. 

How to Build a Sales Pipeline to Target your Potential Leads

Target your lead

Foremost, in how to build a sales pipeline process, you have to target your lead. Once you know which company or person you are going to sell your product to, you have to next move to structure a plan to poach your lead, including:

• Search target — every day, find new targets for your products or services. 
  
  
• Contact — via email, call, or other communication modes, contact your potential lead. 
  
  
• Fix a meeting — leads who have shown interest in your services or products, you should immediately fix a meeting with them. 
  
  
• Proposal — after the meeting, you have to send a proposal for the charges for your services. 
  
  
• Negotiations — leave room for negotiation as your prospective clients would prefer to negotiate the terms of the contract with you. 
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• Close — finally, seal the deal before the client can change his or her mind. 

Fix a number 

Next, you have to fix how many leads you should target every day. This number plays a significant role in determining whether you will have a higher or lower lead generation rate. Thus, at Tenbound, we advise sales reps to analyze their daily lead generation rate and accordingly fix their magic number. 

For example, if, on average, you send 30 proposals daily, and out of which only ten moves to the next stage, your lead generation rate is around 30%. Thus, you should use this metric to determine how many proposals you have to send daily to achieve your sales target. 

Keep track of your leads

Once you have added leads to your sales funnel, you shouldn’t abandon them in search of new leads. You have to maintain a balance between your active and prospective leads. You should divide your time between making calls to the active leads to know how close they are to become your customers. Also, you should dedicate half of your time to looking for new leads. So, it’s all how you balance your time and follow every lead that comes your way. 

Use the right technology 

Today, sales funnels have gone fully automated. From searching leads, managing and following them, the software can help you a lot. But the main point here is to find the suitable CRM (customer relationship management) software that can give a push to your sales pipeline. 

To find the right sales automation tools, you should first define your requirements and then explore different tools available in the market to pick the most suitable one. 

After knowing how to create a sales pipeline, you must have figured out the importance of a structured sales approach. So, you should not wait for any second and create your sales pipeline to increase your lead generation rate. To get more information on the sales pipeline, you can visit the Tenbound website as we have many courses, conferences, and other tools to help you better.