How to create a qualified sales pipeline
Posted: Thu Dec 26, 2024 7:07 am
Pipeline, or sales pipeline to be precise, is a term that sales and marketing teams use all the time. What is a pipeline? A pipeline means the volume of qualified opportunities that an organization has identified. If a pipeline itself means a list of qualified opportunities, why are we talking about building a QUALIFIED sales pipeline?
Most marketing teams focus on generating pipeline rather than creating qualified opportunities. So, while B2B marketing teams contribute to about 80% of the pipeline on average, their contribution to revenue is only about 20%. Lost deals are not the biggest problem for B2B companies.
The alarming rise in deal inactivity rate across all industries over the past decade is the biggest issue that needs to be addressed. Opportunities in the pipeline that end up without a decision indicate the lack of data-driven MOFU and BOFU processes.
That’s why revenue teams need to start calling it a “QUALIFIED pipeline.” Not only to remind everyone on the team what it was supposed to be in the first place. But also to better structure the opportunity qualification process.
sales-pipeline-1024x576-3
What is a qualified sales pipeline?
A qualified sales pipeline or healthy opportunity pipeline means a list of accounts with a high probability of facing the problem you’re solving. And on top of that, these leads should list of telegram users in cambodia have recognized the problem and reached an internal consensus on the need for a solution.
Most sales teams work on accounts without having any idea if these leads understand the problem, let alone realize the need to solve it. Or if there’s a buyer group or buying committee that’s willing to buy. And this is the exact reason why 80% of all leads account for only 20% of revenue.
So how do you pick up on these signals to ensure your sales team is engaging with the right accounts? At Smartbound , we’ve designed a data-driven account qualification model for our clients. We collect current data from your customers, sales intelligence , CRM, and every other customer touchpoint to validate BOFU engagements with accounts. And we don’t stop there.
Historical data can be a goldmine of information, so we use it to find out not only which accounts are similar, but also to determine how likely an account is to be in the buying process and at what stage at any given time. From there, our model predicts which accounts you can start engaging with and how to do so.
Most marketing teams focus on generating pipeline rather than creating qualified opportunities. So, while B2B marketing teams contribute to about 80% of the pipeline on average, their contribution to revenue is only about 20%. Lost deals are not the biggest problem for B2B companies.
The alarming rise in deal inactivity rate across all industries over the past decade is the biggest issue that needs to be addressed. Opportunities in the pipeline that end up without a decision indicate the lack of data-driven MOFU and BOFU processes.
That’s why revenue teams need to start calling it a “QUALIFIED pipeline.” Not only to remind everyone on the team what it was supposed to be in the first place. But also to better structure the opportunity qualification process.
sales-pipeline-1024x576-3
What is a qualified sales pipeline?
A qualified sales pipeline or healthy opportunity pipeline means a list of accounts with a high probability of facing the problem you’re solving. And on top of that, these leads should list of telegram users in cambodia have recognized the problem and reached an internal consensus on the need for a solution.
Most sales teams work on accounts without having any idea if these leads understand the problem, let alone realize the need to solve it. Or if there’s a buyer group or buying committee that’s willing to buy. And this is the exact reason why 80% of all leads account for only 20% of revenue.
So how do you pick up on these signals to ensure your sales team is engaging with the right accounts? At Smartbound , we’ve designed a data-driven account qualification model for our clients. We collect current data from your customers, sales intelligence , CRM, and every other customer touchpoint to validate BOFU engagements with accounts. And we don’t stop there.
Historical data can be a goldmine of information, so we use it to find out not only which accounts are similar, but also to determine how likely an account is to be in the buying process and at what stage at any given time. From there, our model predicts which accounts you can start engaging with and how to do so.