Pipeline management. What is it and how can you keep your leads and prospects from falling through a crack? You must ensure your pipeline isn’t leaking, and to do this, you’ll need to take advantage of Dynamics CRM. From analyzing lead demographics to developing new communication methods, Dynamics CRM enhances the pipeline management process.
What is killing your pipeline?
Do you feel that no matter how much information you push into your pipeline that the benefits are scarce? If so, you need to identify your pipeline killers, which are likely any of the following:
1) Stalled leads
When leads are pursued on a quick basis, they tend to become stalled, and as everyone knows, stalled deals convert at a much lower rate. This means all prospects in your pipeline deserve regular contact.
2) Non-linear stage leaps
When your leads go through the pipeline with no direction, they will likely stay in the pipeline or be lost. You must match your pipeline according to a linear progression that is in sync with your buyer’s journey. Without linear progression, your leads are much less likely to convert.
3) Changes in size of deal
When you change the size of the deal for a lead more than three times, they are not likely to make a positive purchasing decision. Managing your pipeline effectively involves pinpointing these leads, flagging them, and assessing whether or not to let them stay in the pipeline.
4) Opportunity is too large
Do you have leads to which you offer huge deals? If so, you should calculate just how large the deals are. For deals that are three times more valuable than your average deals, these leads aren’t likely to close, so you need to make sure you identify them before altering the plan three times. As stated above, once the deal value changes three times, this leads to the likelihood that the deal won’t close.
5) Loss of pipeline activity
In order to keep your pipeline flowing, you must regularly add leads and opportunities to it. If you aren’t, the pipeline becomes stale and eventually won’t have any movement.
The Importance of Microsoft Dynamics CRM
It’s with Microsoft Dynamics CRM that you can easily create sales dashboards that hold all pertinent pipeline information. Giving you simple access to this information allows you to use the CRM to meet all of your pipeline management needs. And not only can you use the information to identify the current progress of leads, but Microsoft Dynamics CRM allows you to look at projected revenue from opportunities in your pipeline. From a visual view of your sales pipeline to your open opportunities, open leads, and even your top customers, Microsoft Dynamics CRM simplifies the operational activities involved in pipeline management.