Sales Pipeline Development: Maximum Results from Minimum Effort
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The document provides tips and strategies for developing an effective sales pipeline with minimum effort. It recommends understanding customers, products, and objectives before planning; using existing resources before spending money; regularly reviewing and adjusting priorities and execution; firing many small targeted communications; actively and openly managing the pipeline; and making pipeline discipline an ingrained habit. The presentation also includes templates for defining customer targets, mapping the sales process, calculating lead and opportunity metrics, developing customized messaging, and tracking referrals.
Sales Pipeline Development: Maximum Results from Minimum Effort
- 1. Pipeline Development: Maximum Results with Minimum Effort Matt Heinz President, Heinz Marketing Inc matt@heinzmarketing.com @heinzmarketing
- 2. Housekeeping • Copy of this deck • Offers for you – 10 minute brainstorm – Successful Selling – Successful Social Selling • Give me a business card at the end with what you want – It’s that simple…
- 3. Last Slide First 1. Understand your customer, product & objective before planning (let alone executing) 2. Use the resources you already before spending money 3. Review & assess/adjust your priorities, focus areas and execution at least weekly 4. Fire lots of bullets 5. Manage actively and openly 6. Work to make pipeline discipline a subconscious muscle
- 4. Four steps to a better plan 1. Do the math (quantify what success looks like) 2. Create a clear customer profile 3. Map the sales and buying process 4. Plan to fire lots of bullets
- 5. Every initiative is filtered through: • Customers • Products • Objectives
- 6. Prospect Engagement Funnel Customer Targets (based on persona profiles) Next Step Accelerator Ideas Network-exclusive access to content Network / Open Community Value-added special offers Channels: Twitter, Facebook, Blog, LinkedIn Discovery events Goal: Drive Registration White papers, top ten tips, etc. Drip Marketing Testimonials, Success Stories Channels: Email Newsletters, CRM System Profile-Specific Messages Goal: Drive Active Prospects New product/service offers Active Sales Cycle New Opportunity Alerts Channels: CRM, 1:1 1:1 with Existing Customer Goal: Sell In-Market Events New Referral & Tell-a-Friend Offers Customer Network / Community Invites
- 7. Calculating what you need Assumptions Product A ASP $ 15,000 Product B ASP $ 50,000 Opp/Close % 33.0% Lead/Opp % 10.0% Product A CPL $ 15 Product B CPL $ 35 Q1 2010 Q2 2010 Q3 2010 Q4 2010 TOTALS Product A Sales # 50 56 63 69 238 Product B Sales # 8 9 10 11 38 Total Sales # 58 65 73 80 276 Product A Sales $ $ 742,500 $ 841,500 $ 940,500 $1,039,500 $ 3,564,000 Product B Sales $ $ 412,500 $ 453,750 $ 495,000 $ 536,250 $ 1,897,500 Total Sales $ $1,155,000 $1,295,250 $1,435,500 $1,575,750 $ 5,461,500 Product A Pipeline # 150 170 190 210 Product B Pipeline # 25 28 30 33 Total Pipeline # 175 198 220 243 Product A Pipeline $ $2,250,000 $2,550,000 $2,850,000 $3,150,000 Product B Pipeline $ $1,250,000 $1,375,000 $1,500,000 $1,625,000 Total Pipeline $ $3,500,000 $3,925,000 $4,350,000 $4,775,000 Product A Leads 1500 1700 1900 2100 Product B Leads 250 275 300 325 Total Leads 1750 1975 2200 2425 8350 Product A Lead Budget $ 22,500 $ 25,500 $ 28,500 $ 31,500 Product B Lead Budget $ 8,750 $ 9,625 $ 10,500 $ 11,375 Total Lead Budget $ 31,250 $ 35,125 $ 39,000 $ 42,875 $ 148,250
- 8. Marketing plan in 5 questions 1. What/who are your targets? 2. What do they care about? What outcome are they seeking? 3. Where do you find them? 4. What or who influences them? 5. How do they want to engage and (eventually) buy?
- 9. Management essentials • Roles & responsibilities • Triage • Scorecards • Meeting rhythm • Transparency and trust • Track to the close
- 10. 5 tips for better customer-centric sales 1. Use “you” instead of “I” 2. Treat the first sales call like an interview 3. Align yourself with existing customer priorities 4. Respect their time 5. Let your current customers sell for you
- 11. Custom messages by role Audience Drivers Pain Points Value Propositions(bullet points) Key Messages Vertical #1 CEO IT/CIO CFO CMO Audience Drivers Pain Points Value Propositions(bullet points) Key Messages Vertical #2 CEO
- 12. Customer targets • Direct and indirect users • Influencers • Address entire buyer ecosystem • Map the full purchase path – Personas & scenarios for training – Translate to SPIN selling questions
- 13. Why do you need a pipeline? • Most leads aren’t sales ready • You can’t focus on everything • The right message at the right time • Maximum sales, minimum work
- 14. How to approach your pipeline • It’s a pipeline (but your prospects shouldn’t know that) • Differentiate from your competitors • DO NOT SELL • Automate as much as you can
- 15. Keys to effective pipeline execution • Use a lead management system • Clearly define lead & opportunity stages • Focus on great content • Make it easy for prospects to self-select and move forward
- 17. Spreadsheets can work too • Use your consistent lead & opportunity stages • Track last activity, social profiles, etc. • Review & update regularly
- 19. When prospects go dark… 1. Try a different channel 2. Try a different contact 3. Share something unrelated 4. Try a different angle 5. Engage their influencers 6. Move on
- 20. Don’t forget… matt@heinzmarketing.com
- 21. Last Slide Last 1. Understand your customer, product & objective before planning (let alone executing) 2. Use the resources you already before spending money 3. Review & assess/adjust your priorities, focus areas and execution at least weekly 4. Fire lots of bullets 5. Manage actively and openly 6. Work to make pipeline discipline a subconscious muscle
- 22. Questions?