Deals that have been stalled are as suffocating as a fishbone lodged in our throat; if not removed, they might cause serious issues. The longer a deal sits in a pipeline, the more mouldy it becomes. Isn’t it an awful scenario to witness a pipeline jammed with stopped deals? How long do you think you’ll be able to view it on the same stage? Isn’t it aggravating? Your agreement has loosened at one point, making you uneasy. If you don’t push the sale through, your performance will suffer.
But why do deals get stuck?
For a salesperson, the most disagreeable sight is a sales funnel with deals delayed at various stages. It just signifies that the deals aren’t moving forward. Deals can be stuck in the pipeline for various reasons, including there isn’t enough nurturing, attention, a streamlined qualification process, follow-up, trust and rapport with the prospects, etc.
The deals should be handled in real-time. You should seize any chance that comes your way. You can miss out on a great chance if you wait just a little longer. During the early phases of the sales process, prospects should be able to see the product’s value. Also, during the first few meetings with the prospects, it’s critical to establish a good connection and acquire trust.
The most crucial aspect is that the deals are qualified and labeled as hot deals at the appropriate moment. Prospects who do not require the product will, without a doubt, become trapped in the process. To keep a healthy pipeline, it’s critical to qualify deals and discard the bad ones. The longer a deal sits in the pipeline, the less likely it is to become a reality. As a result, efficiently manage your sales pipeline. Make sure you move the deals from one step to the next as quickly as possible. Following are some tips that can help you manage your sales pipeline.
- Dedicate time
Take some time out of your hectic schedule to focus on the deals that have been sitting in your pipeline for a long time. Your fresh opportunities should not be harmed due to the stagnating deals; therefore, create a method for approaching these deals by allocating a set time frame. Examine these deals and try to figure out why they aren’t being pursued. By calling them again, you can resume the previous chat and try to figure out what’s keeping them from moving forward.
- Maintain Your Concentration
Never change your priorities. We have a tendency to jump for bigger opportunities while ignoring our objectives. When you’ve set a goal for yourself, keep focused on attaining it. If you’re not distracted, you won’t be able to keep a deal moving forward. As soon as your focus is diverted, you will lose a transaction. So, to move your deals through the sales pipeline successfully, stay zealous about them.
- Push Deals Forward With A Little Nudge
The importance of follow-up in sales cannot be overstated. One of the main reasons deals get stuck in the pipeline is a lack of follow-up. It is vital to follow up with the prospect regardless of where they are in the sales cycle. After one follow-up, most salespeople give up and move on to other opportunities. Those deals get caught in the system and eventually fall through the cracks. As a result, a little nudge is required.
With a big to-do list and numerous deals to pursue, follow-up may appear to be a tedious process. However, there is always a clever approach to complete tasks swiftly. The majority of modern CRMs allow you to automate your follow-up. To follow up with your prospects, you can build a sequence of emails and messages. However, it would be best if you use extreme caution when designing these sequences. A lot of nudging could irritate the prospect. As a result, you must know when to call it a day and cut the ties.
- Examine The Stages And The Deals
It’s time to bring your sales pipeline to a close. Examine your sales pipeline and make sure everything is in order. Prioritize your deals according to their worth. Examine each stage of the sales pipeline separately. See which deals have been stuck for a long time. Using CRM software, you can have different segments to gain more clarity:
- The first segment can include all deals with a high value (The Big Accounts).
- Deals that have a chance of converting into sales can be found in the second segment.
- Deals in the third segment can sit in the pipeline for a long time.
- Deals in the fourth segment may be in the early stages of the sales process.
Mention the phases at which the deals are in order to determine which stage requires greater attention. It will be easier to plan ahead for moving the blocked deals after the transactions have been streamlined.
To efficiently manage your sales funnel and deals, choose the best CRM software. FinCRM is the best sales management solution that can help you obtain complete control over your sales pipeline. You can create many pipelines and change the names of the stages to suit your needs. It enables you to keep track of the progress of your agreements and helps you take action in real-time.