How To Analyze Your Sales Pipeline and Track Sales Effectively

A strong grasp of your sales pipeline is critical to your company’s success. Effective sales management means you know exactly what actions to take at each point in your company’s sales cycle.

Working in sales can sometimes feel like a circus act. You’re keeping dozens of deals in the air at a time. Each of them are at different stages, and every client has specific needs to serve. Plus, the pressure of meeting your monthly quotas might compare to holding the spotlight under the Big Top. But while juggling several balls, pins, or chainsaws may seem like an impossible feat of dexterity, maintaining your sales pipeline doesn’t have to be. With the right tools, you and your sales team can get a grasp on how each deal progresses and track those relationships through to their end.

No matter what industry you’re in, your sales team moves deals through a few well-defined stages. If you’re a seasoned sales pro, you know what these common steps in the process are. They include Prospecting, when you sort through a broad range of leads to find strong potential business matches, and the Quote stage, when you’re responsible for giving your company’s prices to your possible customer. No matter what, the deal is either Won or Lost at the end.

Sales Pipeline

Your business should be able to monitor how your prospective deals move through the basic series of stages, along with any additional steps specific to your company or industry. Applied to your entire roster of potential customers, that’s an overwhelming volume of data to track. Talk about a juggling act!

Arm your company with an effective customer relationship management tool like Base, and you won’t be tackling the sales circus alone.

The best CRMs will offer you oversight of your sales pipeline, letting all of your sales reps know where they stand in terms of their quotas. Plus, managers can access the figures for all of their team members. 

A bird’s eye view of your sales team’s performance is crucial when making decisions about training or long-term planning.

When you have an illustration of your deals in progress, the circus act becomes more manageable. Knowledge is the key to better understanding your sales pipeline and to maximizing your sales performance. You need it to manage existing deals and keep an influx of new relationships. With data at your beck and call, you’ll be able to analyze how your business grows, which reps are your top performers, and how many of your deals make the entire journey from prospect to won.

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Rachel Serpa

Rachel Serpa

July 28, 2016

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