Pipeline visibility is the ability of a company to look at their sales pipeline, and clearly see the progression of opportunities within that pipeline from the first attempt all the way through to the close of the deal. The lack of full pipeline visibility is a common problem among companies, and the main reasons for that are threefold.
The first cause is in the area of the process. Problems in the process often break down into core problems of communication. If the entire company isn’t communicating and speaking the same language then it is especially difficult to gain complete visibility of the pipeline. Utilizing a common language to discuss opportunities and leads is crucial to ensuring good communication practices and high pipeline visibility.
The second cause lies in the area of people. Oftentimes, there are vast inconsistencies in the amount of time spent with the sales team each week. This time is highly important to developing high pipeline visibility. Without a consistent communication scheduled it’s difficult to have an idea of where pipeline opportunities are and how to coach the team to take those opportunities to the next level.
The final challenge is within the area of tools. Companies are plagued by sloppy, undefined and undisciplined use of CRM systems. This under-utilization of resources makes it difficult to get a clear view of the overall sales pipeline.
EBQ eliminates difficulties in pipeline visibility
EBQ eliminates difficulties in pipeline visibility by addressing each of these three problem areas individually. We solve the process problem by assigning a tailored ten-point rating system to each prospect from the very first contact. That rating provides clear, concise language to show everyone looking at the prospect where it stands from the first attempt at setting an appointment. We also extensively train our sales representatives in a range of sales methodologies. To our customers, this means that our teams can blend seamlessly with yours without encountering troublesome language problems. If your organization doesn’t currently have a sales methodology, we can provide one that fits. Communication is effortless when everyone is using a unified language to discuss opportunities.
The second problem area, people, we address through weekly opportunity reviews. During these reviews, sales management sits down with our sales representatives and goes through their current sales cycles. This allows the sales management team to not only have full knowledge of the overall sales processes within the pipeline, it also allows sales management to provide targeted coaching to each member of the sales team to make sure that each opportunity is brought to the next level. The continual improvement guarantees best practices are utilized both within EBQ and with our client companies.
The last area is tools. We address special fields in Salesforce.com in a way that allows you not only to have full visibility of the systems but also to perform disciplined updates of the systems. This is a key aspect of utilizing the tools properly and avoiding missed sales opportunities.
At the end of the day, many clients who have worked with us have said that one of the biggest benefits of working with EBQ has been that we’ve been able to deliver even better pipeline visibility than they have with their own internal sales representatives.