What is a visual sales pipeline?

A sales pipeline is a visual representation of sales prospects, purchasing process and specific actions at each stage. In the pipeline view, deals are categorized by the sales stages. This allows your team to develop a clear understanding of your sales momentum and priorities, and refocus efforts accordingly.

This visual representation is usually offered as a part of the company’s CRM and ERP system.

Benefits

The visual sales pipeline is designed with simplicity and speed in mind.  Its goal is to give you an overall picture of all your opportunities and revenue items at once.

It tells you which stage you are in, which need your attention to reach the goal and how close you are making a quota.

It is easy to use. You can move leads smoothly from one stage to another with a simple drag and drop function, and mark leads as won, lost, or canceled.

Companies and especially startup companies will benefit from its step-by-step guide to systemize their processes. As a result, companies that master pipeline management sees higher revenue growth in their business.

Pipeline stages

Typically buying process goes like this:

  1. awareness (lead)
  2. consideration (prospect)
  3. decision (customer)

For example, PlanMill has pre-defined sales stages which can be fully customized to fit your unique sales process:

  1. Identified – The company gets lead from contact, cold call, website, etc.
  2. Validated – The company recognizes the lead as a prospect.
  3. Qualified – The company qualifies the deal and provides a solution.
  4. Quoted – The company sends a quote to the prospect.
  5. Won – The customer accepts the quote.
  6. Lost – The customer rejects the quote.
  7. Suspended – The customer has suspended the process for the time being.

Stages differ from company to company. Add as many sales stages, team members or activity types as you need. Filter your pipeline by rep, product or stage, or have one for each team member.

The more complex your product or service is, the longer your sales cycle will take – and the more stages there may be.

Conclusion

A visual sales pipeline is a must-have solution for your professional service company. It systemizes your sales processes and gives you an overall picture of all opportunities and revenue at a glance. Companies that use this solution see higher revenue growth in their business.

PlanMill Ltd.

PlanMill is a leading provider of user-friendly web-based CRM, PROJECT and ERP Cloud solutions designed for the service business. We enable organizations to streamline business processes, improve control of their customers, personnel, projects, and finance – while enhancing productivity and profitability.

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