{"id":839,"date":"2022-01-18T12:44:20","date_gmt":"2022-01-18T10:44:20","guid":{"rendered":"https:\/\/machete.co.za\/machete-custom-theme\/?p=839"},"modified":"2022-04-05T12:35:49","modified_gmt":"2022-04-05T10:35:49","slug":"how-an-effective-pipeline-can-increase-revenue-growth-by-28","status":"publish","type":"post","link":"https:\/\/machete.co.za\/machete-custom-theme\/how-an-effective-pipeline-can-increase-revenue-growth-by-28\/","title":{"rendered":"How an Effective Pipeline can Increase Revenue Growth by 28%"},"content":{"rendered":"<h3>How an Effective Pipeline can Increase Revenue Growth by 28%<\/h3>\n<div class=\"vc_row wpb_row section \">\n<div class=\" full_section_inner clearfix\">\n<div class=\"wpb_column vc_column_container vc_col-sm-12\">\n<div class=\"vc_column-inner\">\n<div class=\"wpb_wrapper\">\n<div class=\"wpb_text_column wpb_content_element \">\n<div class=\"wpb_wrapper\">\n<p><strong>Your sales pipeline encompasses every stage in your sales cycle \u2013 a visual representation of your sales prospects and where they are in the buying process, covering every action from initial contact through to closing. If set up and followed correctly, a pipeline\u00a0can result in significant revenue growth, according to a new study by Hubspot.<\/strong><\/p>\n<\/div>\n<p>Though the sales process will differ from company to company, the basic steps for building a solid pipeline remain the same:<\/p>\n<ul>\n<li>Define the stages of your sales cycle<\/li>\n<li>Determine how many opportunities typically move on to the next stage of the cycle<\/li>\n<li>Calculate how many opportunities you\u2019ll need at every stage to reach your revenue goals<\/li>\n<li>Identify the common characteristics of opportunities that convert at each stage of the cycle \u2013 including rep actions and prospect responses<\/li>\n<li>Create or adapt your sales process around these numbers<\/li>\n<\/ul>\n<h3>Pipeline Stages<\/h3>\n<p>The first step to building a successful pipeline is determining the stages of your sales cycle, which should mirror the typical buying process prospects go through. While the quickest way to do this is usually to copy a template, the most effective way is to develop your own. Especially when marketing to C-Suite executives, special care must be taken to ensure that your sales cycle matches the process they would typically go through.<\/p>\n<p>The typical buying process takes prospects through:<\/p>\n<ol>\n<li><strong>Awareness<\/strong>\u00a0\u2013 realizing a pain point or opportunity<\/li>\n<li><strong>Consideration<\/strong>\u00a0\u2013 developing their evaluation criteria and needs and researching potential approaches<\/li>\n<li><strong>Decision<\/strong>\u00a0\u2013 finalizing their strategy and comparing solutions<\/li>\n<\/ol>\n<p>Once you have an idea of your buyer\u2019s journey, you can determine the stages of your sales cycle, which may be something along the lines of:<\/p>\n<ul>\n<li>Initial connection: the prospect engages with your company \u2013 opening an email, attending a webinar, or downloading content from the website<\/li>\n<li>Setting an appointment: the prospect agrees to a meeting to learn more about your product or service<\/li>\n<li>Completed appointment: the meeting went well and you have confirmed the next steps<\/li>\n<li>Proposing a solution: the prospect is interested in your product or service<\/li>\n<li>Sending a proposal: the prospect reviews the proposal or contract<\/li>\n<\/ul>\n<p>A more complex product or service will result in a longer sales cycle, potentially with more stages, including further education.<\/p>\n<h3>Why You Need a Pipeline<\/h3>\n<p>Unlike a sales funnel, which is just a theoretical depiction of the buyer\u2019s journey, a sales pipeline defines the specific actions that should be taken at each point in the journey to ensure higher conversion from leads to sales.<\/p>\n<p>If set up correctly, your pipeline can also highlight opportunities that you expect to close and when you will close them.<\/p>\n<p>Knowing which actions to take at each point in the buyer\u2019s journey is vitally for important for improving close rates, and, in a survey of\u00a060 large B2B companies conducted by Hubspot, *companies that master pipeline management see 28% higher revenue growth. Companies that\u00a0had clearly defined sales processes with defined sales stages had 18% greater revenue growth than those that didn\u2019t.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>How an Effective Pipeline can Increase Revenue Growth by 28% Your sales pipeline encompasses every stage in your sales cycle \u2013 a visual representation of your sales prospects and where&#8230;<\/p>\n","protected":false},"author":1,"featured_media":840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[546],"tags":[],"class_list":["post-839","post","type-post","status-publish","format-standard","has-post-thumbnail","category-digital-marketing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How an Effective Pipeline can Increase Revenue Growth by 28% - Machete Marketing<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/machete.co.za\/machete-custom-theme\/how-an-effective-pipeline-can-increase-revenue-growth-by-28\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How an Effective Pipeline can Increase Revenue Growth by 28% - 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