Online businesses run on converting prospective leads into customers. Leads generally help to observe the quality of services and support the company provides. The leads are approached with the various strategies and services and then converted into customers.
The whole process of tackling leads and turning them into customers is known as customer acquisition and this is where the Sales Pipeline Feature in CRM software comes into the picture. It enhances the navigation among the leads and helps to turn many of them into sales.
The SPF has several stages of implementation and reaps out various benefits for an online business to grow seamlessly.
Stages of Sales Pipeline
Take a look at the details of the stages of the Sales Pipeline in CRM software. These stages are no rocket science but do need a strategic approach.
Converting prospects of the lead
The primary step of prospecting the leads is to jot down their contact details. This is generally accessed through the following:
- Campaigns on social media
- Email marketing
- Online advertising
- Cloud outreach
- Content marketing
The level of acquiring the contact details from the leads can be divided into three parts.
- Basic targeting: Targeting leads through all the mediums that we have talked about here.
- Secondary targeting: Checking the mediums that bring most leads into the CRM software.
- Optimizing selected targets: Optimizing the performance on the selected mediums that attract most leads.
Setting a relationship with the leads
The second stage of the sales pipeline deals with setting up basic communication with the lead. Email dripping helps in executing the process in a more convenient fashion.
- Introduction to the company
- Types of sales and services
- Providing a case study of the company
- Basic pitching and summon for consultation
Apart from email dripping, webinars also help to execute this state of sales pipeline efficiently.
Setting up a meeting with the leads
Once a lead comes to know about a business organization and the services it provides, it is considered as a prospect. The third stage deals with meeting the prospect with an agenda, sales report, and the list of services with the primary aim to convert it to a successful sale.
Most businessmen take a professional approach to manipulate the prospects. They study the prospect’s necessities and pitch the idea or offer accordingly. Upon every successful meeting, a prospect can turn into a potential customer.
There are several meeting sessions where an organization makes a proposal of selling their service to the prospect. If the prospect shows interest in the proposal, it can turn into a client without a lot of further effort. However, if the lead does not show interest, the organization has to plan and strategize further negotiations.
Generally, sales negotiation between the potential client and a provider is undertaken if the former is not 100% satisfied either with the charges or the terms placed by the latter. In such situations, the concerned business should check all the aspects of sales and make relaxations on charges, terms, and services accordingly.
After a successful negotiation, a lot of aspects might differ from the initial proposal but in most cases, the relaxation works.
Closure of the deal
This step is the ultimate goal for the service provider as all the negotiations and changes in strategies finally pay off. However, there is still one factor that businesses should keep in mind: the after-sale service.
Post-sale repute needs to be uncompromised to ensure that the client is not one-time. Post sale repute helps in reputation management to a great extent and guarantees that the client flocks back to the business for the said services.
Benefits of Sales Pipeline Feature in CRM
Sales Pipeline Feature for CRM offers some outstanding benefits. Here are some that you need to know about:
- The SPF is a fully-automated process within a CRM (Customer Relationship Management) software.
- Proper sales pipeline increases the chances for an online business organization to get customers.
- SPF allows potential clients to know about a business organization and all the services it provides.
- It enhances the connection with several leads and creates an excellent back-up process.
- You can expect to get a fully systematic marketing process with the help of Sales Pipeline Feature in sales CRM.
- New entrepreneurs get clear knowledge regarding the online market and set effective strategies accordingly.
- SPF helps every online businessman execute a successful sale conversion in less time.
Since a large part of the market has already shifted to the digital world due to technological advancement, an SPF-enabled CRM tool is the primary feature any organization must invest in.
Also Read: CRM 101: What is CRM and How it can Benefit Your Business
A new entrepreneur can expect excellent overall management of the business and churn out a satisfactory profit in a specific period. However, the organizations must also research thoroughly and compare several SPF-enabled CRM tools before choosing one.