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Imagine yourself as the captain of a ship. Rather than spending your time watching the horizon worrying about the weather, you would want to get your ship there and back safely. Similar is the drive of those handling company sales projects. They want to do a good job by managing the different operations like sales activities, identify areas of coaching, and determine how to win more deals. The key to doing that is to establish a robust pipeline management system to complete each activity smoothly. Therefore, it is imperative to build a healthy pipeline so that the rough seas are never able to force you to abandon your ship.
Apart from sales, pipeline management is used in different areas like CRM, business development, customer application, recruitment, banking, and more. Surveys have found that businesses with ineffective pipeline management practices showed an average growth by a factor of 4.3, while those with efficient practices showed an average growth by a factor of 5.3 with almost a 15% increase in revenue. Moreover, the organizations that had gotten a hang of it saw a 28% growth in revenue.
What is Pipeline Management?
Pipeline management is a subsidiary of project portfolio management. It ensures that an adequate number of project proposals are generated or evaluated to determine whether (or how) a set of projects can be executed with finite resources in a specified time.
Knowing the art of managing your ever-growing pipeline is imperative as it guides you through the qualification process and helps you maximize your potential. With the importance of pipeline management, we have included four tips that will help you manage in a more focused, disciplined, organized, and deliberate manner.
Define the process intellectually
If you aspire to complete your project successfully, map out a process beforehand. For instance, in sales, it takes some time to craft a well-thought process that perks your customers internally as well as externally. Keep the process flexible for change as you may need to update it according to the feedback received.
Organize the pipeline
Cluttered data never produces excellent results, so keep your pipeline organized to expeditiously forecast the actual results. The success of many business organizations has unleashed the secret of a well-organized database. Give proper time for robust pipeline management.
Update the information
Do not risk your information and add updates simultaneously in the pipeline to keep your database up-to-date. Like in sales, the employees are habitual of putting their sales-related updates into the pipeline in batches. Stop them right away!
Train the practitioners
Last but not the least, train your employees on the usability of pipeline management and empower them to make dramatic improvements in their performance. Sound knowledge of pipeline management will improve the ROI of the organization. Therefore, plan a few training sessions for the staff.
Start paying heed to pipeline management and achieve the perks of success. Explore our top 25 pipeline management templates to effectively manage your projects and feel more in control of the desired outcome.
This template will help you track and manage all sales opportunities through every stage. Use it to successfully close your revenue-producing contract. The template is easy to edit. Download it to organize, track, and manage.
A project manager faces plenty of roadblocks. Therefore, it is paramount to get future-ready for pipeline projects and overcome these hindrances. Download this template to access the project scope and feasibility for bridging the existing skill gap.
A sales campaign pipeline includes the steps that you need to take for turning your potential customer into a loyal patron. This innovative template will help you calculate the number of open deals and the ones that need attention. So grab it now!
In most CRM systems, the term pipeline management elucidates a process of overseeing and directing future sales. This template will help managers tackle various questions on the concept. Therefore, download and edit it as per your requirement.
This pipeline management template includes different opportunities that occupy a designated stage within the sales cycle. Therefore, choose it to track and manage the activities associated with each stage. Download and use it right away!
This well-designed pipeline template displays the sales opportunity data to focus on converting leads. Pick this design and create a strategy that focuses on the narrower part of your opportunity funnel.
This template includes four steps to ensure that an adequate number of project proposals are generated, evaluated, and screened. Download the design to effectively meet your company’s strategic objectives.
Manage your sales inventory for a smooth closure of leads with this template. It helps you create a pipeline and find the exact sales win rate percentage. Download and use it to spellbind your audience.
Create a sales pipeline management dashboard by establishing a comparison between the prospective and converted leads. The template helps you find the close-ratio and work on the loopholes. Therefore, download and use it multiple times.
When a company does not hit a goal, it tends to blame the competitors. But the reality is that “no decisions” in a sales pipeline is the reason for all the damage. Pick this researched template to establish a won and lost sales dashboard. This comparison will help you make correct decisions for the future.
It is critical to determine if your business is pursuing the right amount of leads to sustain or grow the company. This business development template can be used to categorize opportunities and efforts. Therefore, download this content-ready template now.
Opportunity scoring is a way to prioritize feature development by clearly identifying the product features that customers consider important. Besides, this template will help you understand how good or optimal a product is for selling. So download this template and create an effective pipeline management process.
This template design includes a smart art that shows the practices related to pipeline management. So download this easy-to-edit template and enhance your business processes and procedures.
In customer relationship systems, pipeline management acts as a process of overseeing and directing future sales. You can segment the pipeline as demographic and base. The template is editable, so you can modify the content as per your company. So download it immediately.
This template can be used to manage your pipelines effectively so you can track and evaluate the activities associated with each stage. Download the slide and close all your pending deals.
Performance engagement is the process with which employees and their supervisors set work goals. Pick this template and create a performance expectation pipeline. Download the design and edit smoothly.
This template gives a visual snapshot of where the prospects are in the company’s sales process. Calculate the difference in revenue, and focus on converting more leads. Download and use this pre-built template to create a standardized sales process.
Create a gradual, comprehensive, and holistic process pipeline to generate demand for the existing business products and services. Marketing departments can employ this template to create awareness and interest in the company’s offerings.
It is crucial for a business to create a project pipeline strategy for fulfilling its strategic objects. Choose this four-step pipeline management design and edit it as per your process strategies. Download and captivate your audience.
Use this template to manage your sales pipeline by following steps such as taking regular follow-ups, focusing on best leads, dropping dead leads, monitoring pipeline metrics, reviewing pipeline processes, updating pipelines, and more. Share an overview of the sales pipeline with your employees by introducing this professionally-designed template.
This template presents the key performance indicators to measure your product’s performance accurately. So download it and understand if your product is meeting the business goals and product strategy.
Return management is a process used in retail and e-commerce that involves interfacing with the customers who wish to return their products. Create a supply reverse logistics pipeline for your company with this well-presented template.
Showcase your company’s project pipeline report with this impactful template design. Download and help your managers with a quick assessment of each project’s status and health across the department.
A sales pipeline is vital for the company to measure and show what a seller is doing during the entire process. This ensures that the lead turns into business opportunities. Therefore, use this template design to meet the target quota.
When HR personnel is recruiting for several positions at the same time, it is difficult to stay on top of things. This recruitment pipeline template will give the hiring managers a snapshot of how the recruitment process is performing. Therefore, download and utilize it for your company.
In this competitive world, a new company makes a similar product like yours every other day. So to survive this rat race and stand out, pick the best pipeline management template and improve your company’s management.
You can also check out our CRM templates to manage your clientele effectively.