The Sales Pipeline Velocity Calculator helps managers identify opportunities to grow their businesses, by identifying potential improvements with their sales process.
The data’s value is really in its benchmark-ability, and its ability to incite 4 big-picture questions around sales growth strategy, namely:
- ‘How can we reduce our sales cycle time?’
- can we attract more clients when they are ready to buy, rather than always going out and building leads?
- ‘How can we increase our close rates?’
- is this a training issue, or are there other forces affecting our close rate?
- ‘How can we increase the number of qualified leads that we’re managing?’
- can we identify alternate, cost-efficient forms of marketing or sales that will bring leads to our team?
- ‘How can we increase our average sale?’
The Sales Pipeline Calculator provides useful insights when tracked over time, relative to the same business unit.
- increasing the number of qualified leads
- closing the leads currently in the pipeline
- adding more staff, increasing the average sale value
- or influencing the length of the sales cycle
Because the data provided by the Sales Pipeline Velocity Calculator is unique to your business, it serves as a useful internal benchmark regarding sales progress. It can also be used with a fair degree of confidence to compare the sales-pipeline health of two or more similar SBU’s or branches.