Pipeline Management – Qymatix Sales Analytics Software
Managing a sales funnel is a critical operative sales planning job. To perform this, a sales leader needs three things: an overview of the general status of the sales funnel or pipeline. Second, a list of each plan or opportunity with details. Third, a set of Key Performance Indicators about the status of the sales pipeline.
In the pipeline analytics view, you can see the number of deals in your funnel or pipeline, the average size of a contract or opportunity, their close ratio (or deal win ratio), and their average lifetime (how old your deals, leads or opportunities are on average).
Besides, you can compare below the expected incoming orders versus your sales targets. This information is beneficial to understand if you are aligning your sales pipeline with your sales objectives and goals.
Remember that if you have precise information about the sales cycle and its length, you now have tremendous insight on how to plan your upcoming sales quarters and how to give specific guidance to your salespeople.
Moreover, once your sales planning process becomes evident, you can start to create a predictable sales pipeline and revenue stream for your organisation. Invest your time wisely and pay attention to those accounts that can yield the best results.
Each of your plans should have specific actions. You can access them next to each of your projects or opportunities and in a calendar tab in the sales activities view. This view will help you to understand the set of activities your sales force is currently undertaking. Do you want a tip? During your sales calls or coaching sessions, ask your Key Account Managers about their plans and how they are investing their time.
What is in a successful sales plan? Best practices in sales planning predict that planning is successful if there is a limited number of elements tracked in a sales plan. These should include an explicit name, a small number of pipeline stages, a management decision on whether to chase the opportunity, a human “chances” assessment, an estimated close date, a financial goal, and free-text comments. New opportunities should be associated with existing accounts or leads.
All these elements are present in a Qymatix sales plan or opportunity.
Qymatix Expert Tip: Look for “hot” deals in your funnel with no planned sales actions.
This online manual reflects the functionality of Qymatix Predictive Sales SaaS version 0.5.0. Variations may occur with more advanced versions of the tool.