Sales pipeline is essential for all sales managers. A strong LinkedIn sales pipeline is essential for you and your team to make their presence felt. In some cases, even your job may be at risk. Key business decisions are driven by the sales pipeline, including how you prepare and assess your reps.
LinkedIn is the most powerful platform for growing your sales pipeline. LinkedIn is easy to use and requires no introduction. It allows sales people to have more conversations with prospects and build trust.
This post will cover all the essentials of creating a sales pipeline using LinkedIn.
What is the difference between sales pipeline and sales funnel?
Many people believe that sales pipeline is the same thing as sales funnel. Both are different.
Your deals are the key to your business’s success. The sales funnel is all in the business leads.
The sales pipeline is simply a collection of all stages in the sales process. This should align with the customer’s journey.
The funnel is the process or stage that leads go through before they become your customers. These stages include awareness, decision making, interest, and an action plan.
What are the stages of the sales pipeline?
The stages of the sales pipeline vary from one case to another. They mainly depend upon your CRM and the buyer journey for your niche. Visit this link to get more info on LinkedIn Sales Pipeline.
However, you can categorize and organize your sales activities in different ways depending on your business needs.
Sales personnel must keep sales stages brief and to the point. This will allow prospects to move through the stages as quickly as possible.
The sales pipeline stages generally look something like this:
Qualifying and Discovery – In the first stage of the sales pipeline, the seller calls the new business lead to determine if the solution suits their needs. This is where a salesperson needs to consider the customer’s budget, and requirements.
Meeting – Next, contact the prospect and meet them to get a better understanding about their needs and wants. You should keep track of everything during this phase in your CRM.
Offer or proposal – Once your future client is identified, you can tailor your products or services to meet their needs. Describe how your products and services can be of benefit to them, as well as the investment and returns.
Negotiation – Now it is up to your prospect. They can accept or reject the offer. This decision depends on many factors but it often comes down to their overall financial budget.
Closing– If everything goes according to plan, the seller will close the deal and give the client’s details to the customer service department. This is for further processing or implementation. They will need to update the CRM with all details and work to improve the customer’s experience after purchase.
Remember that every company has a different sales pipeline stage. They are dependent on the solution provided and the buyer’s journey. This will make it easier to manage the entire process.
Your metrics are another thing that will help you build a strong and profitable sales pipeline for LinkedIn.
You should remember the following pipeline metrics:
Qualified Leads – This one is easy because you can’t close business deals without good leads. Keep a log of all your outbound and inbound leads. You will be able to ensure that you have enough leads for your sales team.
Conversion rate from MQL to SQL – How many marketing qualified leads are converted into sales qualified leads? This is a sign that your marketing and sales teams are not aligned.
Win percentage – Defines qualified leads that are converted into customers.
Customer acquisition costs – This is the amount you spend on marketing to attract new customers. Divide your total customer acquisition costs by the number of customers you have.
Customer lifetime value – This measures how valuable every customer is to your business.
After reviewing all performance indicators and the above-mentioned metrics you can now focus on the review of the sales pipeline. These are the details you should know:
LinkedIn: How to use your sales pipeline and Boost Sales
LinkedIn is the most trusted network for generating business leads and sales.
You will need to have all the data you can about your outreach campaigns and leads when you work on your sales pipeline.
Sometimes, however, it can be confusing when working with your CRM, LinkedIn Sales Pipeline.
This is where you must ensure that everything stays on the right track and is well-organized.
You can make better and more informed decisions about your LinkedIn business by getting timely information.
We’ll show you how to keep your sales pipeline organized.
Analytics and reporting quickly:
When it comes to sales and pipeline, data is of the utmost importance.
The metrics and stats of your sales pipeline will show you if your LinkedIn outreach campaign was successful. All reports and reviews should be available immediately to help you find new business opportunities, engage your business leads, etc.
LinkedIn’s sales navigator allows you to quickly view all information.
This feature allows you to easily identify which campaign generates the most sales leads. It also shows where your leads are coming from and how they respond to your inquiries.
This will determine the strength of your campaign and how successful it is in generating sales.
You can quickly and easily view sales insights and analytics from one place, making it easy to make informed decisions about your campaigns. You can quickly access data and analytics to determine which campaigns should be continued and which ones are best.
Conclusion
A strong marketing campaign will include a sales pipeline. It gives you an accurate picture of your company’s future performance and provides you with stats and data.
Finally, make sure you have everything in order and empower your sales team to manage your marketing and sales efforts efficiently.
We hope that this guide helps you create a LinkedIn sales pipeline that delivers results.
