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The Challenge with Pipeline Data & Reporting
Catherine Schalk • Jun 01, 2023
Your sales pipeline is your business's lifeline
Sales leaders are under immense pressure to make sure they have quality pipelines with enough coverage to hit the numbers. If your pipeline is strong and the deals are flowing, it means the business is growing. But whether you have a strong pipeline or not, the challenges with managing the pipeline are similar, especially when it comes to reporting and data hygiene.
Top Challenges with Pipeline Data Today
- CRMs and dashboards make it easy to create complex metrics however, poor pipeline management hinders actionable insight. The greatest technology in the world is not going to be helpful if no one is looking at the data and reports, or if they simply don’t understand how to translate the information into a plan.
- Sales leaders lacking pipeline hygiene have trouble communicating and forecasting. Without a clear understanding of what good pipeline health looks like, it becomes much more challenging to drive performance and hold other departments accountable. With a lack of accountability comes a lack of order and efficiency. Before you know it, all your salespeople are doing their own thing and it becomes increasingly difficult to get everyone back on the same page.
- We tend to have too many metrics, which can lead to metric tension. Pipeline metrics can be confusing if they are not built by hierarchy. A sales rep may be responsible for reporting certain metrics from their pipeline management to their direct manager, while that manager will then have to go and report a different set of metrics to the CEO or executive overseeing the sales department.
Recommendations
- Create a monthly cadence where the sales leaders and operations team balances sharing pipeline insight, and top line goals. Alongside this, consider instituting designated pipeline days throughout the month where sales reps can focus on cleaning up the pipeline and better understanding opportunity risk associated with not having a firm control of their sales leads.
- Standardize reporting with 3 to 5 reports focused on facilitating pipeline clean-up for both managers and sales reps. Also ensure that regular check-ins are scheduled and conducted to monitor progress and review any notable findings from the reports.
- Build credibility with the rest of the organization by creating more accurate forecasting that aligns with other key functions. As with anything in life or business, people respond best to an initiative when they understand not only the why behind it, but also how it is going to directly impact them in the process.
- Build metrics focusing on efficiency that look at progress through the pipeline and effectiveness (selling at the right level). No one wants to waste their time or resources speaking with prospects who are not the actual decision makers. The faster your salespeople can get in front of the right person, the higher their conversion ratio will be and the shorter the sales cycle will become.
Your sales pipeline is one of the most important parts of your business. The better you know your pipeline, the better you can manage and predict your business.
Do you want to get a better idea of the health of your pipeline and improve forecast accuracy? We can help. Contact us today to help you start better defining the health of your pipeline and addressing some of the many challenges that you face to establish your sales pipeline metrics and cadence.
SMART goals prevent unnecessary mistakes.
Whether it be a virtual, face-to-face, or hybrid kick off, one of the most critical components in achieving event objectives is content. From videos and panel discussions, to award ceremonies and presentations, content must be engaging, effective, and well designed. But the brutal truth about sales kick off content is that there is a belief it doesn’t matter – anything will do. There is little investment made in the appropriate time and effort into creating a world class experience for sellers and presenters when it comes to content. In a world where your audience and participants are increasingly looking toward well-designed content, you cannot afford to keep looking at the creation process like a simple chore or leaving it entirely up to each presenter to simply show up with their presentations. We have worked with many companies to help them deliver world-class content on countless presentations and we want to help you accomplish the same. One of the key ingredients to world-class content is that it must be reality-fueled. In today's fast-paced and attention-seeking world, it's easy to get caught up in the allure of flashy visuals, gimmicks, and over-the-top presentations. However, when it comes to delivering a truly impactful message, it is essential to ground presentations in reality. Tips for creating reality-fueled content: Know your audience: Understand their needs, challenges, and interests so you can tailor your message accordingly. Craft a compelling narrative: Use storytelling techniques to create an emotional connection and engage your audience on a deeper level. Use real-world examples: Draw from relevant, relatable, and tangible experiences to illustrate your points and make them more memorable. Keep it real: Don’t sugar coat things unnecessarily, never lie to your audience, and avoid fancy jargon and words. Simplify and clarify: Break down complex ideas into digestible concepts your audience can easily understand and remember. Rehearse, rehearse, rehearse: Practice your presentation until it becomes second nature. This will help you deliver your message confidently and authentically. According to Harvard Business Review, great presenters rehearse and put in hours of deliberate practice to refine their skills and messages. And that’s not all… When preparing a reality-fueled presentation, where the focus is on delivering a clear and authentic message, presenters must not only craft compelling content but also consider their own presentation style and capabilities. By bringing these elements together, presenters can enhance their ability to connect with the audience, establish credibility, and create a lasting impact. Let’s take a look at the basics here: Presenters and content creators need to understand the speaker's presentation style. Every presenter has a unique style that reflects their personality, strengths, and communication preferences. Identifying and embracing your presentation style is vital to delivering an authentic and engaging performance. If you are a content creator, leverage the presenter’s current capabilities. Understanding a presenter’s capabilities allows a content creator to leverage the presenter’s strengths and deliver a more impactful presentation. While it is important to adapt to your presenter’s style and capabilities, it is also crucial to consider the audience's preferences and receptivity. Adapt your style to align with their expectations and needs. Research your audience beforehand to gain insights into their demographics, interests, and knowledge level. Tailor your content and your style to ensure it's relevant, accessible, and relatable to your audience. As a presenter, take stock of your own skills, talents, and areas of expertise. Are you a skilled visual communicator? Are you adept at simplifying complex concepts? Are you particularly knowledgeable about a specific subject? Capitalize on your strengths to deliver a reality-fueled presentation. Final thoughts While flashy visuals may momentarily grab attention, it is the content and authenticity of a presentation that truly leave a lasting impact. By focusing on delivering clear and genuine messages, presenters can establish genuine connections with their audiences, fostering engagement, trust, and motivation. So, embrace the power of substance and authenticity to make your presentations truly impactful and memorable instead of hyper focus on the visual appeal. If you have a sales kick off coming up, reach out to us today to talk about how we can help you build reality-fueled content… with a little flash of course.
