How to build your sales pipeline.
-So much content (some much better than others)
-I found that I couldn’t find any one solution, because “building a sales pipeline isn’t really one problem”
-Many different definitions, so I made up my own
Difference between pipeline and funnel:
-Pipeline: Steps in the process to create constency
-Funnel: Existing prospects and what stage they’re at.
-Funnel: Probability of closing, being able to forecast.
This is important to ensure you’re consistently prospecting, engaging and closing. Helps to eliminate ”waves” of business
Sales Benchmark Index.
Connections Education story- Built rubric for client by which he selected agency (we won)
”Building a pipeline” is an easy way of combining a bunch of steps and work into one easy soundbite
Really takes a mix of consistently working on several prospects, at different stages, all at the same time
As I love to say at our office “What could possibly go wrong?”
We’ve worked on splitting out our pipeline into multiple steps, some managed by different people in different departments, all to hit this goal.
When you master these steps consistently you’ll be able to generate more new clients with greater consistency more often
-“Connecting the World’s Professionals” speaks to their entire userbase while also speaking to recruiters.
-Recruiters are 54% of their revenue, yet that’s not possible without over 250 million members
-Ever used it for recruiting or advertising? Not the easiest. Doesn’t matter, because their UX is built to cater to the userbase
-They know who their ideal client is, and it’s the user. Never swings too far to 3rd party vendors, advertisers or recruiters.
Slide we use in client pitches to help identify who is a good fit.
This is another way of looking at it. I actually prefer this and just got it back from our design team yesterday, so thanks to tonight I think we’re going to use this instead going forward!
-Find commonalities amongst your existing clients.
-Keep the future in mind. Make it scalable.
-Think of the bad clients you’ve had and run with the opposite.
For us, it’s as much about eliminating poor fits as it is selling up-market
PPC Hero provides a great deal of our leads, but those leads vary in size, scope and qualification
People who confuse SEO and PPC, people who just want us to do their job for them or people who really want a creative agency
We’ve slowly worked to narrow our focus.
-Still make exceptions, but really want our ideal clients to get the lion’s share of attention
-If it’s slow, expand a bit!
Targeting is something that’s tough to create a habit of, but those who do say it’s easy.
-The right approach is necessary. Can’t overpursue early or spend all your time targeting and not enough time using multiple contact methods.
First person is your contact. You worked with them before, they’ve read the blog, they know you do good work.
-But they have a boss, who reports in to two more people and since your work overlaps another department, there’s another VP.
For this reason, mapping never stops.
-You’re going to build bad info that needs cleaned up. People change jobs ALLLLL the time
-During conversations, “as part of our process” helps make it normal to inform of all the stakeholders.
-Don’t get frustrated when you can’t get to them all.
-Use VP to VP or C-suite to C-suite to contact them
Think of the company first and work to the people to create advocates
Use as many different methods as possible. What works for one client may not work for another.
-Track in your CRM (that’s a whole other workshop)
-Watch out for LinkedIn’s penalty box
-2nd and 3rd degree connections
-Don’t have to use a greeting on mobile! Use this to your advantage.
Love HBR, but their graphs can take a bit to wrap your head around.
-Took a survey of high performing teams (over a certain % ahead of sales goal)
-Of high performers, they had a great deal more focus on a structured sales process
How to build your sales pipeline.
-So much content (some much better than others)
-I found that I couldn’t find any one solution, because “building a sales pipeline isn’t really one problem”
-You’ve got to find your best prospects, get them to talk to you and make them your clients….on a somewhat regular basis.
The high performers had a 22% higher occurrence of a well-documented structure.
-Know this from experience. Starting from a spreadsheet into a CRM into a multi-department and multi-funnel approach
-The more organized you are, the more likely you are to succeed
This is the worst for me. Creates anxiety. Don’t know where to go or what to do.
Your prospects, when you don’t define the process, will ask for a proposal or lie to you to make the anxiety go away.
-Sales Processes can vary within an organization (SMB, ENT, Project-based)
-They change and should be re-evaluated on an ongoing basis
-Was embarassed to show you an earlier version. Took waaaaay too much time to find this, and even then I had to update it.
-President Obama had ten letters hand-picked and delivered to him every morning. He made a point to read them to stay connected to the voters and eliminate working in the bubble of DC.
-He would respond to a few at a time, and in time created a habit of staying in touch with people, even those who wrote him less-than-pleasant letters.
-It’s a simple strategy that you can emulate to stay focused on prospecting and making contact with ideal clients consistently.
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-Some examples of how we do it at Hanapin:
-Lost opps always get a follow-up date and we make a point to check in to pick conversations back up. These are the shortest sales cycles the second time around
-Cient referrals: Self-explanatory
-Check back quarterly are simply those who respond back, but aren’t ready to do anything now. We simply get permission to check back in a few months and if possible, get an idea on when their next RFP cycle is
-Job changers in linkedin have been great for us. Our team is always on the lookout for notifications on job changers!