How to Increase Your Sales Pipeline by Improving Lead Generation
When it comes to tracking down prospects and improving lead generation, there’s not a company out there that isn’t challenged by the task of keeping its sales pipeline full. But that doesn’t mean that some organizations don’t have the leading edge when it comes to keeping those leads flowing and filling their sales pipeline.
Today’s lead generation tactics are changing, and that’s why it’s more important than ever to be aware of both traditional tactics and the new more modern methods that have been emerging.
In a world where digital marketing and social selling become more critical every day, it’s a must for sales leaders to know how to increase their sales pipeline through online vehicles and new technology while also maintaining traditional lead flow best practices.
Ways to Increase the Sales Pipeline Include:
- Using a sales performance management solution. Companies using an ICM solution have increased CRM stickiness- this means that when organizations utilize both a customer relationship management solution and an incentive compensation management software solution in tandem, both tools are used more frequently and more effectively. When reps are logging in to their CRM every day and entering opportunity information, it gives the entire sales department better visibility into the sales pipeline.
An incentive compensation management platform also helps you speed up your sales cycle, which keeps the health of your sales pipeline top notch.An independent Aberdeen Group study found that companies using Xactly experienced 37% quicker sales. This allows you to more swiftly transition opportunities into closed deals and continue to fill your pipeline with new prospects. Few things are worse for a sales person or sales manager than an empty or inconsistent pipeline. Without a steady stream of leads flowing through your sales pipeline, deals and therefore cash flow are sapped leaving your reps in a position where they might not make quota.
- Engage in social selling. Reach out to your networks, build new relationships with people interested in your space, and join online group discussions about your industry. Let’s say your pipeline isn’t totally dehydrated, just a little parched. A few more qualified leads could help you make your numbers, and you know if you could just talk to that one executive, and make a connection with that amazing new company or client, you would have a whale of a deal, and no problem achieving your goals for the quarter. Social selling provides that boost you’ll need.
- Embracing content like white papers, guides, and Ebooks. Especially if you put a time limit on the release of the content, or at the very least use a form-fill so that you can retain prospect’s information. This form of lead generation is so rewarding because it lets you know a specific reason your future customer came to your site. For example, if they downloaded an e-book on sales compensation best practices you can follow up in a nurture campaign with more content around designing incentive compensation plans strategically. Every time someone comes to your site and adds their information to read something helpful and informative you’re on your way to improving your sales pipeline.
- Don’t forget about video content. Video content is quickly increasing in popularity because it stands out as a quick and easily consumable way to inform people about your product and its benefits. Video increases your sales pipeline by creating interest in your business by talking about the product in an awesome and creative way. Viral videos targeted toward specific audiences will not only keep people on your website longer, but it might also have them coming back for more and reaching out to sales reps for more details.
Contemporary sales wisdom tells us that it’s sensible to have about three times as many qualified leads in your sales pipeline than you would need to attain your sales goals. That can seem overwhelming if you don’t know all the different ways to improve your sales pipeline, but now you’re armed with at least four new ways to keep the leads flowing and your sales reps selling.