If you want to be successful in sales, you need to develop a strong sales pipeline to ensure that you have a steady flow of new business prospects. A strong sales pipeline indicates that you have prospects developing and progressing through your sales phases.
Review your sales pipeline and related statistics to uncover hidden weakness and leaks. Study the flow of prospects and gain an understanding of why some prospects do not progress through your pipeline. Next determine your weaknesses and refine your strategic plan.
For example, if you are receiving a flood of new inquiries, but your prospects do not progress past the quotation phase; it may indicate that your pricing is a major factor.
Sales pipelines are the flow of new business and should be closely studied and monitored to ensure a steady flow of the new business sales.
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