However, setting it up can be time-consuming, which is why we’ve collected 10 templates for you.
These resources are particularly useful if you’re not sure you want to invest in a CRM just yet, as you don not need and account for them.
What is a sales pipeline?
A sales pipeline is a spreadsheet that outlines the process your leads are going through during the sales process.
It represents who they are, the stage of the funnel they’re at, and other relevant information concerning the end goal of the sales process.
Thanks to this sales pipeline, sales reps are able to see clearly how to track and manage their sales opportunities, allowing them to prioritize activities, forecast revenue, and identify potential bottlenecks or areas for improvement.
Sales pipeline vs sales funnel
Sales pipeline and sales funnel are two different terms that tend to get mixed up.
They are in fact related terms, as they both describe the sales process that your leads go until becoming customers.
However, these terms focus on different aspects.
The first difference between both terms is the fact that the sales funnel centers around the lead and is the journey that your lead takes down the sales process, whereas the sales pipeline is centered around the sales rep, who moves the lead toward a deal close.
The stages in a sales funnel are typically the following:
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The stages in a sales pipeline include:
lead generation
lead nurturing
marketing qualified lead (MQL)
sales accepted lead (SAL)
sales qualified lead (SQL)
closed deal
post-sale
Why do you need a sales pipeline?
Making use of the sales pipeline per quarter and project is crucial for your business.
First and foremost, your leads and clients will be properly organized depending on several different factors, ensuring that you don’t lose them along the way, forget about them, or try to approach them twice in the same way.
You’ll also be able to record their preferences, therefore you will know how and where to contact them, resulting in higher conversion rates.
A proper sales pipeline strategy will avoid missed deals because they linger in space for too long.
Although our aim in any business endeavor is to make as many sales as possible, and sales pipelines help us achieve just that, the benefits are not limited to organizing data to contact your leads.
Sales pipelines allow you to gather data on your sales approaches so afghanistan phone number list you can see it clearly. This information will help you define your strategies in the future. What information could you get?
Thanks to the weighted sales pipeline you will also be able to forecast your future revenue.
How does this work exactly?
A weighted sales pipeline is a method used by sales teams and managers to estimate the potential revenue or likelihood of closing deals at different stages of the sales pipeline.
To calculate its value you should first assign a probability or weight to each opportunity. However, this should not be a random estimate, you should base your value on historical data and specific criteria. For example, a qualified lead might be assigned a higher probability (e.g., 70%) of closing, while a prospect in the early stage of discovery might have a lower probability (e.g., 20%).
To calculate the weighted pipeline you multiply the value of each opportunity by its assigned probability.
Deal Value x Probability of Closing = Forecasted Revenue
Sales pipeline components
Although you can add more information that is relevant to your sales pipeline or business, there are some components that are essential in your spreadsheet to know what to expect and organize your leads effectively.
These include:
Personal information (contact details, name)
You can include this in one or more tabs. Relevant information in this section includes your lead’s name, their company, their position within the company, the channel where you contact them, and other information that may seem important.
Type of Deal
Define the type of deal you may be closing with your leads, they may vary depending on product, service, duration, etc.
Probability
You may also order your leads depending on the probability there is that the deal may be successfully completed.
This can be done with percentages, icons, and number value (example 1 to 5).
Status
In this section include the status that the deal is in at the moment: Contacted, negotiation, pending payment, etc.
Projected closing date
Include the estimated date on which the deal will be closed.
Next steps
This is an important section to include in your sales pipeline, as you are able to see clearly what your next tasks are with each lead. Send follow-ups, sending additional information, offer promotions or special discounts, continue negotiation, phone calls, closing the deal…
