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Sales Pipeline Reporting: Defining the Concept and Creating a Sales Pipeline Report

Zeynep Karvan

Zeynep Karvan

06 Mar 2023

People discussing ideas and strategies in a meeting room, brainstorming on a whiteboard for effective sales pipeline reporting.

There's no question that a well-executed sales pipeline is essential to any company's success. But what exactly is a sales pipeline, and how can you create one?

What is a sales pipeline?

A sales pipeline is a powerful tool that can help your business grow. It's a systematic process that helps you move your products from discovery to sale. The sales pipeline can help you identify your target market, create a sales plan, and forecast how much revenue you'll make in the future.

It is good to visualize gaps in the sales process that need. We need to identify potential bottlenecks that need to be addressed. For example, if several prospects are in the later stages of the sales funnel but have yet to be ready for a purchase, additional efforts may need to be made to move them through the pipeline. Conversely, there may be opportunities in the earlier sales process that need to be utilized. Understanding bottlenecks help to increase the efficiency of the sales process and helps increase sales revenue. Additionally, the sales pipeline can be used to monitor the productivity of sales team members and identify which parts of the process need to be improved.

How to create a sales pipeline report

To create a sales pipeline report, you will need to identify the steps involved in your typical sales process for your organization. Once you have recognized these steps, you can break down each part of the process into specific goals or metrics and create a visual illustration of each step in the sales process. Each step can then be listed separately on the report to track progress.

The following is a detailed example of creating a sales pipeline report:

Step 1: Outline steps.

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Depending on the products or services you sell, the steps in your sales process may vary from organization to organization. However, typically sales pipeline reports should include the following steps:

  1. Generating leads: Potential customers are identified and entered into the database. At that point, warmly.ai generates leads by identifying site visitors and automating outreach to convert them into qualified leads in minutes.
  2. Qualifying leads: Prospects are evaluated to determine their buying readiness.
  3. Nurturing leads: Leads are developed over a duration to move them through the sales pipeline.
  4. Closing deals: The deal is closed once the customer has agreed to purchase. A sale should list these steps in the sales report so the progress can be tracked.
  5. Post-sale: This stage is critical for extending the customer relationship after closing the deal.

Step 2: Identify the metrics.

Once you've identified the steps in your sales pipeline, the next step is to determine the metrics you used to track the progress as the sale moves through the channel. For example, if your goal is to close a certain number of deals each month, then you would set up a metric that tracks the number of closed deals each month and reports how that number compares to the monthly goal. Remember that different teams will have other metrics to measure sales reps' performance.

Step 3: Create a visual illustration for each stage of the process.

The sales team can use these illustrations to visually illustrate the different stages of the sales process in a report so they can be easily recognized and understood. If required, you can include multiple stages, but be sure to include details about each stage so that the team knows what information they should collect at each step. 

Step 4: Make an executive summary.

The report includes an overview of the key takeaways from the meeting. In addition, it contains recommendations for addressing any sales procedure weaknesses identified during the process.

Using Spiky will give you details of the meeting metrics, and you can utilize these metrics to drive customer understanding and engagement. For example, suppose you plan to have several meetings with the same leadership team over several weeks. For this case, you can create a summary document that covers the main points from the first meeting and then provide updates based on the progress made in each subsequent session. You don't need to think about progress; let Spiky do the heavy lifting.

Step 5: Write the report body.

The body of the report is where you will provide details about each of the steps included in the sales pipeline process and the metrics used to evaluate each step. You should also include any recommendations made during the meeting and discuss the impact that those recommendations will have on the sales team's overall performance.

After creating your sales pipeline;

This process will help your sales team track transactions and activity if this strategy is correctly implemented, managed, and iterated upon.

Remember to build the stages of your lead funnel on your sales team's actions to generate income. If it appears that your pipeline requires additional or fewer phases, feel free to revise. Increasing the accuracy of your pipeline will enable you to reach your targets better.

If your pipeline is working correctly, you can identify what generates money and start generating more of it.

Sources:

https://www.pipedrive.com/en/blog/sales-pipeline-fundamental-stages

https://www.techtarget.com/searchcustomerexperience/definition/sales-pipeline

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