Long sales cycles, lack of qualified leads, and stagnate pipelines are common issues facing today’s companies. In many organizations marketing is charged with “generating leads” and sales is charged with “closing leads”. What should be a highly collaborative effort often becomes a lightning rod for inter-department friction. The cause of this friction is most often traced to several factors:
- The lack of a systematic approach for managing the lead flow
- Inconsistent or vague definitions for the various stages of the sales cycle.
- Lack of understanding of what stages exist between an initial contact and a closed sales order.
- Inability to accurately forecast the necessary quantity of leads to be generated.
- Inability to accurately forecast the number of closed sales for any given month.
The Pipeline Engineering Workshop (PEW) is an interactive work session designed to help companies engineer a systematic buying pipeline model that can function as the single most important performance dashboard for marketing and sales departments. Participants find the workshop serves as a terrific vehicle for aligning company strategies and tactics as well as aligning sales and marketing teams.
The workshop covers the following ground: market strategy, target market, current pipeline process, behavioral commitment development, conversion ratios, and pipeline tactics.
As a result of the PEW, you will have a pipeline model suitable for use with each of your products. For the specific product on which the workshop focused you will have:
- Identified the market strategy for product
- Determined the target market for each pipeline
- Defined the behavior commitments for each pipeline stage
- Established reasonable conversion ratios and elapsed time between the stages
- Established how many contacts, leads, etc. are required for every closed order, and the amount of time required to move a target through the buying pipeline to close
- Linked tactics to each stage
- A rough draft for an action plan to support a buying pipeline based on behavioral commitments of your target market.
A Word document is generated containing notes from the workshop that include the behavioral commitments that define each of the phases in the pipeline, estimated conversion rates at each phase, number of contacts required for each sales order, and preliminary tactics and responsibilities assigned to each phase of the pipeline.
- May 16 @ 10:30 am - 11:15 am