Chances are you’ve got a good handle on the bottom of your funnel (BOFU). For opportunities more than 60% probability, you can accurately forecast revenue. These are the opportunities you can taste. Your managers and reps focus on them and you track progress weekly.
But would you say the same about the top of the funnel? Are your sales managers tracking progress from the time the lead converts into an opportunity? Are account executives reporting accurately or entering opportunities when they know they’ll close? As Sales Ops leaders, you need to trust your data in order to make crucial decisions. So is your funnel accurate?
What’s the impact of poor lead nurturing at the top of the funnel?
In order to know how many opportunities are actually closing supported by accurate conversion ratios, an organisation needs to be clear at what stage sales opportunities being logged? Are they logged once the inquiry arrives or once the prospect has indicated that they are likely to purchase from your organisation and are in the BOFU. How well have the reps done in aiding the buyer on their journey? At what stage are the sales reps focusing their energy, is it on those opportunities at the BOFU as well as nurturing the top of the funnel opportunities effectively. If they fail to nurture top of the funnel opportunities less opportunities will progress through to the BOFU.
What’s the impact of incorrect Opportunity recording?
- Inaccurate reporting and forecasting – Manager use the sales pipeline data to evaluate and coach their teams. Inaccurate data can cause false assumptions.
- Wasted investment – Sales Force Automation platforms can cost an organization a lot of money. A large portion of that investment is wasted if the inputs can’t be trusted.
Appropriate sales pipeline management is critical to the success of an organisations long term sales success. If opportunities are not recorded and nurtured at the top of the funnel, less opportunities will progress through to the Bottom of the funnel.
Maximizer CRM enables organisations to successfully record, track and monitor opportunities at all stages in their sales pipeline. Contact ProAptivity today to 028 9073 5630 or email: email@example.com