What are the most effective ways to increase pipeline velocity?

1 Define your sales stages

The first step to increase pipeline velocity is to clearly define your sales stages and the criteria for moving leads from one stage to the next. This will help you align your sales team on the expectations and actions for each stage, as well as track the progress and conversion rates of your leads. You can use a CRM system or a sales pipeline tool to map out your sales stages and automate the transitions based on triggers or behaviors.

3 Nurture your leads

The third step to increase pipeline velocity is to nurture your leads and build trust and rapport with them. You can use email marketing, content marketing, social media, or webinars to provide value and educate your leads about your product or service, as well as address their pain points and objections. By nurturing your leads, you can keep them engaged, increase their interest and urgency, and move them closer to the buying decision.

4 Optimize your sales cycle

The fourth step to increase pipeline velocity is to optimize your sales cycle and reduce the time it takes to close deals. You can use data and analytics to identify and eliminate bottlenecks, inefficiencies, or delays in your sales process, such as long response times, low follow-up rates, or excessive approvals. You can also use tools and techniques, such as sales automation, proposal templates, or contract management, to streamline and simplify your sales tasks and workflows.

5 Align your sales and marketing

The fifth step to increase pipeline velocity is to align your sales and marketing teams and ensure they work together towards the same goal. You can use a service level agreement (SLA) or a revenue operations (RevOps) model to define the roles and responsibilities of each team, as well as the metrics and targets they need to achieve. You can also use regular communication, feedback, and collaboration to align your strategies, messages, and campaigns, and deliver a consistent and personalized customer experience.

6 Test and improve

The sixth and final step to increase pipeline velocity is to test and improve your sales process and performance. You can use A/B testing, experiments, or surveys to test different elements of your sales process, such as email subject lines, call scripts, or pricing strategies, and measure their impact on your pipeline velocity. You can also use continuous learning, coaching, or training to improve your sales skills, knowledge, and best practices, and stay ahead of the competition.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?