While digital technology has improved commerce, it has also increased the complexities of the sales funnel. LinkedIn has introduced a Pipeline Management Kit for salespeople so they can remove blind spots from the modern sales process and manage the difficulties of B2B sales.
LinkedIn Pipeline Management Kit
The new Pipeline Management Kit is a free resource with an infographic, a video, and a 16-page digital pocket guide. And along with Sales Navigator Deals, it will make pipelines more transparent.
According to LinkedIn, sales professionals can be blindsided by hidden pitfalls which derail promising prospects. These have negative outcomes for everyone involved from the marketing and sales teams to the organization as a whole.
For small businesses with limited resources, identifying where the blind spots are to minimize the risks is even more important. Companies with small marketing and sales teams can ill afford to be surprised after putting in many hours of work cultivating a prospect.
LinkedIn Product Marketing and Demand Manager Vivian Chan, writes in the LinkedIn Sales Blog, “On the road to closing deals in B2B sales, a similar dynamic is at play. The complexities of today’s buying cycle yield hidden pitfalls that can cause a promising engagement to veer off-course.”
She then points to some disturbing statistics:
- 24% of anticipated deals go nowhere,
- 25% of sales reps may not be at the same job next year,
- 20% of buyers also play musical chairs annually.
Chan adds, ” These realities lead to wasted time, mismatched contacts, and outdated CRM data. But like a safe driver, sales professionals can consistently check blindspots in their pipeline and minimize risk..”
Key to Not Being Blindsided
The infographic says sales teams should identify all key stakeholders to gain increased visibility of who the decision-makers are in a deal as well as recognizing any missing players.
By keeping their CRM system up to date, team members can view relevant data about any deal. However, this requires a proactive and a hands-on approach to ensure information is being added, deleted or amended in a timely manner.
While a CRM platform is an invaluable tool, it is only as good as the data users provide it, Chan writes.
LinkedIn Sales Navigator Deals
Sales Navigator Deals manages your pipeline and reduces sales risks by providing better visibility and more control.
A single space provides access to all the details in the pipeline with real-time visibility. This gives decision-makers the ability to monitor deals that are not being managed properly and provide help to sales reps.
This is made possible with the Buyer Circle feature which identifies all stakeholders that are part of the deal. And last but not least, it allows you to keep the CRM you have in place up-to-date with relevant data for any deal your team is working on.
The sales process is now more complicated than ever. Automating the different parts of this process is one way to ensure you will not be blindsided. For small business owners, having such a system in place is one way to guarantee they will be able to compete.
You can view the infographic below and download the 16-page digital pocket guide for more here.
Images: LinkedIn