6 Rules to Keep Your Sales Pipeline Full
What is sales? The activity or business of selling products or services. Sounds simple, right? But is it? Even if your sales are great today, there will come a time when sales will crawl to a halt unless you take precautionary measures to keep your sales pipeline full.
As we all know the marketplace is dynamic. There’s a myriad of reasons why you will lose business if you don’t focus on marketing. Competitors get better. Customers develop cash flow issues. New competitive products and services steal the limelight. Action is needed.
1. Don’t take shortcuts. Keep marketing, networking and selling. Always maintain your top-of-the-mind awareness.
2. Former and long-time customers should not be ignored. They are your best source of referrals. Use every tool at your disposal: E-mail, newsletters, social media, telephone calls, speaking opportunities and the best tool ever- in-person contact.
3. Identify and develop a prospect list. Focus on proper time management to schedule projects. Don’t lose a potential customer because you’re too busy. People don’t like to be taken for granted. If you lose a prospect, remember it’s forever.
4. Plan ahead. Have a plan in case you do get more business. Line up consultants, independent contractors, and/or part-time workers. If you are successful and it looks favorable long-term, consider hiring more help.
5. Review your pricing. Remember the law of supply and demand. Consider whether you’re charging the right amounts. Maximize revenue. It’s harder to raise prices than it is to lower them.
If your business slows down, OK, lower your prices. But make certain you indicate you’re offering discounts — not an everyday low price.
6. Focus on prospects who are likely to need your products and services on an ongoing basis. Develop a foundation — a prospect list of anchor customers or clients.