The pipeline report is one of the most vital and effective tools in sales management. It provides both the individual and the company a means by which they can easily track and maximise every opportunity they are in touch with. These opportunities could be new deals with existing customers or brand new prospects.

The pipeline report contains a number of fields. The 3 key fields are:

1. Value
2. Probability
3. Timing

Any successful sales professional will have some sort of list of opportunities that they are in contact with. By developing this list into a simple to manage, ordered and prioritised table which is constantly updated as they are in contact with their prospects, they are significantly increasing their likelihood of success.

And as a sales management tool, the professional manager can have a real-time update of sales pipeline with which to discuss and question their sales staff.

Most sales force automation systems (SFAs) or customer relationship management systems (CRMs) include a means for tracking the sales pipeline, however many highly successful professionals utilise a simple Excel spreadsheet, an example of which is attached for download.

Other benefits include:

• Tracking of the ‘source of a lead’ can enhance marketing effectiveness over time.
• Personal notes of key aspects of any call or meeting can assist in the necessary prioritisation and planning of the developing opportunity.
• Where management is intense the sales pipeline will enable the sales professional to ‘manage their boss’ by being one step ahead and clear in their regular sales updates.

We have found that clients embracing sales pipeline management have revolutionised their effectiveness at closing new business.