Sales pipeline growth is a huge need for businesses in these changing times.
And COVID-19 has changed everything. In order for organizations to succeed during these trying times, revenue teams must adapt.
In a recent TOPO study, 80% of respondents said that their sales pipeline has moderately or significantly decreased due to the coronavirus, and this number increases week over week.
With the economy in freefall, sales pipeline growth is imperative, but pre-COVID-19 pipeline growth methods aren’t reliable anymore.
We need to rethink sales pipeline growth methods.
There are three major ways that sales and marketing teams can grow their sales pipeline immediately:
- Increase your spending on digital demand gen activities
- Shift your SDR focus from inbound to outbound
- Host virtual meetings to replace postponed or canceled events
Let’s drill down into each of these.
Sales Pipeline Growth Method 1 – Increase Spending on Digital Demand Gen Activities
As you shift more of your marketing budget to digital demand tactics, it’s important to ensure you’re converting every possible website lead. You simply can’t afford to be letting leads fall through the cracks due to slow follow up or unnecessary back-and-forth.
Chili Piper allows qualified inbound leads to book meetings instantly or start live calls the second prospects complete a web form.
Chili Piper is the plug for your leaky funnel, making your demand dollars go further. Chili Piper customers easily double their booked meeting rate on inbound leads, thus doubling their inbound pipeline.
Sales Pipeline Growth Method 2 – Shift Your SDR Focus from Inbound to Outbound
Many organizations are still using SDRs to qualify and route inbound leads from demo and call requests on their website. This wastes time and resources.
The average inbound lead is already 60% through the evaluation process, meaning they are well educated and prepared to have an informed conversation.
Chili Piper removes the need for humans to qualify and route leads. This frees SDRs to focus 100% on outbound prospecting and generating new opportunities.
More hunting equals more leads, which leads to more revenue.
Sales Pipeline Growth Method 3 – Easily Manage Group Meetings
If you’ve had to cancel an event or were sponsoring a cancelled event, you’re likely wondering where you can make up the lost pipeline. It’s crucial, especially now, to not let those opportunities slip through your fingers.
Chili Piper salvages those event meetings by rescheduling them as virtual one-on-one or group meetings. Schedule private coffee chats, online meetups, or webinars as a way to engage and convert those same prospects.
Sales pipeline growth is possible, even with widespread economic and public health uncertainty.