- Opportunity Management
- Lead Generation
- Territory Management/Account Management
Life is better when the ratio of Leads to Wins is closer to 1-to-1!
The company’s Opportunity Management process determines what happens inside the pipeline in taking the input (lead) and producing the desired output (win). In general, sales management could examine several performance metrics throughout this process. Having done so, they are positioned with the insights to coach their sales people to take actions that will correct or enhance desired pipeline performance. Hence, “Sales Metrics and Sales Coaching “!
- The output end – examples include:
- Are win results meeting expectations, consistently over time?
- What is the yield from the pipeline (i.e., that ratio of Leads to Wins)?
- The actions within the pipeline are an important leading indicator to successful output, and provide great insights for sales manager coaching. Two good examples include:
- Velocity of opportunities through the company’s identified Stages of sales person’s pipeline. Having lots of deals in various Stages is good unless they have been sitting for much longer than sales management’s expectations for a healthy deal velocity. This results in a bloated pipeline! Giving a false sense of well-being, but very misleading to all!
- Appropriate balance of opportunities at each Stage within the pipeline that will produce a consistent stream of wins over time. Does the sales person have enough healthy deals in his/her pipeline to produce results needed to consistently meet targets? For example, if the sales person is only focused on a few deals at the closing Stages of pipeline then they are likely to face a “dry spell” in the near future (i.e., the pig-in-python effect).