Any sales team needs a clear and unambiguous definition of its sales funnel, as it outlines where a given customer is in the sales process, when to follow up on them, and pushes organizational revenue up. HubSpot the most popular CRM with rich functionality that allows creating and optimizing efficient sales funnels. Here in this article, we shall be sharing with you some tips and tricks on creating and agreeing, on a Hubspot sales pipeline that fits your business needs.
Understanding the Importance of a Sales Pipeline
Let’s understand what a sales pipeline is and why having such a construction is critical before we start exploring how a sales pipeline can be constructed in HubSpot. A sales pipeline, also known as a sales funnel, is a graphical illustration of the current state of your sales process and how a prospective buyer is guided to become a customer. For the sales teams, these stages of the pipeline signal the various degrees of progression through the buyer journeys, which makes it easier for the management of the organization to forecast the revenues, as well as culminating in the identification of any potential bottlenecks in the pipeline.
Indeed, HubSpot’s CRM system allows businesses to track pipelines with an easy-to-understand interface that gives insight into ongoing sales processes. An unbroken pipeline guarantees that none of the leads is left untaken into account by your employees; thus, your chances of achieving higher sales become much higher.
Customizing Your Pipeline in HubSpot
HubSpot also has a variety of benefits, one of which is flexibility. You can set its stages relative to your individual working model of a sales process. The next step would be to establish the sales cycle for your business – this will change depending on a range of factors including industry, target market and business objectives. In HubSpot, go to the “Deals” then click on “Manage Pipelines,” this will allow you to create or edit pipelines.
To gain more ideas, some firms decided to look at the HubSpot pipeline examples where one could find out the different ways various organizations operate in their line of business.
What is more, using HubSpot you can add or delete stages, which allows you to control the flows of your pipeline. All of them should provide a specific action or major step in the sale’s process. For example, Lead Qualification is a standard stage, followed by Proposal Sent and Negotiation. The aim is to make sure that your salespeople can see transparently which steps they need to perform, in order to progress deals through the funnel effectively.
Defining Deal Stages and Criteria
HubSpot allows for setting up more precise objectives for this or that stage of the deals. To avoid confusion, one should state how many conditions can be met before a deal can proceed to the next level. For instance, a deal might change its status from “Qualified” to “Proposal Sent” only when some planned number of contacts or calls have been made. Not only does it maintain the cleanliness of the deals pipeline and categorize them properly but it also standardizes how your sales team should handle each deal.
Regularly Updating and Optimizing Your Pipeline
Applying the above changes or implementing them consistently means that the structure of the pipeline is constantly examined, often being updated in a way that makes it reflect current business goals. For instance, if your company is to begin promoting its products to a new market, it might be necessary to include or modify the deal stages given the different purchasing behaviors of the new market. Using HubSpot, these changes are easy to implement thus keeping your pipeline optimized to meet the intended sales objectives.
Conclusion
Developing the healthy sales pipeline in HubSpot is a continuous and a cyclical process of creating, configuring, and refining. The step-by-step guide to the pipeline, along with automation, and HubSpot’s robust reporting system, will guarantee the sales team is running at optimal capacity. It means that constant updates and optimizations will mean the pipeline will on average be more in line with these ever-shifting business objectives, thereby leading to steadier returns, or revenue growth.
