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How to Build a Sales Pipeline on LinkedIn

The sales pipeline is the most important thing for sales managers. Your job and the livelihood of your sales team are at stake if you don't have a strong pipeline. The sales pipeline is key to business decisions such as how you evaluate and prepare your reps.

LinkedIn is the best platform for all sellers to increase their sales pipeline. LinkedIn doesn't need to be introduced. The platform allows salespeople to make more sales calls, build trust with prospects, as well as allowing them to use those conversations for building a strong pipeline.

This article will provide all necessary details and information to help you build a LinkedIn sales pipeline.

Is there a difference between sales funnel and sales pipeline?

Many people mistakenly believe that the sales pipeline and the sales funnel are one thing. These are two distinct things.

The business sales pipeline is essentially all about your deals. Sales funnels are all about business leads.

Simply put, the sales pipeline includes every stage of the sales cycle. The ideal scenario is that the sales pipeline should be in sync with the consumer's journey.

Your leads will go through the funnel before becoming your customers. These stages include awareness and decision, interest, action format, and interest.

What are the various stages of the sales funnel?

Each case is unique and each stage of the sales pipeline depends on your CRM and your buyer's journey.

It is possible to organize and categorize your sales activity in different ways, depending on your business requirements or you can also use closely to generate more leads on LinkedIn and manage all your data automatically.

It is important for sales staff to keep the sales stages concise and to-the-point. This will help prospects move through these stages as quickly and easily as possible.

In general, the sales pipeline stages will look something like this.

Discovery and qualification -  At the beginning of the sales funnel, the seller will contact the new business leader and determine if their solution meets their needs. A salesperson must consider the needs, timeline, and budget of the consumer.

Meeting  The next step is to contact the prospect and have a meeting with them in order to gain a better idea of ​​their needs. This phase is where you need to record all information in your CRM.

Proposal or Offer -  Once it is clear what your client wants, you can provide the services or products they need. This stage is where you can explain how your offerings will benefit them as well as the investment returns.

Negotiation - It's up now to your sales prospect. Either they accept the offer or they reconsider their needs. The decision to accept or reject the offer is dependent on several factors. However, it usually comes down ultimately to their overall budget.

Closing:

The seller closes the deal if all goes well. They then give the client information to customer service for further processing and implementation. They must update the CRM information and improve the client's after-purchase experience.

Keep in mind, sales pipeline stages can be different for each business. Each buyer's journey and solution will determine which stage you are at. This will help you manage the entire process more efficiently.

You can also use metrics to help build a strong sales pipeline on LinkedIn.

Here are some pipeline metrics that you should be aware of:

Qualified leads - You cannot close the business deal without getting great leads. You should keep track of both your outbound and inbound leads. This will allow your sales team to have enough of these leads.

MQL conversion rate to SQL -  Are you aware of how many of your marketing qualified lead convert into qualified sales leads? If you notice a significant drop in this number, it is likely that your sales and marketing departments are not aligned.

Win percent - Refers to qualified leads who convert into consumers.

Customer acquisition expenditures -  This refers to how much you spend on marketing in order to acquire new customers. Divide your customer acquisition expenses by the total number.

Customer lifetime Value -  It shows how profitable every customer is to you business.

After you have reviewed all of the performance indicators and other metrics, it is time to focus on the sales funnel review. Here are the details:

LinkedIn Sales Pipeline: How to Use It and Boost Your Sales

LinkedIn is the best network for business leads, and sales.

When you're working on your sales pipeline, it is important to have the right data about your leads.

However, sometimes things can get complicated when you work with your CRM and sales pipeline.

It is important to keep everything on the right track.

If you have the right information at the right time, you can make better business decisions via LinkedIn.

We will share with you some of the benefits of having a well-organized sales pipeline.

Rapid reporting and analytics

Data is most important when it comes to sales or pipeline.

Your sales pipeline metrics and statistics will tell you whether your LinkedIn outreach campaign has been successful. Access to all reports and reviews is essential to identify new business opportunities. You also need to know how your business leads are being engaged.

LinkedIn's Sales Navigator allows you to see the information in a glance.

This feature will allow you to determine which campaign is generating the highest number of sales leads. You can also see their responses to your questions and where they came from.

This is what determines the strength and effectiveness of your sales campaign.

Because you can see the sales insights as well as analytics in one spot, it is easy to make quick and effective decisions about your campaigns. This will allow you to quickly see which campaigns you should continue and which ones you need to improve.

Conclusion

A sales pipeline is an essential part of any outreach and marketing LinkedIn campaign . You can get a clearer picture of the future performance of your company by using the data and stats it provides.

Finally, organize your sales team and give them the tools they need to effectively manage and capitalize your sales and marketing efforts.