Are you still conducting boring sales team meetings where the whole sales team gets prepared to share what garbage they have in their pipeline? Well if you are, stop it.
You might think that by publicly causing all the salespeople to share their deals in front of the whole team, it will make their competitive spirit come out and cause them to do more activity to create more opportunities. WRONG. This is why:
- It causes perfectly good salespeople to spend time preparing slides or a report to get ready. This time could be better spent selling something.
- It causes salespeople to believe that the most important thing is a big pipeline. The bigger the better right?
- It then encourages salespeople to fluff up their pipeline.
What You Should Do Instead of the Group Pipeline Review:
- Do away with the team pipeline review meeting.
- Individually talk with each salesperson about their pipeline, the velocity of deals in the pipeline, and most importantly make them tell you what the next agreed to step is for every single deal in the pipeline.
- Call BS on the fluffy crap that is in their pipeline – make them move the deal or blow the deal up.
- Use the pipeline as a predictive tool – calculate the number of deals or dollars needed in each bucket of the pipeline for each salesperson to meet their goals then hold them accountable to only filling the pipeline with good quality deals.
- Focus them on the right activities to get those deals in the pipeline.
- Use group meetings for role playing, sharing best practices, strategizing on targeted prospects, and solving execution problems.
And, make your CRM work for you. Rather than a salesperson having to create some pretty report or chart to show how great they are, make sure your CRM produces reports that spit out the right information at the click of a button. Those reports would include a pipeline report, an activity report, and a closed business report.