Every company wants to generate more opportunities into their pipeline. You could have a great sales team with a proven sales process but, without quality demos your ROI may not even exist. So how do you build your pipeline and keep it healthy? Well, unfortunately there is no single answer for this.
We recommend taking a look deeper into your current TOF or “top of funnel” to see what is currently working and what isn’t. You should determine this by sales that come from the channel and by the quality. This is because if you focus on only the cost per meeting, you might just be getting a ton of cheap meetings with low quality prospects that won’t convert. But, if you are getting a nice chunk of high quality meetings without sales, there might be an issue with your sales process. Identifying what the issue is inside of your current system will help you provide a calculated solution instead of “needing more demos”.
You really need to make sure you understand your ICP or your “ideal customer profile” before scaling with more demos. You can’t just book demos with random people within a company and call it good. They need to be qualified and ideal to have as a customer to ensure you and the client’s success. ICP can range in qualities like revenue, company size, location, and more. You can get granular to improve messaging to each type of ICP. For example one vertical of your ICP may need a separate service you offer rather than another ICP vertical. So, it is your job to offer the correct service to the correct ICP segment. Understanding your ICP will help you target them and win more pipeline opportunities.
Are you really prospecting? Are you actually taking an hour or so every day to gather info and then complete your outbound process? Everyone within the company should be doing this, even a little bit. Leaving prospecting and outbound just to the SDR, especially if they are new, can be dangerous. Same goes with marketing departments. Whether it’s an outsourced marketing expert or an internal team, you can’t just sit back and let them handle everything. Filling the pipeline is a team effort.
Pipeline drought can happen due to a number of issues but, it’s usually deeper than “we just need to send more emails”. Dive deeper into issues around ICP, value proposition, and the issues your target market faces.