How amazing would it be if you had a simple system that signals to your sales team that an opportunity is moving toward a transaction?
Enter HubSpot’s Sales Pipeline Management Tool.
Observing these important sequences of actions is a must have for sales reps. It examines the transformation of a prospect into the following stages:
- Lead
- MQL
- SQL
- Happy customer or deal lost
If you're implementing RevOps to your business, all of your teams can effortlessly track what a sales rep is doing during the sales process.
1. Deal Stages
Deal stages represent the stages in your sales pipeline that communicate the movement of opportunities toward closing to your sales team.
It depicts the goal of achieving a sale that is based on your marketing strategy and tactics
The deals board in the pipeline provides an elegant visual representation of each stage in the pipeline as they progress.
You'll see how it all creates a seamless experience across your sales, marketing, and customer service teams with the following reasons.
2. Accountability
Using the HubSpot Pipeline, sales teams can keep each other accountable for moving the process forward; they can avoid losing leads because of not following up or ineffective messaging.
You get to evaluate what's slowing down the process and can see what needs to immediately change.
Fine tuning your value proposition with the team has shown to help decrease prospects from hitting a dead end at any stage of the pipeline.
In addition, lead management becomes more efficient. Sales teams get to prioritize which leads to focus on and avoid wasting time on leads that need to be dropped.
Using HubSpot’s CRM capabilities allows you to follow up and qualify these leads by leveraging tools such as sequences and workflows.
3. Alignment of Teams
Having your teams know exactly where your potential customers are in the sales process helps minimize confusion within marketing and sales.
This helps the marketing and customer service teams follow along and anticipate what to market to them.
According to LinkedIn, exceptional communication between sales and marketing have shown:
- 58% improved efficiency
- 52% enhanced productivity
- 76% of marketers have a better understanding of the customer journey with sales
- 71% believe they know how to address the customer's needs
(Psst! If you're not sure how to go about aligning teams, you may benefit from RevOps.)
HubSpot states that when sales and marketing are working together, revenue is increased by 208%.
On the flip side, misalignment of sales and marketing teams cost businesses $1 trillion a year.
Moving prospects through the pipeline depends on how customers are nurtured with the information gathered.
When sales and marketing operate on their own, the different operational teams waste time recollecting data and information that another team has already collected.
Each stage of the pipeline must coordinate with your prospect's buying journey.
This helps you target your leads based on their specific needs, which define certain actions to take at each stage.
4. Customization
The default deal stages in a sales pipeline include:
- Appointment scheduled (20%)
- Qualified to buy (40%)
- Presentation scheduled (60%)
- Decision maker bought-in (80%)
- Contract sent (90%)
- Closed won (100% Won)
- Closed lost (0% Lost)
(Percentages refer to the likelihood of closing a deal -- this can be customized.)
Once you determine the right deal stages for your pipeline, the stages can be edited or customized to your delight such as:
- The number and names of the deal stages
- Specifying the estimated close percentage
- Editing deal stage properties
You have total control on how you create your ideal process that reflects your company's story, products/services, and prospect's unique buyer's journey.
5. Attractive Reports
Another way to help alignment within different teams is with HubSpot's sales reporting.
These beautiful reports showcase everything you need to know about your pipeline and can be tailored to your desires.
One of our favorites is the Lifecycle Stage Funnel Report. It tracks where your leads, MQLs, SQLs, opportunities, and customers are occupying in your pipeline while measuring conversion rates.
All of your teams can follow your performance across various metrics with ease in the dashboard which can contain up to 10 reports.
Conclusion
HubSpot's sales pipeline is an impressive tool to help you understand your prospects and close more deals.
Not sure where to start? We're a RevOps team that is committed to helping you maximize your effectiveness and efficiency with HubSpot.
To figure out how to navigate and get the most out of sales pipelines that are personalized to your specific customers and business, we use a framework designed to help us uncover your unique needs.
If that sounds like something that would be helpful for you, book a chat with a RevOps specialist today!
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