[one_half] With the best sales funnel tools available to them, sales managers can dive into more powerful sales analytics, produce more accurate forecasts and provide sales reps with specific coaching points. By studying their sales funnel, managers can pinpoint weaker stages in the sales process, determine where reps are struggling to convert and forecast sales and conversions correctly. Here are some best practices to take advantage of your sales funnel tools.

  • The shape of the funnel
    The shape of the sales funnel is indicative of how functional and accurate the sales funnel is. Use your sales funnel tools to ensure that your sales funnel always maintains the same shape – widest at the top and narrowest at the bottom, with distinct drop-offs through meaningful conversion points at each stage. Aim for a smooth gradient all the way down between stages – a funnel that has dramatic indents or sharp drops suggests to a manager that the funnel possibly features the wrong number and types of stages. [image source_type=”attachment_id” source_value=”31258″ align=”center” lightbox=”true” title=”Sales Management – Sales Funnel” alt=”Sales Management – Sales Funnel” width=”400″ height=”276″ autoHeight=”true”]
  • Time spent in each stage
    Use your sales funnel tools to study this metric and forecast future opportunities more accurately. If deals that end up being closed/won usually spend 7 days in the trial stage, an opportunity that has been in that phase for three times as long is not going to close successfully, regardless of how optimistic the sales rep working on it may be.  [image source_type=”attachment_id” source_value=”33112″ align=”center” lightbox=”true” title=”Sales Funnel – Time at each Stage” alt=”Sales Funnel – Time at each Stage” width=”381″ height=”272″]
  • Sales Funnel Conversions
    As less qualified prospects drop off between stages further down the sales funnel, the conversion rates should diminish to reflect this. Use your sales funnel tools to hone in on specific stages, especially those with dramatic drop-offs, to coach reps who are losing a lot of their opportunities at that specific stage. The historical conversion rates of the sales funnel can also be extremely useful in forecasting future opportunities. [image source_type=”attachment_id” source_value=”33111″ align=”center” lightbox=”true” title=”Sales Funnel – Conversion Rates between Stages” alt=”Sales Funnel – Conversion Rates between Stages” width=”381″ height=”283″]

InsightSquared is the sales reporting and analyzing software you need to maximize your sales funnel tools. A leaky sales funnel with unfulfilled leads at each stage can result in a great deal of opportunities lost, so make sure that doesn’t happen with InsightSquared.

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[/one_half] [one_half_last] Sales Funnel Tools in InsightSquared
[note][blockquote cite=”Steven Carter, SVP of Operations, Visible Measures”]InsightSquared is a fantastic sales management tool. We now have the visual reports of our sales and marketing in just a few seconds and we could never get these from our CRM in the past.[/blockquote][/note] [/one_half_last]