As a sales manager, conducting meaningful pipeline reviews is crucial in guiding your team to success. Drawing from my experience of scaling HubSpot from 40 to 400 Sales Managers over four years, I've developed a Pipeline Review framework that has proven effective. Here’s a key element of that framework:
The Core Goal of Pipeline Reviews
The primary purpose of a pipeline review is to help your sales reps identify and execute the "right play" for each active deal in their pipeline. The focus is on pinpointing the immediate actions necessary to advance a deal towards closing.
Asking the Right Questions
Begin by asking your rep, "What is the very next thing that needs to happen to move this deal one step closer to closing?" Often, reps may not be clear on this, so take the time to agree on the real "right play".
Detailing the Steps
Once you’ve identified the "right play," collaborate to outline all necessary steps to achieve it.
For example, if the play is to "Send a Proposal," break it down into actionable steps:
- Call the champion to clarify any pricing details.
- Obtain necessary budget-related information from the prospect.
- Have a Sales Engineer confirm specific use cases.
- Draft the proposal.
- Get necessary approvals for custom terms.
- Write a message to accompany the proposal.
- Update CRM fields as needed.
Improving Deal Management
Reps often spend time on activities that don't progress their deals. By aligning on the right play, it becomes easier to define clear next steps and ensures both you and the rep are on the same page regarding deal progress.
Instead of vague inquiries like "Did you send the proposal yet?", aim for more pointed questions such as, "Did you get the custom terms approved? Have you drafted the proposal? No? What’s holding you back? Can it be completed by end of day?"
Conversations like these stay focused and maintain alignment, ensuring reps don't feel micromanaged since these steps were mutually defined during the pipeline review.
Conclusion
Slowing down during deal review conversations allows you to speed up later. By clearly defining the right play and accompanying steps, you enhance your ability to track progress and remove obstacles, ultimately driving more deals to closure. Embrace this framework and watch the efficiency and effectiveness of your sales team soar.
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