Sales Training Article: Overhaul the Pipeline Meeting

Sales Training Article: Overhaul the Pipeline Meeting: by Customer Centric Selling

Sales Training Article: Overhaul the Pipeline Meeting to Make Your Number

By Drew Zarges, Sales Benchmark Index (SBI)


You've got four months left in the year to hit quota. It's achievable, but far from certain. Your team's execution in closing key deals will be the difference between a nice year-end bonus or a feeble "Nice effort" from the boss. How will you push your team over the finish line?
One of the longstanding methods for determining the likelihood of closing deals is the sacred Pipeline Status Meeting. At SBI we've sat in on thousands of these meetings. They typically occur once every two weeks, and last an hour. They are also a total waste of time-for you and the sales rep.
Here's a synopsis of the average pipeline get-together:
Manager: "So what's going on with this deal?"
Rep: "Uhh…They'll probably close by the end of the month."
Manager: "Why do you think that?"
Rep: "The guy told me they just needed a couple of weeks to get the funds together"
Manager: "Okay. What's the likelihood of that happening?"
Rep: "75%"
The manager asks a few more situational questions, and suggests a minor tactical change. Then he puts it into his forecasting spreadsheet. They move on to the next opportunity until they complete the top 5-10 deals in the pipeline.
The manager develops a cloudy understanding of the deals, based on the Rep's subjective opinion. After the rep exits, we see managers adjust forecasts up or down while mumbling something like "he's such a sandbagger". It's obvious the manager is still guessing. So, if you gain no insight, what's the purpose?
Instead of coming up with Pie-in-the-sky projections while the clock keeps ticking, here's how to drive real revenue:
1. Segment all of the opportunities in your team's pipeline into two categories: Must Wins and Nice to Haves. The Must Wins are deals that are crucial to your success for the year. Nice to Haves are smaller revenue, longer timeline, or lower probability deals.
2. Now separate Must Wins by expected closure date: Those expected in the next 60 days, and everything else.
3. During your next "Pipeline" meeting, ask your Rep to come prepared to speak on one Must Win Deal in the Next 60 days. This means arriving with completed sales process Job Aids, notes, and any other pertinent information on the account.

• First 10 Minutes of the Meeting: Ask the Rep to give you a high level overview. Question to gain understanding of the deal, but don't interrupt their presentation of the facts. They talk, you listen.

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