🔑🔑🔑 Keys to Running a Great Pipeline Check-in

Structure & Format

• Frequency: Conduct pipeline reviews weekly or bi-weekly based on sales cycle and deal volume, with more frequent reviews for fast-paced deals.
• Attendees: Involve sales reps, managers, and key stakeholders ( marketing, solutions engineers or product specialists) for cross-functional collaboration.
• Agenda:
  • Quick Overview: Summarize pipeline health (total value, deal count, market segments, stage progression, etc).
  • Stage Review: Review deals by stages to identify any stalled progress.
  • Priority Deals: Focus on high-value or high-risk deals needing attention.
  • Action Items: Assign action items with clear ownership and deadlines.

Key Metrics to Track

• Pipeline Health:
  • Total Pipeline: All active / open deals to assess pipeline coverage, 3,000 ft view.
  • Coverage Ratio: Advancing pipeline-to-target ratio (best practice suggests for 3:1) to ensure ample opportunities for all reps. Why advancing? Hone in on deals beyond first stage.
  • New Pipeline: pace of adding new deals, indicating lead gen/outbound success.

• Stage Progression:
  • Average Time in Stage: Typical time deals spend in each stage; flag outliers.
  • Deal Velocity: Speed of deal progression; faster deals often win more.
  • Stage Conversion Rate: Percentage moving from one stage to the next, revealing bottlenecks.

• Deal Risk Indicators:
  • Stalled Deals: Deals with no recent progress or engagement.
  • Engagement Score: Buyer interest level based on recent interactions.
  • Stakeholder Engagement: Ensures involvement of key decision-makers.

• Sales Activity: ensure reps are getting individualized scorecard or coaching that shows activity and effectiveness rates at the individual and team level
  • Activity Volume: Count of calls, emails, and meetings to ensure engagement.
  • Activity Effectiveness: Response rates and follow-ups per activity.
  • Last Activity Date: Tracks recent engagement to keep deals active.

👩‍🏫 Review Process & Best Practices

• Share the Signals First: What does your seller's pipeline tell you about their likelihood to hit goal? Be honest.
• Prioritize High-Impact Deals: Focus on high-value and high-risk deals, collaboratively tackling challenges.
• Address Bottlenecks: Are there consistent points where deals die? Use metrics to spot skill or process issues. 
• Data-Driven Discussions: Keep reviews factual, focusing on actionable insights.
• Assign Action Items: Set clear next steps for each deal with designated owners.
• Follow Up: Start each review by tracking progress on previous action items for accountability.

👨‍💻 Tools & Resources

• AI Pipeline Dashboards: Visualize pipeline health, deal stages, and risks in real time. (Ambition's Pipeline Intelligence is launching 12-12-2024!)
• AI Coaching Tools: Track engagement metrics
• Automated Alerts: Use data alerts to flag stalled or progressed deals, get summaries of low engagement, and approaching deadlines.

🚩 Red Flags to Watch For

• Stalled Deals: Deals sitting too long or stuck in one stage.
• Missing Stakeholder Engagement: Lack of decision-maker involvement or buyer interest.
• Low Activity on High-Value Deals: Insufficient sales or buyer activity on high-value deals may indicate neglect or waning interest.
• See more here

🤝 Outcomes of the Perfect Pipeline Review

• Clear Next Steps: Concrete actions for each priority deal with assigned ownership.
• Informed Forecasts: More accurate revenue forecasts based on data-driven insights.
• Risk Mitigation: Early issue identification to prevent lost or delayed deals.
• Team Accountability: Clear responsibilities for each rep, with progress reviewed next time.