How to Use Weighted Pipeline
To use a weighted pipeline effectively, you must first understand the sales process and identify the relevant stages to your organization. Once done, you can assign values to each stage based on historical data and experience.
For example, you may assign a 20% likelihood of closing to the prospecting stage, a 50% likelihood to the demo stage, and a 90% likelihood to the closed-won stage. By doing this, you can calculate the weighted value of each opportunity and prioritize your efforts accordingly.
One way to use the weighted pipeline is to focus on opportunities with the highest value. These opportunities have the highest likelihood of closing and can have the biggest impact on your sales success. Focusing your efforts on these opportunities can increase your chances of hitting your sales targets.
Another way to use the weighted pipeline is to identify opportunities stuck in certain stages of the sales process. For example, if you have many opportunities stuck in the demo stage, you may need to focus on improving your demo process to help move these opportunities through the pipeline.
A weighted pipeline is a powerful sales tool that can help you identify opportunities with the highest likelihood of closing. By assigning a specific value to each opportunity based on where it is in the sales process, you can prioritize your efforts and increase your chances of hitting your sales targets. So, take the time to set up a weighted pipeline for your organization and start using it to boost your sales success today.