Multiple pipeline tracking is the ability to track different sales pipelines in the same CRM system. This can be useful for companies that have different sales processes for different products or services, or for different types of customers.
For example, a company that sells both software and hardware may have two separate sales pipelines, one for each product category. Or, a company that sells to both direct customers and channel partners may have three separate sales pipelines, one for each type of customer.
Multiple pipeline tracking can help companies to:
- Get a better understanding of their overall sales pipeline
- Identify bottlenecks and opportunities in each pipeline
- Track the performance of individual salespeople and teams
- Forecast revenue more accurately
Here are some examples of how companies can use multiple pipeline tracking:
- New business vs renewals: A company that sells subscription-based software may have two separate sales pipelines, one for new business and one for renewals. This can help the company to track the performance of its sales team in both areas, and to identify any areas where improvement is needed.
- Enterprise vs SMB: A company that sells to both enterprise and SMB customers may have two separate sales pipelines, one for each type of customer. This can help the company to tailor its sales process to the specific needs of each type of customer, and to track the performance of its sales team in both areas.
- Direct vs channel sales: A company that sells to both direct customers and channel partners may have three separate sales pipelines, one for each type of customer. This can help the company to track the performance of its sales team in both areas, and to identify any areas where improvement is needed.
Benefits of multiple pipeline tracking
There are several benefits to using multiple pipeline tracking, including:
- Improved visibility: Multiple pipeline tracking can give companies a better understanding of their overall sales pipeline. This can help them to identify bottlenecks and opportunities, and to make better decisions about how to allocate resources.
- Increased efficiency: Multiple pipeline tracking can help companies to streamline their sales process and to be more efficient. By tracking different sales pipelines in the same CRM system, companies can avoid having to duplicate data and can get a better view of their overall sales performance.
- Improved forecasting: Multiple pipeline tracking can help companies to forecast revenue more accurately. By tracking the progress of deals in different sales pipelines, companies can get a better sense of how many deals are likely to close in a given period of time.
How to set up multiple pipeline tracking
The specific steps involved in setting up multiple pipeline tracking in CRM will vary depending on the CRM system that you are using. However, most CRM systems will allow you to create multiple sales pipelines, and to assign different deals to each pipeline.
Once you have created your sales pipelines, you will need to configure them to match your specific sales process. This includes defining the different stages in each pipeline, and the criteria that must be met in order for a deal to move from one stage to the next.
Once your sales pipelines are configured, you can start assigning deals to them. You can also create reports and dashboards to track the progress of deals in each pipeline, and to identify any bottlenecks or opportunities.
Conclusion
Multiple pipeline tracking is a powerful tool that can help companies to improve their sales performance. By tracking different sales pipelines in the same CRM system, companies can get a better understanding of their overall sales pipeline, identify bottlenecks and opportunities, and make better decisions about how to allocate resources.
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