Crafting a sales pipeline that not only mirrors your unique sales process but also automates tasks while providing valuable insights for refinement can be a formidable task. In this blog post, we will pose five pivotal questions everyone should ask before building their sales pipeline in HubSpot CRM. 

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What stages do our leads typically navigate before converting into customers?

Defining the stages of your sales pipeline lays the groundwork for its effectiveness. While HubSpot offers pre-defined stages suitable for newcomers to the platform, achieving optimal results necessitates tailoring your pipeline to reflect the journey of your potential buyers. This customised approach ensures seamless alignment with their decision-making process, facilitating a smooth progression from initial interest to final purchase. Keep in mind that there might be different sales stages for different type of deals. Outbound deals might have extra steps, while deals managed by partners often need fewer stages.

What actions or events indicate progress within each stage?

Remember, It's essential to establish specific criteria for each stage of your sales pipeline. For instance, in the second stage, deals should meet predetermined conditions such as having scheduled demos and projected close dates within six months. Adhering to these criteria ensures that only qualified deals progress to each stage, maintaining the integrity and efficiency of your sales process.

Don't forget to utilise pipeline settings within HubSpot CRM, where you can designate certain properties as mandatory for each stage. Without these fields being filled, deals won't progress forward.

What data do we need to capture to generate actionable insights and make strategic decisions?

To create insightful dashboards capable of answering pertinent questions, it's imperative to collect key data points and establish automation to ensure their availability when needed:

• Do you want to understand where your deals are coming from? Make sure you collect a deal source.
• Do you want to understand how long it takes to move the deal within each stage? Make sure you automate saving dates entering each stage.
• Do you want to understand why you are loosing deals? Make sure to collect lost reasons for each deal lost. 

Identifying the specific data points crucial for generating actionable insights will be later pivotal for informed decision-making and effective sales management. 

Who will be responsible for managing and updating pipeline information?

Assigning clear ownership of pipeline management and data upkeep is essential for maintaining accuracy and consistency. Typically, this responsibility falls upon a designated team or individual within your organisation, often within the sales or operations department.

The designated personnel are tasked with various responsibilities, including:

• Regularly updating deal information to reflect the latest status and developments - Sales Rep.
• Ensuring data integrity by verifying the accuracy of entered information and resolving any discrepancies - CRM Admin.
• Implementing automation where possible to streamline data entry processes and minimise manual errors CRM Admin.
• Monitoring the overall health of the pipeline and identifying areas requiring attention or improvement - Sales manager.

What in my pipeline can be automated?

Utilising HubSpot CRM provides us with a significant advantage in automating repetitive tasks and actions. While not all actions should be automated, it's essential to leverage automation wherever possible to save time and streamline processes. Here are some key automations that can be set up within HubSpot CRM:

• Automatically Transforming Information from Company or Contact to Deal

By setting up automation rules, we can eliminate the need for manual data entry by automatically transferring relevant information from company or contact records to corresponding deal records. This ensures data consistency and accuracy while saving valuable time for our sales team

• Notifications and Reminders

Automated alerts and reminders play a crucial role in keeping our sales representatives informed and proactive. By setting up automated notifications for upcoming deadlines, follow-up opportunities, or changes in deal status, we ensure timely action and prevent valuable leads from slipping through the cracks

• Automatically Moving Deals to Next Stage Based on Trigger Events

Implementing automation rules allows us to define specific trigger events or conditions that automatically advance deals to the next stage in the pipeline. For example, deals can be moved to the next stage when a prospect responds to an email, schedules a demo, or meets certain qualification criteria. This automation streamlines the sales process and ensures deals progress smoothly without manual intervention.

Conclusion 

In today's fast-paced business landscape, mastering sales pipeline management is essential for driving growth and success. Establishing a solid and transparent process from day one, along with diligent data collection and strategic automation, lays the foundation for success. Answering these 5 questions will not not only streamline your operations but help you gain invaluable insights for strategic decisions.