So you probably know you need more sales pipeline coverage if you have any hope of hitting your number this year.
In years past, B2B sales leaders would aim for a 1.5x - 3x pipeline coverage ratio (roughly how much early stage sales pipeline you have relative to what your sales targets for the time period are). But now, we're consistently hearing that teams are looking for 4x - 7x pipeline coverage. That's a lot more early stage pipeline.
Why do we need so much more sales pipeline coverage right now? Because B2B sales cycles are unpredictable. We just can't predict with much certainty what opps will close, and how quickly. So we need to start with more, knowing less is going to make it to the finish line.
(Not sure how much more you need? Try our free pipeline coverage calculator.)
How can you increase pipeline to get your pipeline sales coverage ratio up? Here are some tips to refocus your sales team and increase pipeline creation.
1. Ensure reps are fully working all high-priority accounts in the sales pipeline.
First, confirm that reps are working all the high-priority accounts in their books or territories. Are they working their accounts comprehensively? Are they engaging enough contacts in each account? Are they engaging often enough? Using enough channels? You want to be sure that reps are thoroughly engaging every single high-potential account in their book. If they're not, work with reps to ensure more complete coverage or reassign those accounts to reps with more capacity.
2. Identify holes in your market coverage.
Next, understand if all the high-potential accounts in your market are assigned out to reps. You may have holes because of rep turnover or assignment gaps, leaving territories uncovered or key accounts unworked. If there are holes in your account coverage - high-scoring or high-priority accounts with no owner - assign those accounts out to reps with available capacity.
3. Rebalance account books.
Conduct an evaluation of your reps' account books or territories. Do reps have the right number of accounts? Are there reps with too many or too few accounts? Are accounts generally evenly distributed or do you need to reallocate some accounts to even things out? You can't afford to waste any quota capacity right now, so make sure all reps have enough accounts to work.
4. Uncover counterproductive rep behaviors.
As part of your rep book evaluation, you will likely also uncover some counterproductive rep behaviors like account hoarding or spraying and praying. If reps are hoarding accounts but not actively working those accounts, you should redistribute some to reps who can and will work them. If reps are spamming hundreds of accounts with generic messaging in hopes of catching someone's attention, refocus them on working fewer accounts more deeply.
5. Implement returns and retrievals.
To keep reps constantly working the highest potential accounts in your market, you should implement a returns process. When a rep has worked an account to completion, allow that rep to return that account to a pool to rest. Replace that account with a fresh one. Be sure reps have continuously refreshed books, so they're always working the highest priority accounts in your CRM.
6. Find untapped segments in your market.
Analyze your closed-won and closed-lost deals from the first half of the year. Are there types of accounts that are moving better (or worse) than others right now? How can you figure out what segments you should be leaning into now, vs leaning away from? Focus reps on the kinds of accounts that are still closing. (This is something Gradient Works can help with, by the way - our market coverage intelligence can help you identify segments you should focus more resources on.)
