Improve your prospect qualification process: Successful sales organizations have a “protect the pipeline” mentality. Sales leadership should enforce strict qualification criteria, using BANT (Budget, Authority, Need, Timeline) or a similar process. Qualifying prospects before they enter your pipeline (prior to becoming an opportunity), will result in a positive impact in close rate.

Improve your sales Process: Identify areas in the sales process where opportunities are converting at the lowest rate.

A sales process is made up of stages. Hunt for trends where stage progression is at its lowest. If you uncover a poor stage progression trend, develop & implement a plan to remedy it.

Improve the closing skills of your salespeople: Let’s say you haven’t found an issue in lead qualification or noticeable breakdown in your stage conversion, then turn your focus to sharpening your sales reps’ selling and closing techniques. There is nothing worse than finding viable prospects, spending time with them throughout the sales process, only to have them not buy your product or service. So, work closely with your sales reps on creating a more effective selling and closing strategy.