Qualified opportunities are the lifeblood of your sales pipeline. But according to research by Gartner, a staggering 67% of B2B companies lack a systematic approach to managing opportunities. As a result, they leave an average 12% of potential revenue on the table. No wonder 45% report that generating enough leads is their biggest challenge.
Here are a few statements from a recent Flume survey that highlight the scale of the problem:
“I frequently observe sales reps prioritising maintenance of accounts over proactively pursuing new opportunities.”
“Sales reps often fail to define and focus on high-potential prospects, leading to wasted time on low-value opportunities.”
“I notice sales reps failing to properly qualify prospects during calls, leading to time wasted on low quality leads.”
Qualified opportunities and sales velocity
Number of qualified opportunities is one of the four sales velocity levers. When pulled correctly, it can deliver 50% more sales-ready leads at a 33% lower cost (according to HubSpot). It can also help move customers through the sales cycle 23% faster (Marketo), thereby improving sales velocity and predictable revenue growth.
The first best action your business can take to improve the number of qualified leads in your pipeline is to pinpoint where to focus efforts and how to remove the performance barriers that stand in the way of seller success. Then you’ll be in a better position to work smarter and equip teams with the skills and strategies to optimise performance and achieve predictable, scalable success.
6 root causes of qualified opportunity decline and winning solutions to drive up sales velocity
As a sales leader it’s time to ask yourself some big questions…
1. Is the wrong mindset holding your seller back?
Sellers in maintenance mode, i.e. those prioritising existing accounts, need to be shifted to a hunter mindset. They need to be proactively seeking out, identifying, and nurturing new business opportunities. Get this right, by cultivating a behaviour change from farmer to hunter, and your business could witness a 40% increase in opportunities and a 22% greater chance of achieving annual quotas.
2. Do you have a sound target account planning strategy?
Too often sellers lack the strategic approach necessary to deeply penetrate key accounts and uncover additional opportunities. This is a sure fire way to decrease qualified leads. Give your sales teams more control with the right strategic account planning tools and techniques and you’ll increase opportunity generation by 40%, which correlates to an approximate 20% increase in revenue growth.
3. Do your sellers know what the perfect prospect looks like?
What is your company’s Ideal Prospect Client (IPC)? If your sellers don’t know how to identify and target the right customers, they’ll inevitably waste time on the wrong ones. When sellers are equipped with the skills to define and target high-potential prospects, conversion rates will soar by 30% and conversion speeds will accelerate by 68%.
4. Is your messaging just too ignorable?
One-size-fits-all messaging is a one-size-fails-all approach to lead qualification. When sellers fail to resonate, engagement rates will suffer and opportunities decline. Conversely, crafting relevant, personalised messaging equals quantifiable advantage – 45% higher response rates and 30% more meetings.
5. Are your sellers good social sellers?
According to LinkedIn, reps who excel at social selling can generate 45% more sales opportunities and are 51% more likely to hit quota! But it’s not as simple as just getting on LinkedIn or X and dropping a few posts. Effective social selling requires sellers to be equipped with the skills to optimise social channels in ways that truly connect with prospects.
6. How good is your call quality really?
According to HubSpot, sellers who rigorously qualify prospects during calls reduce pipeline inefficiencies by 25% and increase close rates by 21%. During a recent webinar, Flume client Darren Loveday, Chief Growth Officer at Mention Me, said that sales leaders are remiss if they don’t take the time to evaluate how their sellers sell – he recommends listening into calls and evaluating them – identifying the barriers as well as the behaviours that work best. We couldn’t agree more.
Experience Flume’s differentiated approach to increasing qualified opportunities
The Number of Opportunities Programme within Flume’s Sales Velocity Training is designed to help sales teams shift from a reactive approach to a proactive, opportunity-driven strategy. It equips sellers with the mindset, tools, and techniques to identify, pursue, and convert high-value opportunities, ensuring a stronger, more predictable sales pipeline.
Take a read of the full course outline to find out more.
One more thing before you go. Our recent Sales Velocity webinar is now available to watch in full on-demand. Get the low down on lead qualification and the three other sales velocity levers, and how you can help sellers work smarter, not harder.