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Published in Product Update category on (08/14/2013)

Increasing Pipeline Velocity with Events

Sales people are pipeline people. They’re interested in how many deals they have at each stage of the sales process, how many are expected to close this month, next month, next quarter, and beyond. They’re also tuned into pipeline velocity—the speed at which deals move from opportunity to close. The faster deals close, the sooner most sales people can get paid!

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But pipelines aren’t just a sales thing.

Today’s marketers look at their pipelines as well. They’re looking at the growth and pace of Marketing Qualified Leads (MQLs), Sales Accepted Leads (SALs), and then closed deals.

The resulting lead-to-sales pipeline—from marketing through sales—looks something like this:

This comprehensive view of the pipeline puts sales and marketing on equal footing when it comes to their responsibility for expanding the pipeline and decreasing the time it takes to move from first touch to a closed sale.

You’re probably wondering how all of this pipeline talk relates to events.

Organizations have the opportunity to use events to move prospects more quickly along their natural buying process to increase marketing and sales pipeline velocity.

In the case of business events, typical attendees are already in or about to enter an organization’s marketing-sales pipeline. Events can provide these prospective customers with information, connections, and other experiences to help them accelerate their place in the buying process one or multiple steps forward. Because events take place in a live environment, they allow for the type of interaction, conversations, Q&A, and hands-on exploration required to overcome barriers, prove value, and incite action. What might have taken attendees weeks to find online or months to connect with other customers or experts, can be accomplished in real-time at events.

And today’s events are becoming digitized, taking full advantage of technology to drive more personalized, informative, and engaging experience for attendees than ever before. What’s more, event management software is being integrated with marketing automation to deliver deeper attendee profiles that can be used to nurture customers even after the event is over.

In the end, what we’re talking about here is speeding up pipeline velocity. By reducing the number of days required to make a sale, we open up marketing and sales people to continue their focus on adding more people to the pipeline.

How will you transform your event channel to speed pipeline velocity? Download our latest guide: Creating Powerful Face-to-Face Events in a Digital World.

 

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