In my last blog, I recommended that companies make sure that they continue to build pipeline during this Coronavirus hiatus, so that they are not caught flat-footed when this finally ends. But building new pipeline is hard work and it may seem to be a futile exercise when potential customers are understandably reluctant to make a purchase. Despite the reluctance, we’ve found our connect and conversation rates have only varied less than a percent up or down throughout the past five weeks.
I neglected to mention perhaps the most valuable asset that every company still has—an existing pipeline. Closed won sales may not be flowing through the pipeline right now and it may seem that your pipeline is stuck in time. However, one easy thing for companies to do is to consistently reach out to prospects and keep them warm. You want to always be top of mind with your prospects because when the pipeline does start flowing again, it is important that you have had the most recent touch with each of them. That way, you’ll be the one to get the first call, instead of your sleepy competitors.
Here at Reveneer, our experience over the past month is that prospects are more available to talk with our BDRs. For the first time in the history of the telephone, there are no gatekeepers, anywhere! They now have time for you and are more willing to talk. Maybe they are bored sitting at home or maybe they just need an excuse to avoid doing chores around the house.
The bottom line is to keep that pipeline warm. The warmer your prospects are, the faster the pipeline will flow once this is all over.