Pipeline velocity is the speed at which leads move through the sales pipeline from initial contact to becoming end customers. It is a key metric that reflects the efficiency and overall health of the sales process.
Pipeline velocity is influenced by various factors, including lead quality, sales cycle length, deal size and the effectiveness of sales and marketing efforts. By analyzing pipeline velocity, businesses can identify bottlenecks in their sales process, improve lead nurturing strategies and accelerate the time it takes to close deals.
In the context of indirect revenue, understanding pipeline velocity is essential for evaluating the performance of partner relationships. By tracking how leads generated through partner channels move through the pipeline, businesses can assess the quality of leads provided by partners and optimize their partner programs accordingly.
To improve pipeline velocity, the sales team implemented a new lead scoring system to prioritize the most qualified prospects and streamline the sales process.
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