How to Create a Winning Sales Pipeline Template in Excel?

Sales are the lifeblood of any business. Getting the most out of your sales team necessitates getting down to the essentials. Streamlining the effectiveness of the sales process is one of the nitty-gritty.

A sales pipeline template in Excel is a powerful tool that can help you track your sales process. It can help identify which sales stages are performing well and which need improvement.

Ineffective and obscured, XYZ Inc.’s sales procedure required improvement. They needed more insight into and a better handle on the sales process. They created a sales pipeline template in Excel to help them out.

From the template, they achieved the following;

• Tracked their sales process from start to finish.
• Tracked which process stages were taking too long and identified bottlenecks.
• Gained visibility into which sales stages performed well and which ones needed improvement.

As a result, they were able to refine their sales procedure and boost their sales.

In this blog, you’ll learn the following:

• What is a Sales Pipeline?
• What is the Purpose of Sales Pipeline Analysis?
• Best Charts to Use for Sales Pipeline Template in Excel
• How to Create a Sales Pipeline in Excel?
• How to Install ChartExpo in Excel?

Continue reading to learn how to create a sales pipeline template in Excel.

What is a Sales Pipeline?

A sales pipeline is a visual representation of the stages of the sales process. It helps track the progress of leads through the sales cycle. From initial contact to qualification, opportunity, and close. The sales pipeline also helps identify which sales process stages necessitate improvements.

A sales pipeline can help sales teams with the following;

• Monitor progress.
• Prioritize the most promising leads.
• Identify areas where improvements are necessary.
• Forecast future sales.

What is the Purpose of Sales Pipeline Analysis?

Sales pipeline analysis helps you learn how well your sales process is doing.

The following are five common purposes of sales pipeline analysis:

1. Tracking the progress of leads through the sales cycle.
2. Identifying which sales stages are performing well and which need improvement.
3. Identifying potential bottlenecks in the sales process.
4. Analyzing the performance of the sales process over time.
5. Identifying areas of improvement and potential opportunities.

Best Charts to Use for Sales Pipeline Template in Excel

Sankey Chart

The Sankey Chart is a flow-based data visualization. It shows the flow of information from one point to another. It is a great way to visualize the different stages of your sales pipeline. Consequently, see where the most significant opportunities lie.

The Sankey Chart allows you to see the flow of leads from one step to the next. This makes it easy to spot any issues causing low conversion rates.

It also reveals which stages of the sales pipeline are the most successful. So you can focus your efforts on those areas, maximize your sales, and reach your goals faster.

The Sankey Chart can also help to evaluate variations in the sales process. Doing so lets you focus on problem areas that need fixing. Consequently, work to fix them to boost your chances of success.

Example

Assume you have this sales pipeline data. You can create a sales pipeline template in Excel with a Sankey Chart to visualize the insights.

Funnel Chart

The Funnel Chart displays all sales process stages, from lead generation to the actual sale. It shows the number of opportunities in each stage and the income generated.

When it comes to monitoring and assessing sales results, the Funnel Chart is invaluable. You can make adjustments to drive more sales by zeroing in on problem spots.

You can use it to spot problems affecting sales performance. Let’s assume that leads are much higher in the initial stage than sales are in the subsequent phases. This can be a sign that the sales process is not operating effectively. Using this information, you can make necessary adjustments to fix the issue.

It’s also useful for comparing various sales teams. Organizations with several sales departments may benefit greatly from this.

The Funnel Chart is also a great way to identify and track key performance indicators (KPIs). Let’s say you aim to increase sales by a certain amount. You can use the Funnel Chart to track progress against that goal. This can help you identify and focus on areas necessitating improvements to achieve your goals.

Example

Let’s say you have this data.

Let’s see how the Funnel Chart visualizes the data to make analysis easier.

How to Create a Sales Pipeline in Excel?

Do you need a quick approach to creating a sales pipeline in Excel? ChartExpo can help you achieve your goal effortlessly.

ChartExpo is a powerful yet easy-to-use Excel add-in. It lets you create insightful sales pipelines with just a few clicks. You can organize your sales data into a visually appealing pipeline. Thus, tracking your sales progress and identifying potential trends and opportunities gets easier.

Benefits of Using ChartExpo

• There are many customization options available with ChartExpo. You can customize the aesthetics by adjusting the colors, size, and fonts. Consequently, design visualizations that accurately present the data and tell a story.
• You’ll find it easy to navigate ChartExpo. You can make interactive visualizations without prior coding experience. Thus, it is ideal for both seasoned and novice users.
• ChartExpo is cost-friendly. If you’re on the fence about signing up, you can try it out with a free trial. It also has inexpensive plans, so you can access numerous charting tools without breaking the bank.

How to Install ChartExpo in Excel?

1. Launch your Excel program.
2. Open the worksheet and navigate to the “Insert” tab.
3. You will find the “My Apps” section.
4. Select the “Store” option in the Office Add-ins window and search for ChartExpo in the My Apps Store.
5. Click the “Add” button to install ChartExpo in your Excel.

You can use ChartExpo in either Google Sheets or Microsoft Excel. Use the CTAs provided to install ChartExpo. Then create appealing visualizations with a few clicks on the program of your preference.

1. Once ChartExpo is installed, click the Microsoft Excel “INSERT” menu and the “My Apps” submenu, as shown below.

2. Once you click “My Apps”, the “Apps for Office” window will open. Choose ChartExpo from the list and click the “Insert” button.

3. When ChartExpo loads, it will display a list of charts.

4. Scroll through the charts until you come across the “Funnel Chart”.

5. Input the data into the sheet. Then highlight the data from the sheet and click the “Create Chart From Selection” button.

6. ChartExpo will generate the following visualization for you.

7. Click the “Edit Chart” button to customize the chart.

8. Click the pencil icon adjacent to the ‘Chart Header’ to change the chart’s title. This will open a dialog box. In the ‘Text’ section, type the desired title in ‘Line 1’ and activate the ‘Show’ option. Then click the “Apply” button.

9. To add a color to any funnel level, click the pencil icon of that specific level. In the Funnel properties, choose the appropriate color and click the “Apply All” button to save the alterations.

10. To keep the changes made to the chart, click the “Save Changes” button.

11. The final chart will look like the one below.

Insights

• Initially, 100K people were contacted.
• 69K were deemed qualified leads.
• 45K showed up for the demonstration.
• 23K expressed interest in the proposal.
• 11K made it to the evaluation level.
• 6K reached the closing stage.
• The overall takeaway is that approximately 6% of the 100K people initially targeted became customers. A huge opportunity exists to satisfy the remaining 94% by improving product features or sales tactics.

FAQs:

What is a sales pipeline?

A sales pipeline shows the numerous sales prospects you have and where they are at different stages of the purchasing process. This pipeline tracks the progress of a customer through each stage. Consequently, identify areas where you can make improvements to increase sales.

What is a sales pipeline template in Excel?

A sales pipeline template tracks the progress of leads or prospects through the sales process. It is an organized way to visualize and keep track of sales leads or prospects. This helps businesses identify areas of success and failure in the sales process.

What is the best way to build a sales pipeline?

ChartExpo is an excellent tool for creating charts that help you build your sales pipeline. With ChartExpo, you can design insightful charts that;

• Give an overview of your sales performance.
• Track customer engagement.
• Monitor progress towards predetermined goals.

What is the purpose of sales pipeline analysis?

Sales pipeline analysis provides insights into the following;

• Where deals are in the pipeline?
• How many deals are stuck at each stage?
• How long it has taken to close deals at each stage?

Thus, you can identify and actuate process improvements and close more deals faster.

Wrap Up:

A sales pipeline template in Excel is a powerful tool for monitoring your sales process. It helps identify which sales stages are performing well and which need improvement.

The best charts to use in a sales pipeline template are the Funnel Chart and the Sankey Chart. The Funnel Chart helps track the progress of leads from initial contact, qualification, and close. The Sankey Chart helps identify which sales stages are taking too long or need improvements.

Creating a sales pipeline in Excel is easy with ChartExpo. It helps you create insightful charts in Excel. Therefore, you can create the Funnel Charts and Sankey Charts with ease.

Now you know what a sales pipeline is and the purpose of sales pipeline analysis. You also possess the skills to create a sales pipeline in Excel with ChartExpo.

So, what are you waiting for?

Start creating your sales pipeline template in Excel with ChartExpo today.