Read a really interesting post on the Inflexion point blog today comparing a sales pipeline to that of the somewhat troublesome BP pipelines in the Gulf of Mexico. Whilst Barack Obama may not want to tie your sales pipeline around your neck and squeeze real tight (an action he'd happily pursue with the BP version and their directors), I can see the correlation. There are leaks, there are clogs and as BP are finding out to their considerable cost, things don't always go to plan.
Naturally, I scoured the advice to prevent these issues, looking for where sales intelligence and automated media monitoring had a space in the solution. It came with the point 'Qualification should be a continuous process'. The principle here is that nothing ever stays constant. The company you pitch to will ultimately be a very different company you eventually sell to. Actions and events will occur during the sales cycle that will change relationships, needs, wants and desires.
Research you do on a company before the initial contact will be outdated by the time you come to closing the deal. It is up to you to keep on top of events and continue to track elements that could make or break your deal. BP didn't have the luxury of monitoring their pipes deep under water, and only noticed the structural flaw in design once the chaos had started. And make no mistake, this will cost them billions. Businesses are fortunately in a position to react much quicker, and make no mistake, they can save a heck of a lot money doing just that.
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