Meaning of the term sales or pipeline velocity in CRM software
In most CRM systems, the term sales velocity or pipeline velocity designates the average length of the sales cycle. The easiest way to think of sales velocity is 'how long does it take on average to close a sale'?
Having sales velocity data inside CRM answers several important questions. First, it shows you the average length of each sales or deal stage, indicating where you have opportunities to shorten your sales cycle. Second, it allows you to compare various sales agents - not only who closes more deals, but also who closes FASTER. Third, it helps you understand which products or business lines have the shortest or longest sales cycles.