How to manage your sales cycle

Close deals faster by identifying and streamlining the steps in your sales process

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sales cycle management

What is a sales cycle exactly?

Every day in sales might look a bit different for you, but odds are there’s a pattern in how you turn prospects into loyal customers. Ask yourself, what are the steps I generally go through to close a deal? This is your sales cycle. By defining the steps, you demystify the process, which helps you identify roadblocks and know where to concentrate your efforts.

Key sales cycle stages

Although sales cycles vary by industry and business, most include some or all of the following elements:

6

Close a sale

Now’s the time to win this deal and get your customer’s signature on the dotted line. With training and experience, you’ll find your favourite techniques for closing.

5

Manage objections

Understanding the possible objections like price and timing, as well as preparing your sales team to handle them appropriately, will boost your win rate and speed up your sales process.

4

Present offer

At this critical phase, you need to present your offering as a solution to your prospect’s needs. Tailor your proposal in line with the info you gathered in the previous phases of the sales cycle.

3

Identify needs

You can only know whether your product is a good fit if you truly understand your prospect’s needs. Equip your team with the questions and resources they need to get the right data.

2

Initiate contact

Depending on the industry, the first contact is done via call, email, or even old-school post. Offering help, support, and information is more likely to be successful at this stage than a hard sell.

1

Prospecting

Finding new prospects to fill your pipeline is a vital first step. Define potential customers for your business and think of the best way to approach them.

Try sales cycle management software

Once you’ve defined your sales cycle stages, the next step is to monitor and measure metrics. This will uncover where your inefficiencies lie and where you’re excelling. Instead of adding this to your time-consuming pile of admin work, leave it to a sales cycle management software. Pipedrive gathers data, tracks goals, sends you activity reminders and much more.

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4 tips to improve your sales processes

Sales team

Look at your most consistent salespeople and analyse what they do. Record their activities and turn their techniques into an actionable and repeatable process for the rest of the team.

Build a cycle

Define your unique sales cycle to keep track of deals. For each of the phases, create easily accessible templates, checklists, and questions that your sales reps could use.

Set goals

Always set targets for the number of deals you want to have at each stage of the sales process, and at any time. Don’t forget to track the figures meticulously and tweak these goals if needed.

Always on top

Also set goals for how long a deal should stay at a sales cycle stage. If you see that a deal has no activity for longer than a certain period, immediately follow up to make sure the deal doesn’t fall through the cracks.

The tool of choice for scaling teams

We’ve built a visual CRM that’s not only great for salespeople, but for anyone wanting to get super organised and close deals in less time. There’s no 200-page list of functions and no two-day training required. Just log in, fill up your pipeline and start selling with a product designed to make selling beautiful.

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In our free 2-week email course Sales Pipeline Academy, Pipedrive co-founder Timo Rein teaches you how to make more sales with exclusive advice and insights in 11 revenue-boosting lessons. Join the 6,000+ salespeople who’ve already enrolled.

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Sales Cycle Management | Pipedrive
Sales Cycle Management | Pipedrive