Companies that map out their sales process tend to close more deals. By having shorter, well-defined, sales cycles they are able to generate more revenue with less effort. The secret to it is nothing more than knowing what to focus on, and when.
A sales cycle typically involves identifying prospects, qualifying them, identifying their needs, making an offer they can’t refuse, and following up with their response. These are the stages you need to push your deal through to get a sale, and the best way to pass them is to define them.
When defining your sales cycle and stages, start by listing the steps you need to complete before a sale is made. Describe the most common way of getting customers, often referred to as sales pipeline or funnel.
Across most industries and markets, there’s a pretty standard series of sales stages. Pipedrive has adopted and simplified this lengthy standard into a flexible, and customizable, template that you can adjust and rename anytime.
Smaller teams with few prospects can easily manage sales with a text document or spreadsheet. Larger teams, however, should definitely invest in flexible sales pipeline management software that helps them spend less time on admin and more time selling.