{"id":8778,"date":"2021-08-13T09:30:00","date_gmt":"2021-08-13T04:00:00","guid":{"rendered":"https:\/\/kylas.io\/?p=8778"},"modified":"2023-02-27T17:04:35","modified_gmt":"2023-02-27T11:34:35","slug":"stages-of-sales-pipeline","status":"publish","type":"post","link":"https:\/\/kylas.io\/en\/sales-strategy\/stages-of-sales-pipeline","title":{"rendered":"7 Stages of Sales Pipeline Every Small Business Should Understand"},"content":{"rendered":"\n<style>\n@media only screen and (max-width: 700px){\n.img-full-mob{\nwidth:100% !important;\nheight:100% !important;\n}\n}\n<\/style>\n\n\n\n<p class=\"has-medium-font-size\">Whether you operate in B2B or B2C, reaching your sales targets takes humongous efforts. Sales reps work through various stages of a sales pipeline day in and out to <a href=\"https:\/\/kylas.io\/sales-effectiveness\/5-different-ways-to-ask-for-the-sale\" target=\"_blank\" rel=\"noreferrer noopener\"><u>close a deal<\/u><\/a>.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Now, you may want to ask what a sales pipeline is. If you go by the textbook definition, a sales pipeline is a tool that helps you visualize the specific sequence of actions your sales team takes to <a href=\"https:\/\/kylas.io\/crm-basics\/how-sales-crm-software-helps-improve-lead-conversion\" target=\"_blank\" rel=\"noreferrer noopener\"><u>convert leads<\/u><\/a>. Visual aid like this allows your sales reps to remain organized and focused on selling at every stage.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">However, for that to happen, you must be well-versed in all the sales pipeline stages.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-ht-block-toc  is-style-outline htoc htoc--position-wide toc-list-style-plain\" data-htoc-state=\"expanded\"><span class=\"htoc__title\"><span class=\"ht_toc_title\">Table of Contents<\/span><span class=\"htoc__toggle\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\"><g fill=\"#444\"><path d=\"M15 7H1c-.6 0-1 .4-1 1s.4 1 1 1h14c.6 0 1-.4 1-1s-.4-1-1-1z\"><\/path><path d=\"M15 1H1c-.6 0-1 .4-1 1s.4 1 1 1h14c.6 0 1-.4 1-1s-.4-1-1-1zM15 13H1c-.6 0-1 .4-1 1s.4 1 1 1h14c.6 0 1-.4 1-1s-.4-1-1-1z\"><\/path><\/g><\/svg><\/span><\/span><div class=\"htoc__itemswrap\"><ul class=\"ht_toc_list\"><li class=\"\"><a href=\"#htoc-the-7-stages-of-sales-pipeline\">7 Important Stages of the Sales Pipeline\u00a0\u00a0\u00a0<\/a><\/li><li class=\"\"><a href=\"#htoc-sales-pipeline-management\">Sales Pipeline Management- What it is? Why Should You Care?<\/a><\/li><li class=\"\"><a href=\"#htoc-advantages-of-sales-pipeline\">Advantages of Sales Pipeline<\/a><\/li><li class=\"\"><a href=\"#htoc-what-are-the-5-metrics-to-include-in-your-sales-pipeline\">What Are the 5 Metrics to Include in Your Sales Pipeline?<\/a><\/li><li class=\"\"><a href=\"#htoc-what-are-the-steps-to-creating-your-sales-pipeline\">What Are the Steps to Creating Your Sales Pipeline?<\/a><\/li><li class=\"\"><a href=\"#htoc-final-thoughts\">Final Thoughts&nbsp;&nbsp;<\/a><\/li><\/ul><\/div><\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-the-7-stages-of-sales-pipeline\"><strong>7 Important Stages of the Sales Pipeline\u00a0\u00a0<\/strong>\u00a0<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img data-src=\"https:\/\/kylas.io\/wp-content\/uploads\/2021\/08\/3-1.png\" alt=\"Pipe showing the different stages of a sales pipeline\" class=\"img-full-mob lazy\" width=\"768\" height=\"576\" title=\"7 Sales Pipeline Stages\"><figcaption>7 Sales Pipeline Stages<\/figcaption><\/figure><\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Multiple stages could pop up in sales pipelines if you have a B2B sales process.\u00a0\u00a0\u00a0<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Hence to make a simple representation of the pipeline, you can customize these seven sales steps to meet the needs of your small business. Plus, the\u00a0sequence of stages you can include will depend on your niche and your strategies for <a href=\"https:\/\/kylas.io\/sales-effectiveness\/lead-generation-small-businesses\" target=\"_blank\" rel=\"noreferrer noopener\"><u>lead generation<\/u><\/a> and deal conversion.\u00a0\u00a0\u00a0<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Remember, no one-size-fits-all sales pipeline structure can be applied uniformly to every industry. You will always have to customize the stages per your business\u2019s requirements.\u00a0\u00a0\u00a0<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">One of the smartest ways to decide when you should be pushing a deal through your pipeline is by setting the series of activities that need to be completed or requirements that need to be fulfilled, at every stage of your<a href=\"https:\/\/kylas.io\/sales-strategy\/sales-cycle-pipeline-funnel\" target=\"_blank\" rel=\"noreferrer noopener\"> <u>sales cycle<\/u><\/a>.\u00a0\u00a0<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-1-lead-generation-incoming\" style=\"font-size:22px\">1. Lead Generation or Incoming<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Most businesses use multiple ways to generate leads &#8211; including paid and non-paid campaigns.  <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Lead generation is the process of attracting prospects to your business and using various strategies to increase their interest through nurturing. The end goal- converting them into a customer. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-2-initiate-contact-contacting\" style=\"font-size:22px\">2. Initiating Contact or Contacting<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">In this pipeline stage, the salesperson tries to contact or contact the lead to get their business requirements. This stage helps you plan your business services concerning the lead\u2019s needs.\u00a0<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-3-lead-qualification-or-qualifying\" style=\"font-size:22px\">3. Lead Qualification or Qualifying<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">This is an important step in the sales pipeline stages. Here, the salesperson sees an opportunity or &#8216;potential to convert&#8217; with a customer. This is recorded in the pipeline stage and the next steps are taken cautiously in the direction of closing a deal successfully.&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-4-schedule-meeting-or-demo-building-relationships\" style=\"font-size:22px\">4. Schedule Meetings or Demo\/ Building relationships<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">After your initial conversation and requirements gathering, if the lead is convinced of your product features, a demo needs to be scheduled to give the customer a walkthrough of your product. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-5-negotiation\" style=\"font-size:22px\">5. Negotiation<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">This is the stage when the lead has shown interest in buying your product and you both now arrive at a stage where you can <a href=\"https:\/\/kylas.io\/sales-strategy\/art-science-winning-sales-negotiation\" target=\"_blank\" rel=\"noreferrer noopener\"><u>negotiate on price<\/u><\/a>, support services, terms, and other conditions to make a profitable sale. Once this is finalized, you can submit your proposal.\u00a0<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-6-closing-the-deal-or-closing\" style=\"font-size:22px\">6. Closing the Deal or Closing<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">This is almost the final stage in your sales process, where you get the desired outcome of your deal. Once the dealing or the final discussion has been done between you and the prospect, the sales manager can mark the deal as won or lost. In some cases, you may find customers who are not yet ready to buy. In that case, these particular customers can be marked separately for nurturing and can be traced back again.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-7-post-purchase\" style=\"font-size:22px\">7. Post-Purchase<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Your sales reps should invest time in monitoring the onboarding process, in short, the account\u2019s progress. At a convenient time, you can even cross-sell existing clients on new services and upsell them on newly added premium solutions. If you see your contract getting expired, you can explore various renewal options with them. You can also ask for referrals from your most satisfied clients and have a new bucket of leads.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:34px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\"><em>To leverage the sales pipeline, businesses need to ace <a href=\"https:\/\/kylas.io\/sales-strategy\/sales-pipeline-management\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"text-decoration: underline;\">Sales Pipeline Management<\/span><\/a>, which means managing every pipeline stage and tracking every sales opportunity. However, this is not as simple as it looks. <\/em><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-sales-pipeline-management\"><strong>Sales Pipeline Management<\/strong>&#8211; What it is? Why Should You Care?<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">To fully understand pipeline management, let us first see how it helps a salesperson.&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Sales Pipeline Management allows sales teams to focus on the predefined set of actions or activities that need to occur to help the prospect complete the purchasing process.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">As each sales pipeline stage is completed, the lead or deal moves to the next stage. This allows sales reps to track the status of every ongoing deal, track and eventually evaluate the relevant activities. Those activities may include cold calling\/ emailing new leads, setting up tasks or reminders to meet new prospects.\u00a0\u00a0<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">A well-managed pipeline will not only give you precise insights into your sales team performance but also exactly where show you the exact areas where improvements can be made.&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">A sales pipeline gives you a visual representation of opportunities that exist at different stages of your sales process, along with the number of deals and their value.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Using a sales pipeline helps your sales team get meaningful insights on their prospects to help them understand which deals to focus on, which activity demands their greater attention, and forecast the profits for the coming months. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">The absence of a well-defined sales pipeline can put you at risk of missing important leads and converting them into valuable customers.&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"ub-styled-box ub-notification-box\" id=\"ub-styled-box-56d40f4e-00d9-4723-831f-3642fb020e55\">\n\n\n<p class=\"has-medium-font-size\">Modern pipeline management systems like CRMs can help your sales team visualize the number of open leads &amp; deals, their status, expected sales, and more through a visual sales pipeline. If you too are on the lookout for a pipeline management tool for your sales team you can <a href=\"https:\/\/kylas.io\/?ref=signup\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"text-decoration: underline;\">sign up here for a free CRM trial<\/span><\/a>.<\/p>\n\n\n<\/div>\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-advantages-of-sales-pipeline\"><strong>Advantages of Sales Pipeline<\/strong><\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img data-src=\"https:\/\/kylas.io\/wp-content\/uploads\/2021\/08\/In-blog-Infographics-4.png\" alt=\"Infographic explaining advantages of sales pipeline\" class=\"img-full-mob lazy\" width=\"768\" height=\"576\" title=\"Advantages of Sales Pipeline\"><figcaption>Advantages of Sales Pipeline<\/figcaption><\/figure><\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-1-insight-into-deals\" style=\"font-size:22px\">1. Insight Into Deals&nbsp;&nbsp;<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">With a well-defined sales pipeline, you can get meaningful and strategic insights of every lead or deal generated, time is taken to convert, their requirements etc. In other words, it helps sales reps better understand and evaluate why some sales deals failed while others succeeded.&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-2-helps-identifying-bottlenecks\" style=\"font-size:22px\">2. Helps Identifying Bottlenecks&nbsp;&nbsp;<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Waiting for a lead to convert into a profitable deal can be very frustrating. Pipelines help sales managers and sales reps identify <a href=\"https:\/\/kylas.io\/sales-effectiveness\/sales-challenges-growing-b2b-businesses-face\" target=\"_blank\" rel=\"noreferrer noopener\"><u>bottlenecks in their sales cycle<\/u><\/a>, and work on the weak points.&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-3-measure-team-performance\" style=\"font-size:22px\">3. Measure Team Performance&nbsp;&nbsp;<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">A sales pipeline gives you clarity into the overall performance of each sales reps in your team. This indicative figure can help you monitor which salesperson is close to completing his assigned sales target and prepare for any potential sales slumps.&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-4-predict-revenue\" style=\"font-size:22px\">4. Predict Revenue&nbsp;&nbsp;<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Through a sales pipeline, you can get an approximate calculation of the revenue that you will be able to generate from a particular customer\/ deal. This data and information are used by the sales managers and leaders to predict monthly\/ quarterly or annual revenue generations. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-what-are-the-5-metrics-to-include-in-your-sales-pipeline\">What Are the 5 Metrics to Include in Your Sales Pipeline?<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img data-src=\"https:\/\/kylas.io\/wp-content\/uploads\/2021\/08\/metrics-in-sales-pipeline-1.png\" alt=\"\" class=\"img-full-mob lazy\" width=\"768\" height=\"576\" title=\"5 Metrics to Include in Your Sales Pipeline\"><figcaption><strong>5 Metrics to Include in Your Sales Pipeline<\/strong><\/figcaption><\/figure><\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Make sure your sales pipeline is covering all the basics such as separate sales pipeline stages and also important metrics, such as:&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-source-of-leads\" style=\"font-size:22px\">1. Source of Leads<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Examine and record how your prospects have learnt about your business or services. The sources could include digital ads, databases, social media marketing, email campaigns, customer referrals, or any other marketing and sales methods.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-industry\" style=\"font-size:22px\">2. Industry<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Your product may work better in certain industries as compared to the others. That said, you can use this insight to target a set of particular buyers from those industries.&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-decision-makers-involved\" style=\"font-size:22px\">3. Decision-makers Involved in the Sales<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\"> It is a good practice to keep key decision-makers or leaders as contacts from your prospective clients. The more the better! This way you can approach them separately using different strategies.&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-deal-size\" style=\"font-size:22px\">4. Deal Size<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Always segment your buyers and personalize your pitches according to the amount they are willing to spend on your product.&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-probability-to-close\" style=\"font-size:22px\">5. Probability to Close<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Chances are not all the high-value leads will convert to winning, profitable deals.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Hence, it is even more essential to keep and maintain an estimation of the likelihood of each lead converting into a client, based on communications and interactions with them, their current stage in the pipeline, and other conditions.&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-what-are-the-steps-to-creating-your-sales-pipeline\">What Are the Steps to Creating Your Sales Pipeline?<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img data-src=\"https:\/\/kylas.io\/wp-content\/uploads\/2021\/08\/In-blog-Infographics-3.png\" alt=\"Ladder with all the steps needed to create a sales pipeline\" class=\"img-full-mob lazy\" width=\"768\" height=\"576\" title=\"Steps to Create a Sales Pipeline\"><figcaption>Steps to Create a Sales Pipeline<\/figcaption><\/figure><\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-1-setting-up-potential-buyers\" style=\"font-size:22px\">&nbsp;1. Setting Up Potential Buyers<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">First and foremost, import the data of all your potential customers into your sales pipeline, and assign them different deal stages, depending on where they are currently placed in their buying journey.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Identifying the stages your deals are in will help you in segmenting possibilities and opportunities for each stage. &nbsp;Use dedicated CRM software to set up and categorize your prospects to better manage your interactions with them.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">For example, if a prospect has asked for a demo of your product, then the lead would be in the \u2018schedule demo\u2019 or \u2018contacting\u2019 stage.&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Similarly, if a lead has shown interest to use or buy your product, has attended the demo by your sales rep, in the process of discussing the terms and conditions of the proposal, then you can put the lead in the \u2018closing the deal stage\u2019 of your sales pipeline.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-2-define-sales-stages\" style=\"font-size:22px\">2. Define Sales Stages&nbsp;&nbsp;&nbsp;<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Spread out the activities of your buyer\u2019s journey in your sales process as clear and defined stages and allocate each prospect to one of them. <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">When doing this, understand your customer\u2019s perspective. No two buyers are the same and while sales activities may differ from customer to customer, assigning them at the start of every deal brings clarity to your sales team.&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Sales activities like sending emails, connecting with the prospect over the call or creating content for any promotional emails are few examples for which you need to designate responsibilities to different teams.&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-3-review-your-sales-cycle\" style=\"font-size:22px\">3. Review Your Sales Cycle<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Change the stages of your sales to accommodate any activity you find your sales team continuously engaging. Defining your sales cycle time will help you to decide the ideal sales pipeline size.&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">What are obvious signs that an interested prospect is going to move forward to the next stage in the pipeline? <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Are there any common patterns among the buyers that indicate they\u2019re interested in purchasing your product, or what action by the sales rep has been most effective for conversion in that stage? <\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">What is the number of leads or deals your pipeline should have for your sales team to reach your target for the month, quarter, or year?\u00a0\u00a0<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"htoc-4-update-your-sales-process\" style=\"font-size:22px\">4. Update Your Sales Process<\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Review your sales processes regularly and check how the leads and deals move through your pipeline as they unfold. With time, the likelihood of converting and winning the deal reduces, often turning it into a lost deal. therefore, if you find a stagnant deal stuck in the pipeline for a long time, it\u2019s time to pay attention and nip it from the pipeline.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"htoc-final-thoughts\"><strong>Final Thoughts&nbsp;<\/strong>&nbsp;<\/h2>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">Your sales pipeline not only offers a practical view of the performance of your sales process but also answers questions such as, \u201cHow soon are we going to reach our target?\u201d \u201cHow many deals are we going to convert this week?\u201d and \u201cWhich part of our sales pipeline needs our attention?\u201d Ultimately, it creates the foundation for you to convert prospects, leading to more sales.&nbsp;&nbsp;<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">While the ideal sales process for your business may change over time, the easiest way to power up your sales pipeline is with the help of a customized CRM system. According to a report, about <a href=\"https:\/\/business.linkedin.com\/sales-solutions\/b2b-sales-strategy-guides\/the-state-of-sales-2021-report\" target=\"_blank\" rel=\"noreferrer noopener\">70% of salespeople<\/a> say using the right CRM system is &#8220;very important&#8221; for closing deals.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<div class=\"ub-styled-box ub-notification-box\" id=\"ub-styled-box-316e2faa-b0c4-4329-9dc2-9ff33c1b3d55\">\n\n\n<p class=\"has-white-background-color has-text-color has-background has-medium-font-size\" style=\"color:#0071a1\">Interested in taking your pipeline to the <u>next level of automation<\/u> with\u00a0Kylas? <a href=\"https:\/\/kylas.io\/?ref=demo\"><u>Sign up here for a free CRM trial<\/u><\/a> to learn how our <u><span style=\"text-decoration: underline;\"><a href=\"https:\/\/kylas.io\/sales-effectiveness\/small-businesses-need-sales-crm-software\" target=\"_blank\" rel=\"noreferrer noopener\">sales CRM software<\/a><\/span><\/u> can help you be more productive.<\/p>\n\n\n<\/div>\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p class=\"has-medium-font-size\">&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Whether you operate in B2B or B2C, reaching your sales targets takes humongous efforts. Sales reps work through various stages of a sales pipeline day in and out to close a deal. Now, you may want to ask what a sales pipeline is. If you go by the textbook definition, a sales pipeline is a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/kylas.io\/en\/sales-strategy\/stages-of-sales-pipeline\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;7 Stages of Sales Pipeline Every Small Business Should Understand&#8221;<\/span><\/a><\/p>\n","protected":false},"author":23,"featured_media":14665,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"ub_ctt_via":"","footnotes":""},"categories":[34,36],"tags":[4,8,22],"acf":[],"featured_image_src":"https:\/\/kylas.io\/en\/wp-content\/uploads\/2021\/08\/PB-Banner-Guide-Images-ONLY-6-1.jpg","author_info":{"display_name":"Shagun Sharma","author_link":"https:\/\/kylas.io\/en\/author\/shagun"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>7 Stages of Sales Pipeline Every Small Business Should Know<\/title>\n<meta name=\"description\" content=\"Learn about sales pipeline stages include lead generation, contacting, qualification, building relationships, negotiation, closing &amp; more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kylas.io\/en\/sales-strategy\/stages-of-sales-pipeline\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"7 Stages of Sales Pipeline Every Small Business Should Know\" \/>\n<meta property=\"og:description\" content=\"Learn about sales pipeline stages include lead generation, contacting, qualification, building relationships, negotiation, closing &amp; more.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kylas.io\/en\/sales-strategy\/stages-of-sales-pipeline\" \/>\n<meta property=\"og:site_name\" content=\"Kylas Growth Engine | Sales CRM Software for Small businesses\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kylas.io\/en\/wp-content\/uploads\/2021\/08\/PB-Banner-Guide-Images-ONLY-6-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shagun Sharma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shagun Sharma\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"7 Stages of Sales Pipeline Every Small Business Should Know","description":"Learn about sales pipeline stages include lead generation, contacting, qualification, building relationships, negotiation, closing & more.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/kylas.io\/en\/sales-strategy\/stages-of-sales-pipeline","og_locale":"en_US","og_type":"article","og_title":"7 Stages of Sales Pipeline Every Small Business Should Know","og_description":"Learn about sales pipeline stages include lead generation, contacting, qualification, building relationships, negotiation, closing & more.","og_url":"https:\/\/kylas.io\/en\/sales-strategy\/stages-of-sales-pipeline","og_site_name":"Kylas Growth Engine | Sales CRM Software for Small businesses","og_image":[{"width":1024,"height":768,"url":"https:\/\/kylas.io\/en\/wp-content\/uploads\/2021\/08\/PB-Banner-Guide-Images-ONLY-6-1.jpg","type":"image\/jpeg"}],"author":"Shagun Sharma","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Shagun Sharma","Est. reading time":"10 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/kylas.io\/en\/sales-strategy\/stages-of-sales-pipeline","url":"https:\/\/kylas.io\/en\/sales-strategy\/stages-of-sales-pipeline","name":"7 Stages of Sales Pipeline Every Small Business Should Know","isPartOf":{"@id":"https:\/\/kylas.io\/en\/#website"},"datePublished":"2021-08-13T04:00:00+00:00","dateModified":"2023-02-27T11:34:35+00:00","author":{"@id":"https:\/\/kylas.io\/en\/#\/schema\/person\/58914992bfe5c67716dfe2e8863250a3"},"description":"Learn about sales pipeline stages include lead generation, contacting, qualification, building relationships, negotiation, closing & more.","breadcrumb":{"@id":"https:\/\/kylas.io\/en\/sales-strategy\/stages-of-sales-pipeline#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/kylas.io\/en\/sales-strategy\/stages-of-sales-pipeline"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/kylas.io\/en\/sales-strategy\/stages-of-sales-pipeline#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/kylas.io\/en\/"},{"@type":"ListItem","position":2,"name":"7 Stages of Sales Pipeline Every Small Business Should Understand"}]},{"@type":"WebSite","@id":"https:\/\/kylas.io\/en\/#website","url":"https:\/\/kylas.io\/en\/","name":"Kylas Growth Engine | Sales CRM Software for Small businesses","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/kylas.io\/en\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/kylas.io\/en\/#\/schema\/person\/58914992bfe5c67716dfe2e8863250a3","name":"Shagun Sharma","description":"Shagun is a content marketer at Kylas, extremely well-versed in all things Marketing. 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