them through different stages of the pipeline. Always remember that your sales pipeline is your inventory.A sales pipeline looks at different steps in the sales process. It is usually a 6 stage process :
Stage 1: Is about prospecting your leads.
Stage 2: Qualification of leads and initial meeting.
Stage 3: Is where an offer is made.
Stage 4: Is where negotiation and the proposal are finalized.
Stage 5: Is where a deal is closed.
Stage 6: Is where the product or the service is delivered.
People are always confused between a sales pipeline and a sales funnel, they both are different, serving different objectives.
A sales funnel looks at the customer journey, creating awareness, evaluating and it’s all about loyalty to the customer.
Whereas a sales pipeline looks at different steps in the sales process, from prospecting leads to negotiation and closing deals. It’s where the product or the service is delivered.
There is a formula to identify a prospect, we call it the M.A.N.T formula. The way you
know you have a prospect is through money, authority, need, time frame.
Before building your pipeline, you must :
➤ Have a list of prospective buyers.
➤ A sales process.
➤ A defined revenue target.
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