Feature Highlight: Deal Stages

By Erika Sommer, Content Writer at PipelineDeals

Are you a novice to the Customer Relationship Management (CRM) world? Or have you used other CRM’s, only to get bogged down by the unnecessary accessories they come with?

Wherever you’re funneling in from, and whether or not you’ve used a CRM (or better yet a deal stage), we’re going to show you why it’s important, and why you should care. So, let’s go ahead and break it down for you.

Deal Stages

At PipelineDeals, we like to think of a deal as an opportunity in your sales pipeline. It’s the catalyst that gets the engine moving. And the better you are at defining these opportunities, the more you will be aware of how to progress from one stage to the next, and close those deals faster.

So, if you have a deal you’re trying to move through your sales pipeline, you’ll want to be able to manage and organize the process along the way. This is where our deal stages come into play.

With PipelineDeals, you can assign which stage of the sales journey the deal is in. You can do so by customizing deal stages to match your own workflow and sales process. Our default deal stages include:

  • Qualified Lead
  • Proposal
  • Contract
  • Signed

Of course, the deal stages are completely customizable, allowing you to add or delete deal stages to suit your own needs. For example, our customers have created over 7,000 unique deal stages.

Some of our most popular include:

  • Cold Call
  • Conversation
  • Voicemail
  • Email
  • Phone Call
  • Appointment/Meeting
  • Proposal
  • Contract
  • Quote

Let’s create a scenario, so you can get a better glimpse at how they work in action.

Say you’re in the restaurant business, and you’re trying to negotiate a deal with a potential beverage client. You’ll want a way to track and follow this deal through your pipeline, so you can see how close you are to winning it.

With PipelineDeals, you’ll be able to keep record of each stage of the deal in your pipeline. For example, if you just had a meeting with the client and are in the negotiation stage, you can switch your deal status from meeting stage to the negotiation phase. Just keep in mind that you’ll have to have admin status to be able to change the stage.

Why is changing the status of your deal so important? Well, visibility and transparency is key to the success of any company. You want your team to have full visibility and access to the different stages of the sales process.

What’s also nice about deal stages is you can give them a probability percentage number, that let’s your team know the likelihood of the deal closing.

You can add the probability column to your Deals Tab and then sort deal stages by probability percentage.

So, for example, if at the negotiation stage there is an 80 percent chance the deal will close, you can change it so it will reflect that percentage.

This is a useful tool for giving your team insight into how likely it is that a deal is going to close, based on its stage in the sales pipeline.

Consensus

Deal stages are a powerful feature within PipelineDeals. They give you a glimpse into which part of the sales process your deal is in, as well as how far you have to go before a potential win.

If you want to learn more about deal profiles, as well as deal stages, check out our knowledge base, where you’ll find a wealth of resources.

Or, if you want to go ahead and try out PipelineDeals for yourself, try a free, 14-day trial with us today!