Deal Stages and Pipelines

Professor: Kyle Jepson

Brought to you by HubSpot Academy

WHY YOU SHOULD
CUSTOMIZE YOUR
DEAL STAGES
 Have you customized your deal stages?
Every sales process is differenthave you customized the CRM to match yours?
 Does each deal stage
mean the same thing to
everyone on your team?

PIXABAY
 Do your sales reps
always know when to
move a deal from one
stage to the next?

CREATIVE COMMON
Do you know how
likely a deal is to
close based on
the stage its in?

CREATIVE COMMON
IF THE ANSWER TO ANY OF
THESE QUESTIONS IS NO,
YOURE LOSING MONEY.
HOW TO CUSTOMIZE
YOUR DEAL STAGES
 IDENTIFYING COMMON STEPS

Convince them Follow up Follow up Follow up

Iden)fy a they have a Follow up Follow up Follow up
Seller company problem Find )me Demo product Follow up Schedule mee)ng Educate team Follow up Send contract Follow up
to meet with team
Buyer Explore product Discuss oering Team evaluates Decide on a plan Legal review Sign/Return
with team contract
REFINING YOUR SALES PROCESS
Only include steps that are REQUIRED.

Only include steps that are FACTUAL and INSPECTABLE.

Prioritize BUYER ACTIONS over seller actions.

Remove REDUNDANCY.
REFINING YOUR SALES PROCESS
Only include steps that are REQUIRED.

Only include steps that are FACTUAL and INSPECTABLE.

Prioritize BUYER ACTIONS over seller actions.

Remove REDUNDANCY.
WHAT IS REQUIRED?
A required step is one you want your reps to take in every
sale, no matter what.
 IDENTIFYING COMMON STEPS

Convince them Follow up Follow up Follow up

Iden)fy a they have a Follow up Follow up Follow up
Seller company problem Find )me Demo product Follow up Schedule mee)ng Educate team Follow up Send contract Follow up
to meet with team
Buyer Explore product Discuss oering Team evaluates Decide on a plan Legal review Sign/Return
with team contract
 IDENTIFYING COMMON STEPS

Seller Demo product Educate team Send contract

Buyer Explore product Team evaluates Decide on a plan Legal review Sign/Return
contract
REFINING YOUR SALES PROCESS
Only include steps that are REQUIRED.

Only include steps that are FACTUAL and INSPECTABLE.

Prioritize BUYER ACTIONS over seller actions.

Remove REDUNDANCY.
WHAT IS FACTUAL?
A factual step is tied to a specific action, rather than being
based on a feeling.
WHAT IS INSPECTABLE?
An inspectable step can be verified by a record inside
the CRM.
 IDENTIFYING COMMON STEPS

Seller Demo product Educate team Send contract

Buyer Explore product Team evaluates Decide on a plan Legal review Sign/Return
contract
IDENTIFYING COMMON STEPS

Seller Demo product Educate team Send contract

Buyer Explore product Team evaluates Sign/Return

contract
REFINING YOUR SALES PROCESS
Only include steps that are REQUIRED.

Only include steps that are FACTUAL and INSPECTABLE.

Prioritize BUYER ACTIONS over seller actions.

Remove REDUNDANCY.
IDENTIFYING COMMON STEPS

Seller Demo product Educate team Send contract

Buyer Explore product Team evaluates Receive Sign/Return

contract contract
REFINING YOUR SALES PROCESS

Explore Team Receive Sign/Return

product evaluates contract contract
REFINING YOUR SALES PROCESS
Only include steps that are REQUIRED.

Only include steps that are FACTUAL and INSPECTABLE.

Prioritize BUYER ACTIONS over seller actions.

Remove REDUNDANCY.
REFINING YOUR SALES PROCESS

Explore Team Receive Sign/Return

product evaluates contract contract
CREATING YOUR DEAL STAGES
Deal stage names should be in the past tense.

Make sure you have a stage for deals that have been won.

Make sure you have a stage for deals that have been lost.

Add a 0th stage.

Assign each deal stage a probability of closing.

CREATING YOUR DEAL STAGES
Deal stage names should be in the past tense.

Make sure you have a stage for deals that have been won.

Make sure you have a stage for deals that have been lost.

Add a 0th stage.

Assign each deal stage a probability of closing.

PAST TENSE
Explore product Product explored

Team evaluates Product evaluated

Receive contract Contract received

Sign/Return contract Contract signed and returned

CREATING YOUR DEAL STAGES
Deal stage names should be in the past tense.

Make sure you have a stage for deals that have been won.

Make sure you have a stage for deals that have been lost.

Add a 0th stage.

Assign each deal stage a probability of closing.

CLOSED - WON
Product explored

Product evaluated

Contract received

Contract signed and returned

CREATING YOUR DEAL STAGES
Deal stage names should be in the past tense.

Make sure you have a stage for deals that have been won.

Make sure you have a stage for deals that have been lost.

Add a 0th stage.

Assign each deal stage a probability of closing.

CLOSED - LOST
Product explored

Product evaluated

Contract received

Contract signed and returned

Closed - Lost
DEALS OUGHT TO
REPRESENT SALES THAT
HAVE A REAL CHANCE
OF CLOSING.
STAGE 0
Appointment scheduled

Product explored

Product evaluated

Contract received

Contract signed and returned

Closed - Lost
CREATING YOUR DEAL STAGES
Deal stage names should be in the past tense.

Make sure you have a stage for deals that have been won.

Make sure you have a stage for deals that have been lost.

Add a 0th stage.

Assign each deal stage a probability of closing.

BE CAREFUL:
Many teams open deals too early.
CREATING YOUR DEAL STAGES
Deal stage names should be in the past tense.

Make sure you have a stage for deals that have been won.

Make sure you have a stage for deals that have been lost.

Add a 0th stage.

Assign each deal stage a probability of closing.

SAMPLE DEAL STAGE NAMES
Appointment scheduled 10%

Product explored 30%

Product evaluated 70%

Contract received 90%

Contract signed and returned won

Closed - Lost lost

EXAMPLE SALES REP: BOB
Sales Rep at Groundskeeper, Inc.

Sells landscaping services to small

property management companies

Recently promoted to manager

Customizing his teams deal stages to

match the way they sell
 DEAL STAGES
Meeting to define project
 DEAL STAGES
Meeting to define project

Send contract
 DEAL STAGES
Meeting to define project

Send contract

Contract signed and returned

 DEAL STAGES
Meeting to define project Needs identified

Send contract

Contract signed and returned

DEAL STAGES
 DEAL STAGES
Meeting to define project Needs identified

Send contract Contract received

Contract signed and returned

 DEAL STAGES
Meeting to define project Needs identified

Send contract Contract received

Contract signed and returned

Closed - lost
 DEAL STAGES
Appointment scheduled

Meeting to define project Needs identified

Send contract Contract received

Contract signed and returned

Closed - lost
DEAL STAGES
DEAL STAGES
DEAL STAGES
DEAL STAGES
DEAL STAGES
THANK YOU.