The sales workflow is a six-stage checklist that almost every product or service goes through, starting with the prospect stage and ending with the closed stage. Each stage has specific jobs that must be completed, and the process remains relatively unchanged from company to company.
The sales workflow, which sales veterans often refer to as the sales checklist, is a six-stage checklist. Each stage has several jobs that must be completed before the stage is completed. Almost every product or service goes through the sales workflow from beginning to end. While the process may differ slightly from company to company, it remains relatively unchanged from the prospect stage to the closed stage.
The sales stage workflow starts with the prospect stage. This is when a new perspective is found in the company’s target market. Once the lead is found, meetings are scheduled to verify the prospect is real and meet with the people who will produce the product if this sales workflow gets this far.
In the qualified stage of the workflow, the business has discovered that the potential opportunity is real. This means that agendas are drawn up and the company starts to make decisions about how the product will be created. Follow-up meetings with the prospect are also scheduled.
During the discovery stage of the sales workflow, the company discovers all issues related to the new product. The company analyzes any purchase issue and everything is prioritized and priced. The project also receives funding at this stage so that it can be created later in the sales workflow. Any allies, enemies, and neutral companies that might affect the process are uncovered.
The developed stage begins after the development of a plan for the product. This part of the sales workflow is when the prospect visits with customers to ensure the customer is genuinely interested in the product. Management approves the price and the return on investment (ROI) is reviewed and approved. Resources for the product are also evaluated to see if the company has the necessary resources to manufacture the product.
The fifth stage, the proposed stage, is when final proposals take place. The prospect who initiated the sales workflow is taken care of to ensure that he or she approves contracts and that any changes to product creation, marketing, or implementation are agreed upon. The contracts are sent to the proposal legal department and the product is ready for creation.
In the last step, in the closed phase, everything is finished. The product is created and implemented, all contracts are agreed and signed, revenue is credited, and all orders are completed. Also, at this stage of the sales workflow, customer satisfaction is tracked to see if the product was a hit or miss.
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