What is a Sales Cycle?
The Sales Cycle is the systematic and repeatable process of turning a lead into a paying customer. It ensures that salespeople know what to do next, and know where the leads stand in the process. Additionally, it also allows you to determine what worked and how you can improve the process further.
What are the Steps Involved in the Sales Cycle?
The sales cycle typically comprises the following stages: prospecting, lead qualification, appointment setting, presentation, negotiation, closing and follow up. The typical duration of these stages will vary depending on a number of factors including industry type and geography.