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Sales Pipeline Stage Gates

Overview:

Our objective in this initiative is to optimize the CRM’s stage gates to improve the quantifiable parameters of our deals, the quality of our pipeline data, and our forecast accuracy. Updating the stage gates will also improve our sales process by driving accountability and highlighting where we can drive velocity in the selling process.

To build the improved stage gate requirements, we utilized the BANT methodology to drive a better understanding of Budget, Authority, Need, and Timeline in the selling process, which will help reduce friction and arm the sales team with what it needs to succeed.

* = This states that a question is required to move into the next stage.

Pipeline Stages, definitions, and fields:

Interest (1%) - Currently there are no pre-requisites to create a deal. This is an ideation and prospect tracker for reps to follow up on.

Discover (10%) - Sales responsibilities are to: Hold meetings to establish the Need, discuss the potential Budget needed for our solution, and reveal the prospects pain points.

  • Have we held an initial meeting?* (Entry gate)
  • Does the prospect understand the potential cost associated with our solution? *
  • Amount?*
  • Select the meeting types you have completed (multi-select - tech demo, pricing, technical scoping call, meeting with executives)

Confirm (35%) - Sales responsibilities are to: Understand any known risks in the buying process, criteria for the selection process, and who the decision maker is.

  • Has the decision maker been identified? *
  • Has the decision maker been added into HubSpot and the deal bible?
  • Are there any known risks or red flags in the buying process? (Contractual, budgetary, etc.) *
    • If yes than add to deal bible.
  • Does the prospect have specific criteria when selecting a company? *
    • Financial fit, Customization, Experience, Speed of Implementation, other
  • Close Date
  • Is the “Deal Bible” completed?*

Pricing and Proposal (50%) - Sales responsibilities are to: confirm the budget for the solution exists, work with SME’s to outline the scope of the project, confirm service line breakdown, send pricing and legal documentation to the prospect, and receive a verbal confirmation from the decision maker.

  • Has the available budget been confirmed? *
  • Have you confirmed and input the cost of each service line needed? *
  • Have we worked with SMEs to outline the scope of the project? *
  • Who is the SME?
  • Has the proposal and MSA been sent?*
  • Do we have a verbal approval from the decision-maker? *

VOC (75%) - Sales responsibilities are to: Get the decision maker to verbally agree to work with us, develop the contact term and the project start and end date, and ensure the budget has been approved.

  • Has the available budget been approved? *
  • Have we confirmed the contracting and legal process? If yes, add to deal bible or HubSpot *
  • Who is the contracting contact? *
  • When will they sign?
  • What is the contract term? *
  • Is there a termination clause in the contract? If so, please add details.
  • What are the expected project start/end dates? *

Commit (90%) - Sales responsibilities are to: Confirm the expected sign date for the contract, discuss the kickoff date and reach out to respective additional teams with delivery and project information.

  • How does the prospect measure success? *
    • Were we able to achieve this last year? Allows us to collect data for future improvements to the sales process and has implications for renewals
  • Have we met with Delivery, CS, leadership, to ensure project success?*
  • Has the handoff meeting been scheduled?*
  • When is the kickoff date?*

WON (100%) - Found within additional documentation.