Describe the sales process model.
• Sales process model is the total set of prospects being pursued at any given time
• Six-step sales process model includes Prospect, Qualified, Needs Analysis, Presentation, Negotiations, and Closed/Service
• Account might be simply a prospect who has potential but has not been contacted, a qualified prospect ready for a needs analysis, or in serious negotiations.
• Reports all supporting data on prospects in each stage
• Where an account is in the sales process has implications for "if and when" the salesperson will be able to close the sale
• Balanced funnel enables salespeople to know how many prospects and how much revenue is needed at each stage in the sales process to meet sales projections and quota
• Must "work" the whole funnel so that it is always in balance; work on sales opportunities in the negotiation and close stages first, then work on adding new prospects and those that are in the earlier stages of the sales process, finally work on those opportunities that are in the sales process, moving them along the funnel and ensuring there are regular, predictable sales over time.