Definition: The sales cycle is a series of stages that a company undergoes to identify a potential customer, engage with them, and ultimately close a sale.
This cycle typically includes several key phases such as prospecting, initial contact, needs assessment, presentation or pitch, handling objections, closing the sale, and follow-up for future sales opportunities.
The length and complexity of the sales cycle can vary greatly depending on the industry, the nature of the product or service, and the customer’s decision-making process.
Use It In a Sentence: Our team has been working hard to optimize our sales cycle, focusing on shortening the time from initial contact to closing, thereby increasing our efficiency and overall sales revenue.
More Definitions: SDRs Definition, Salary Squatting Definition, Gatekeeper Definition, Cadences Definition, Customer Segmentation Definition, Inside Sales, Live Scheduler Definition, Product-Market Fit Definition
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