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      Sales - Pipeline Deal Definitions & Best Practices

      This article will articulate each Deal Pipeline, its definitions, best practices and how to move the deal forward through the pipeline journey.

       

      Pipeline Definitions

      PROSPECT SENT PROPOSAL

      Purpose: Deal has been built and initiated, first proposal has been sent to the vendor

      Best Practices: 

        • Send email to vendor with proposal and quote (See How to Create a Sales Quote SOP)
        • Set tasks for different communication needs throughout the Deal process
        • Post clear notes regarding what has occurred and what the goal for this deal is
        • Schedule Presentation Meeting
        • Move Deal to the ADD CONTACT TO NETFORM 

      Ownership: Sales Manager

      Additional Tips: 

          • Update the Quote based on your conversations with the sponsor


       

      ADD CONTACT TO NETFORUM

      Purpose: NetForum Record to be built

      Best Practices: 

        • Create or update the NetForum Record for the vendor (See How to Enter a new Sponsor into NetForum)
        • Post a note in the Deal that you have completed this step
        • Move Deal back to PROSPECT SENT PROPOSAL

      Ownership: Advertising and Sponsorship Specialist

      Additional Tips: 

       

      PRESENTIATON SCHEDULED

      Purpose: Presentation has been scheduled and monitoring until completed

      Best Practices: 

        • Verify attendees have accepted presentation meeting
        • Solidify verbal acceptance
        • Create Contract
        • Put Note in Deal for Advertising and Sponsorship Specialist on details for the Invoice
        • Move to CREATE INVOICE 

      Ownership: Sales Manager

      Additional Tips: 

      • Update the Quote based on your conversations with the sponsor

      CREATE INVOICE

      Purpose: Invoice for sale created in NetForum

      Best Practices: 

        • Create Invoice per instructions from Sales Manager (See How to Create an Invoice in NetForum)
        • Send Invoice to vendor contact through HubSpot
        • Post clear notes in HubSpot with the completed actions
        • Move Deal to CONTRACT PENDING

      Ownership: Advertising and Sponsorship Specialist

      Additional Tips: 

       

      CONTRACT PENDING

      Purpose: Deal remains here until Contract is signed

      Best Practices: 

        • Send reminder emails regarding invoice and contract, note communication touch points
        • Move Deal to OPEN ITEMS when signed Contract is received

      Ownership: Sales Manager

      Additional Tips: 

       

      OPEN ITEMS

      Purpose: Any open items such as unpaid invoice, Marketing/Content requests or ay other item, the Deal remains here until all open items are completed.

      Best Practices: 

        • Follow up with Vendor 
        • Note file with follow up touch points 
        • Once all open items are completed, move to CLOSED WON OR CLOSED LOST 
        • Note Deal if this is CLOSED WON OR CLOSED LOST any why

      Ownership: Sales Manager

      Additional Tips: 

       

      CLOSED WON

      Purpose: Contract is signed, Invoice is Paid 

      Best Practices: 

        • Send required documentation to Marketing/Content as needed
        • Set task for continuing communication and follow up to maintain positive vendor relationship
        • Fill out 2025 MASTER Sponsorship breakdown worksheet
        • Close Deal

      Ownership: Sales Manager/Advertising and Sponsorship Specialist

      Additional Tips: 

       

      CLOSED LOST

      Purpose: Deal is not going through 

      Best Practices: 

        • Send email to vendor with options for future collaboration
        • Set Task for incremental follow up
        • Complete Marketing Email for future campaigns
        • Close Deal

      Ownership: Sales Manager

      Additional Tips: