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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: