Sales pipeline
Noun
[saylz pipe·line]
A sales pipeline is a marketing model for understanding the steps and opportunities in a sales process. It is represented visually as a a vertical bar broken into the various different stages of the sales cycle. It is used to summarize through an easy to understand visual representation, all the deal opportunities available to a sales or partnerships manager. The sales pipeline is an important tool used to project revenue and determine leaks or bottlenecks in the sales process.
There are seven widely accepted steps in a sales pipeline: prospecting, lead qualification, meeting and demo, proposal, negotiations, closing the deal and retention.
Not to be confused with a sales funnel, the sales pipeline tracks data around deals, while the sales funnel focuses more specifically on leads. The two terms are often used interchangeably, though they represent distinct sets of data.
Example: A sales pipeline is a helpful tool within a sophisticated CRM that helps serve sales teams in growing revenue.
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The Ultimate Guide to Partnerships for Ecosystems in 2023
Strategic partnerships are relationships between two entities (most commonly two companies) with overlapping or complementary products or services that aim to achieve a mutually beneficial result. Strategic partnerships are also commonly referred to as an alliance or joint venture.
Verb
[uhp·sel·luhng]
Upselling is the act of persuading a customer who is already making a purchase to switch their lower tier choice for a more premium option.
Upselling is a common sales tactic in both B2C and B2B marketing. Upselling is similar to cross-selling, which is when a salesperson persuades a customer to add additional complementary products to their purchase.
In B2B SaaS, this might be a longer subscription, or a more premium package that offers additional features or add-ons. In partnerships, your ecosystem partners can upsell or cross-sell your SaaS product to their existing customers as an effective marketing technique. Upselling is particularly effective when two SaaS companies partner together to offer a more inclusive service package of their complementary products.
Example: Ecosystem partners can up the value of each customer by employing upselling and cross-selling tactics.
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