Setting up sales pipelines

If you’re new to ChartMogul CRM, review our setup guide.

You’ll need to be an Admin or Owner with a ChartMogul CRM seat to create, edit, and delete pipelines. Learn more about user roles and permissions.

Sales pipelines keep opportunities organized through each stage of a sale: from verifying your customer’s need for your product/ service through making a purchase. Sales pipelines help your team visualize and manage their opportunities and help sales leadership ensure their team follows a consistent process.

Watch a video about setting up sales pipelines. On December 15, 2023 we changed the name of Data Platform to Data & Config.

Here’s what we cover in this article:

Before you begin

Before setting up your first sales pipeline, you’ll need to:

  • Set up lead tracking — Each potential customer begins their relationship with your business as a lead. Tracking leads is a requirement for using ChartMogul CRM.
  • Define your qualification process for leads — When does a lead become worth pursuing? Only after a lead is qualified by your team, should you create an opportunity.
  • Review the default pipelines — ChartMogul provides two default pipelines: New Business and Renewals. Review these pipelines to see if they’re suitable for the needs of your business before adding a pipeline.
  • Decide on how many distinct sales pipelines you need — Each pipeline defines the process and associated stages your team will follow as they pursue each opportunity. For example, set up one pipeline for selling to new customers and another for contract renewals. If your business always uses the same steps to close a sale, one pipeline may be sufficient.
  • Define each pipeline’s stages — These are the steps your team follows as they pursue each opportunity from inception through close. For example:
    • Qualification — Verifying that the customer has a need for your product or service.
    • Assessment — Providing information about your product or service and demonstrating how it will solve the customer’s pain points.
    • Proposal — Offering a solution to the relevant decision makers, such as a contract.
  • Define a stage’s win likelihood — The probability that an opportunity will close in a given stage. This value can be based on existing figures from your business, or a best guess based on the sales team’s level of confidence and commitment.
  • Define a stage’s forecast category The opportunity’s grouping based on its likelihood of closing.

Default sales pipelines

To review the default pipelines, navigate to Data & Config > Manage > Sales Pipelines. ChartMogul provides two default pipelines: New Business and Renewals.

New Business

The New Business pipeline includes the following stages:

Stage Name Default Win Likelihood Default Forecast Category
Discovery 10% Pipeline
Evaluation 50% Best Case
Negotiation 80% Committed
Closed Won 100% Won
Closed Lost 0% Lost

Renewals

The Renewals pipeline includes the following stages:

Stage Name Default Win Likelihood Default Forecast Category
Negotiation 80% Best Case
Verbal Commit 95% Committed
Closed Won 100% Won
Closed Lost 0% Lost

 

Adding a sales pipeline

To add or update a pipeline, navigate to Data & Config > Manage > Sales Pipelines. Then:

  1. Click ADD A PIPELINE.
  2. Enter a unique name.
  3. Click SAVE.

Adding a stage

In addition to the stages you add here, ChartMogul provides two standard stages: Closed Won and Closed Lost. To add a stage:

  1. Click ADD A STAGE.
  2. Enter a unique name in the Name field, e.g., Assessment.
  3. Enter a number between 1-99 in the Win Likelihood field. An opportunity’s Win Likelihood (as a percentage) is multiplied by its Value for the Deal Stage Probability forecast.
  4. Select a Default Forecast Category to group opportunities based on the likelihood they will close:
    • Pipeline — early stage opportunities with a low likelihood of closing in the current forecast period.
    • Best Case — opportunities with a demonstrated need for your product or service that have a good chance of closing by their close date.
    • Committed — highly qualified opportunities with a high chance of closing by their close date.
  5. Click SAVE.

Deleting a sales pipeline

Deleting a sales pipeline removes all opportunities in the pipeline. This action is permanent and cannot be undone.

To delete a sales pipeline, select the pipeline you want to delete. Then, click DELETE THIS PIPELINE.

Deleting a stage

Deleting a stage removes all opportunities with the stage. This action is permanent and cannot be undone.

To delete a stage, click the X. Then, click SAVE.

Next Steps

 

 

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