Sales cycle refers to the sequence of steps it usually takes to close a new deal, as part of a team’s sales process.
The sales cycle covers any activity within a sales process, from initial prospecting to closing the deal.
A clear sales cycle serves as a guide for the team, ensuring that they go through the essential steps and are never left wondering what comes next. It also helps to evaluate performance and diagnose potential issues, by pinpointing at which stage of the process leads are more likely to drop out.
- Buying cycle is the process that every new customer goes through when purchasing a product or service. It is also another word for the buyer's journey.