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Understanding Sales Terms such as Deals, Tickets, Pipelines and Tasks

We put together some key sales definitions to help you understand and make the most of your HubSpot portal.

Sales Terms

Products: Create a product library of the goods and services you sell, then associate those products with individual deals. Using products, you can easily track what you're selling to your customers, then report on your products. 

Deal: Used to track potential revenue. Deals should be created whenever a contact takes an action that could lead to revenue. They can be associated with Contacts & Companies. 

Deal Stage: Deal stages are the steps in your pipeline that signify to your sales team that an opportunity is moving toward the point of closing. They should reflect the concrete steps in your sales process. 

Pipeline: A sales pipeline encompasses every stage of your sales process. An opportunity moves from stage to stage of your pipeline based on concrete actions, which is usually represented visually in your CRM. Because sales processes differ from company to company (and even product to product), your sales pipeline should be unique and reflect the typical buyer's journey. You can set properties to be captured at each step of the pipeline and create workflows based on stage to automate some of the actions that need to be taken. 

Recurring revenue: If you manage recurring services and products in HubSpot, you can analyse and track the projected value of a deal amount over time with the revenue analytics report. Recurring Revenue amount assumes the amount is monthly and that revenue begins being incurred on close date.

Predictive lead scoring: Using predictive machine learning algorithms, HubSpot analyses your customers and industry customer sets to determine the probability that your open contacts will close as customers within 90 days.

 

Ticket: Used to track the status of customer issues, engagements, and conversations with your company.

Task: Keep track of your to-do list with the tasks tool in HubSpot. You can complete each task from the associated record, the task dashboard, or using a task queue. Tasks can be generated via workflow, sequence or manually from the tasks feature. 

Task Queue: Create different task queues to organise your to-do lists and complete tasks in a series. Each task queue has a limit of 500 tasks and each user has a limit of 10 task queues in each account. 

Documents: With the documents tool, you can build a library of content for your entire team to use and share with your contacts.

Quotes: Use the quotes tool to create a web page that includes pricing information for products to be sent to a potential customer at the relevant stage in your sales process. 

Meeting: Share a link with customers that lets them see when you're free and book meetings with you, cutting out those tedious 'what time works best for you' emails.

Playbook: With the playbooks tool, you can provide guidance with interactive content cards displayed in contact, company, deal, and ticket records for your team members to reference and create standardised notes when speaking to prospects and customers. Playbooks consist of a script, to-do list and a form that captures information in a repetitive and scalable way. It can consist of free text questions as well as properties to automatically associate values to the corresponding object. 
Eg; Create a call playbook which includes a script and predefined questions which automatically update the contact properties when playbook is completed. 

Board View: For deals, tickets, and tasks, click Board to view your records by pipeline stage.

Table View: For deals, tickets, and tasks, click Table to view your records in a table format. 

 

Looking for more HubSpot terms? Check out our glossary to get a better understanding of your HubSpot portal.