How Should I Define Prospect, Tentative & Confirmed?
In order to accurately use Gather for pipeline evaluation, it’s very important that your team use booking statuses consistently. If not, you lose the ability to apply forecasting averages. Defining the booking statuses will largely depend on your current processes. For example, is an event considered confirmed when the deposit is paid, the contract is signed, or both?
Below are recommended guidelines which you can update to best fit your needs!
Prospect bookings will be at the top of your sales pipeline, and the more prospective opportunities you have means more closed revenue down the line! The prospect status will appear light gray.
Typically, a prospect booking is an event with an unsent proposal. Luckily, Gather will empower you to create a professional proposal in minutes to send to your guest, getting you one step closer to closing the deal!
Note: When converting a lead to a booking, the status will default to prospect! You can also change this on a case by case basis.
Good job - you have created the proposal and requested approval! Now it’s time to update the booking status to tentative. Tentative bookings are those with an unsigned proposal, and may also be awaiting a deposit payment. The tentative status will appear orange.
Do you have a lot of tentative bookings? Reach out to your guests to lock in the contract or payment!
Gather Tip: Get the most out of your company snapshot by defining prospect by unsent proposal and tentative by unsigned proposal.
Congrats - your guest has approved the proposal, and now you can update the status to Confirmed. Confirmed bookings are those with a signed contract. Do you require a deposit? Let’s make sure that has been paid as well before updating the status! The confirmed status will appear green.