This stage is when a customer has confrmed wanting to buy a product but has not paid a deposit.
Should the customer decide soon after that they do not want to buy the product, would it be better to send them to the next stage called 'LOST' or just 'close lost' the exisiting deal stage ?
To directly address your issue, it sounds like the case that you shared is an example of a deal (opportunity) being set as "closed lost". Your question was whether to send them to the next stage called "LOST" or just "Closed lost", and it sounds like this depends on what the "LOST" deal stage actually means. If you go into your deal settings, you will see whether the "LOST" deal stage actually has the win probability of "closed lost" - if this is the case, moving the deal to any of the two stages will not make a difference.
To directly address your issue, it sounds like the case that you shared is an example of a deal (opportunity) being set as "closed lost". Your question was whether to send them to the next stage called "LOST" or just "Closed lost", and it sounds like this depends on what the "LOST" deal stage actually means. If you go into your deal settings, you will see whether the "LOST" deal stage actually has the win probability of "closed lost" - if this is the case, moving the deal to any of the two stages will not make a difference.
Yes your answer does make sense. The reason why the 2 options were weighed is because the 'LOST' deal stage has a probability of actually converting into confirmed business still.
So I guess that works in making it a Deal stage.
Thank you @ajchapman20 but if you have any other suggestions, let me know.