Deal management is the process of tracking the status, analyzing, and prioritizing deals no matter where they are in your sales pipeline. It’s also the process of working with your team throughout the sales process to improve the quality of your deals and ultimately increase conversion.
The first step is to develop a well-documented deal management process which is consistent with your sales strategy and clearly describes the stages each deal should be able to progress through. This helps your team gain true pipeline visibility and automate time-consuming, repetitive tasks that hinder productivity.
Then, make sure that all deals are placed in a central location so that you can monitor their progress and evaluate their performance. Freshworks automates the process by creating a feed of all information related to an opportunity. You can add tasks, mark time spent on the deal, include individuals and more from https://chambre.in/merrill-corp-datasite-things-to-know/ this view to bring your team on the same level.
After you have established clear expectations and timelines for each step of the deal process, set up mutual action plans (MAPs) along with your prospects and customers to ensure both parties are on the same page about what must be done and when it has to be completed, and by whom. This creates more streamlined and regular workflows, which will increase the likelihood of closing each deal successfully.
If a prospect is in the final stages of making a decision what you do not want is for them to lose interest or be distracted by something other. With a centralized, organized handoff system in place even your less experienced reps can successfully lead the conversation and keep the deal moving forward.