Deal management is the process of keeping track of prioritizing, analyzing, and analyzing deals no matter the stage they’re in your sales pipeline. It’s also about communicating and working with your team throughout the sales cycle to improve the quality of your sales and ultimately improve conversion.
The first step is to create an efficient deal management process which is consistent with your sales strategy and clearly describes the stages that each deal has to go through. This will help your team gain real pipeline visibility and automate time-consuming repetitive tasks that impede productivity.
Then, ensure that all deals have a centralized area where you can track and analyze them. Freshworks makes the process easier by creating an information feed that contains all the details related to an opportunity. You can add tasks, mark time spent on the deal, include people, and more from this view to get your team on the same on the same page.
After establishing clear expectations and timelines for each stage of the deal process, you should create mutual action plans (MAPs) along with your prospects and customers to ensure that both parties are on the same page with regards to what needs to be accomplished and when it should be completed, and by whom. This results in more efficient and regular workflows, which improves the odds of successfully closing each deal.
When a potential customer is in the point of converting You don’t want them to lose interest or get distracted by other issues. Even your most novice staff members will be able to lead the way with the help of a well-organized, centralized handoff system.