Deal management is the process of evaluating, analyzing, and prioritizing deals regardless of the stage they’re in your sales pipeline. It’s the process of communicating with your team and working together throughout the sales process in order to increase the quality and conversion of your deals.
The first step in creating the process for managing deals is to create a document that outlines your sales strategy and the stages in each deal must go. This helps your team gain true pipeline visibility and automate time-consuming, repetitive tasks that hinder productivity.
Then, ensure that each deal is in a central location where you can track and review them. Freshworks makes the process easier by creating a feed of all information about an opportunity. This view allows you to add to-dos and mark the time spent on a deal. You can also @mention people.
Create a mutual action plan with your clients and prospects by establishing clear expectations at each step. This will ensure that both parties are on the same page about what needs to happen when, how and how to do it. This will create more predictable and streamlined workflows that improve the chances of closing each deal.
When a prospect has reached the final stages of conversion You don’t want them to lose interest or get distracted by other activities. With a well-organized, centralized handoff procedure in place, even your most inexperienced reps can confidently take the lead and keep the sale moving forward.
