Deal management is the process chambre.in of keeping track of the status, analyzing, and prioritizing deals regardless of where they are in your sales pipeline. It’s the process of communicating with your team and collaborating throughout the sales cycle in order to increase the quality and effectiveness of your deals.
The first step is establishing an efficient deal management process which is consistent with your sales strategy and clearly defines the stages each deal should progress through. This will help your team gain a true pipeline view and automate repetitive, time-consuming tasks that hinder productivity.
Next, make sure that all deals have a centralized area where you can track and analyze them. Freshworks makes the process easier by creating a feed of all information related to an opportunity. This view allows you to add tasks and time spent on a deal. You can also tweet about people.
After you have established clear expectations and timelines for each stage of the process, establish mutual action plans (MAPs) alongside your prospects and customers to ensure that both parties are on the same page with regards to what needs to be done and when it should be completed and by whom. This results in more efficient and efficient workflows, which in turn increases the chances of closing each deal successfully.
If a potential client is in the final stages of becoming a convert one of your clients, the last thing you want is for them to lose interest or get distracted by something else. With a centralized, structured handoff process in place, even your most inexperienced reps can be confidently lead and ensure that the deal is moving forward.
