Deal Management Boosts Conversions and Increases Conversions
Deal management is the process of evaluating, analyzing, and prioritizing deals, regardless of 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 sales and, ultimately, increase conversion.
The first step in developing an effective deal management system is to prepare a document describing your sales strategy, and the stages through which each deal should be managed. This will help your team gain real pipeline visibility and also automate time-consuming, repetitive tasks that hinder productivity.
Also, make sure each deal is in a central location where you can track and analyze them. Freshworks automates the process by creating a feed of all information related to an opportunity. You can include to-dos, indicate the amount of time you spent on the deal, @mention people and more from this view to get your team on the same team.
Create a mutual action plan with your clients and prospects following the establishment of clear expectations for each step. This will ensure that both parties are on the exact the same page regarding what has to be completed when, what time and who has to take care of it. This will result in more efficient and regular workflows, which enhances the chance of closing each deal successfully.
When a prospect is in the final stages of making a decision, the last thing you want is for them to lose interest or be distracted by something else. Even your least experienced representatives will be able confidently to take the lead with a structured, centralized handoff system.
