Deal Management Boosts Conversions and Increases Conversions
Deal management is a procedure which involves analyzing, tracking and prioritizing your deals no matter where they fall in your sales pipeline. It also involves communicating and collaborating with your team throughout the sales process to improve the quality of your deals and ultimately improve conversion.
The first step is creating an effective deal management plan which is consistent with your sales strategy and clearly defines the stages that each deal has to go through. This will help your team get a true pipeline view and automate time-consuming, repetitive tasks that can hinder productivity.
Make sure that every deal has a central area where you can track and analyze them. Freshworks simplifies the process by creating an information feed that contains all the details that is related to the opportunity. You can include to-dos, track time spent on the deal, @mention people and more using this view to bring your team on the same page.
After establishing clear expectations and timelines for each stage of the process, you should create mutual action plans (MAPs) along with your prospects and customers to ensure both parties are on the same page in terms of what needs to be accomplished and when it should be completed, and by whom. This will lead to more predictable and efficient workflows that will increase the likelihood of closing each deal.
If a potential client is in the final stages of conversion, the last thing you want is for them to lose interest or become distracted by something other. Even your least experienced agents will be able to lead by using a the help of a well-organized, centralized handoff system.