Deal Management Boosts Conversions and Increases Conversions
Deal management is the process of keeping track of and analyzing deals, regardless of the stage they’re in your sales pipeline. It also involves communicating and collaborating with your team throughout the sales cycle to improve the quality of your sales and ultimately increase conversion.
The first step is to develop an efficient deal management process that aligns with your sales strategy and clearly defines the stages that each deal has to move through. This will allow your team to gain an accurate view of the pipeline and automate repetitive, time-consuming tasks that slow productivity.
Make sure that each deal is centrally located in a location where you can track the progress of each deal and enhancing M&A scrutiny with digital repositories evaluate its performance. Freshworks automates this task for you by generating a deal feed with each piece of information pertaining to the opportunity. You can add to-dos, note the time spent on the deal, mention individuals and more from this view to bring your team on the same level.
After you have established clear expectations and timelines for each step of the deal process, establish mutual action plans (MAPs) together with your prospects and customers to ensure both parties are on the same page with regards to what needs to be done, when it needs to be done and by whom. This will result in more predictable and streamlined workflows that increase the likelihood of closing each deal.
If a prospect is in the point of converting, you don’t want them to lose attention or be distracted by other issues. Even your least experienced employees will be able to lead the way with the help of a well-organized, centralized handoff system.