Deal management is the process your sales team employs to move prospects along the pipeline of sales. This includes prospecting, qualification, needs analysis, proposal/presentation, negotiation/objection handling, and closing. This includes post-sales sales marketing to ensure that your clients are happy.
A focus on deal management will allow your team to standardize practices and improve the quality of deals and eventually boost conversions. To get started you’ll need a look at your current sales processes and identify areas that could be improved. Then, you can create internal protocols, playbooks or checklists that are specific to your investment process.
Benefits of dealing management focus include
Improved visibility of sales pipelinesInstead of keeping track of the progress of your sales pipeline on various spreadsheets or via emails, your team can work together in real-time in one secure place to manage their deals. This lets them make decisions based on data from the entire pipeline.
Increased efficiency — By automating and reducing the process of moving deals forward your sales team can be less occupied with admin tasks and instead focus on more valuable activities. By utilizing a tool to immediately notify the person involved in the handover, you can cut down on the time spent on manual tasks as well as the chance of missing crucial details.
Better performance monitoring – Analyzing information from deals could give your team members a glimpse on how to improve their performance at different stages in the investment process. If you discover that you’re losing deals due to poor pricing, you could make use of a tool to improve your discount levels.