insights into Merrill Corp’s Datasite
Deal management is the process that involves analyzing, tracking and prioritizing your deals regardless of where they are in your sales pipeline. It’s the process of communicating with your team members and working throughout the sales process in order to improve the quality and performance of your deals.
The first step is creating an effective deal management plan 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 time-consuming, repetitive tasks that hinder productivity.
Also, ensure that all deals are centralized in a place where you can keep track of them and analyze their performance. Freshworks automates the process of creating a feed of all information that is related to the opportunity. This view lets you add tasks and track the amount of time you spend on an offer. You can also use @mention to mention people.
Create mutual action plans with your customers and prospects following the establishment of clear expectations for every step of the process. This will ensure that both parties are on the exact the same page regarding what has to be done when, how and who has to do it. This will result in more efficient and predictable workflows, which will increase the likelihood of successfully closing each deal.
If a potential client is in the final stages of conversion one of your clients, the last thing you want is for them to lose interest or become distracted by something else. Even your less experienced sales employees will be able to lead by using a the well-organized, centralized handoff system.