Deal Management Boosts Conversions and Increases Conversions

unlocking the full potential of VDRs in strategic collaborations

Deal management is the process of evaluating the status, analyzing, and prioritizing deals, regardless of the stage they’re in your sales pipeline. It’s the process of communicating with your team and working together throughout the sales cycle in order to increase the quality and efficiency of your deals.

The first step is to develop an effective deal management plan which is consistent with your sales strategy and clearly describes the stages each deal needs to move through. This helps your team gain complete pipeline visibility and automate time-consuming, repetitive tasks that reduce productivity.

Make sure that all deals have a centralized place to track and analyze them. Freshworks automates the process by creating a feed of all information that is related to the opportunity. You can add to-dos, indicate the amount of time you spent on the deal, add @mention people, and more from this view to get your team on the same level.

Set up mutual action plans with your prospects and customers by establishing clear expectations at each step of the process. This will ensure that both parties are on the the same page regarding what has to be done, when and who has to perform it. This creates more streamlined and regular workflows, which improves the odds of closing each deal successfully.

If a prospect is at the final stages of conversion, you don’t want them to lose interest or get distracted by other activities. With a well-organized, centralized handoff procedure in place, even your less experienced reps can be confidently lead and keep the sale moving forward.