Deal management is the process that your sales team uses to guide prospects through the pipeline of sales. This includes prospecting, qualification, needs analysis, proposal/presentation, negotiation/objection handling, and closing. This includes post-sale marketing to ensure that your clients are satisfied.
Deal management is a great method to increase the efficiency of your team, improve operational longevity from online storage providers practices and boost conversions. It’s best to begin by taking a look at your current sales procedure and identifying areas for improvement. From there, you can develop internal protocols, checklists or playbooks tailored to your unique investment processes.
The benefits of focusing on deal management include:
Increased visibility of sales pipelines- Rather than tracking their progress on various spreadsheets or emails teams can work together in real time in one safe place to manage their deals. This allows them to decide which deals to prioritize based upon signals from the entire pipeline.
Increased efficiency by automating and reducing the administrative tasks your sales team can spend more time on high-value activities. For example, using an application that can automatically notify the person who will be next in the handover process, reduces time that is spent on manual tasks and increases the chance of omitting crucial details.
Better monitoring of performance – Analyzing the data from deals can give your teams a lightbulb on how to improve performance at different stages in the investment process. For example, if you discover that your team is losing deals because of poor pricing, then you can use a solution to assist you in optimizing discount levels.