Deal management is a process that encompasses all the steps your sales team uses to move prospects through the sales pipeline. This includes prospecting, qualification, needs analysis, proposal/presentation, negotiation/objection handling, and closing. Also, post-sales management to ensure that your customers are satisfied and happy.
Deal management is an excellent way to improve the efficiency of your team, standardize practices and increase conversions. To begin you’ll need a look at your current sales processes and identify areas that could be improved. From there, you can design internal protocols, checklists, or playbooks specific to your unique investment processes.
The benefits of focusing on deal management include
Enhanced sales pipeline visibility -Instead of tracking the progress of sales in different spreadsheets or emails, your teams can work together in real time in one secure place to manage their deals. This allows them to prioritize deals based on the signals from the entire pipeline.
Increased efficiency By automating and cutting down on the administrative tasks, your sales team can spend more time on high-value activities. By using a solution to automatically notify the person involved in the handover process, you can reduce the amount of time spent on manual tasks and the risk of missing important details.
Better monitoring of performance – Analyzing data from deals can give enhancing M&A scrutiny with digital repositories your team members a glimpse on how to improve their performance at different stages in the investment process. If you notice that you are losing deals because of poor pricing, you could make use of a tool to improve your discount levels.