Deal management is a term used to describe a process that encompasses all the activities stay organized with intuitive board portal platforms your sales team uses to move prospects through your sales pipeline. This includes prospecting, qualification, needs analysis, proposal/presentation, negotiation/objection handling, and closing. This includes post-sales marketing to ensure that your clients are happy.
A strong focus on deal management allows your team to standardize processes, improve the quality of deals and ultimately improve conversion rates. It’s best to begin by looking at your current sales process and identifying areas to improve. From there, you’ll be able to create internal protocols, checklists, or playbooks specifically tailored to your specific investment processes.
The benefits of focusing on deal management include:
Improved visibility of sales pipelinesInstead of keeping track of their progress in a variety of spreadsheets or in emails, your team will be able to work in real-time, in a secure place to manage their deals. This helps them identify the best deals in light of the important signals across the pipeline.
Increased efficiency By automating and cutting down on the administrative tasks your sales team will be able to devote more time on high-value activities. Utilizing a software to automatically notify the person involved in the handover process, you can reduce the amount of time spent on manual tasks, as well as the chance of missing crucial details.
Better monitoring of performance — the analysis of deal data can create an opportunity for your teams to think on how to improve their performance at various stages of the investment process. If you notice that you are losing deals due to poor pricing, then you should employ a tool to optimize your discount levels.