Deal management is a procedure which encompasses the entire process your sales team takes to guide prospects through the pipeline of sales. 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 keen concentration on deal management enables your team to standardize procedures to improve the quality of deals, and ultimately boost conversions. It's best to begin by taking a look at your current sales procedure and identifying areas that could be improved. You can then develop internal protocols, playbooks or checklists that are tailored to your investment process.

Benefits of focusing on deal management include

Improved visibility of the sales pipelineInstead of tracking their progress on various spreadsheets or emails, your teams can work together in real-time from a secure place to manage their deals. This allows them to decide which deals to prioritize based upon signals from the entire pipeline.

Increased efficiency Through automation and reducing the administrative tasks your sales team will be able spend more time on activities that are worth their while. For instance, utilizing software that will automatically notify the next person during the handover procedure reduces time spent on manual tasks and increases the chance of omitting crucial details.

Better performance monitoring - Examining the data from deals can give your teams a nudge on how to improve performance at different stages in the investment process. For instance, if you discover that your team is losing deals because of poor pricing, you could utilize a software to aid https://chambre.in/what-is-deal-management-and-how-to-do-it/ in optimizing discount levels.