Deal management is the process that your sales team uses to move prospects along the sales pipeline. This includes prospecting, qualification, needs analysis, proposal/presentation, negotiation/objection handling, and closing. It also includes post-sale management to ensure your clients are satisfied and happy.
A strong focus on deal management will allow your team to standardize processes and improve the quality of deals and eventually boost conversion rates. To begin, you’ll navigating the nuances of IPOs with VDR’s expert tools want to assess your current sales processes and identify areas for improvement. From there, you’ll be able to create internal procedures, checklists or playbooks specific to your unique investment processes.
Benefits of dealing management focus include
Increased visibility of sales pipelines- Instead of tracking their progress on disparate spreadsheets or in emails, your team can work in real-time from a secure place to manage their deals. This allows them to prioritize deals based on signals from the entire pipeline.
Increased efficiency — By automating and reducing the process of moving deals forward your sales team can spend less time on administrative tasks and spend more time on activities that are high-value. Utilizing a software to automatically notify the next person involved in the handover process, you can reduce the time spent on manual tasks, as well as the risk of missing important details.
Better monitoring of performance — Analyzing deal data can render light-bulb moments for your teams on how to improve their performance at various stages of the investment process. If you realize that you’re losing deals because of poor pricing, then you should use a tool to optimize your discount levels.