Deal Management Boosts Conversions and Increases Conversions

Deal management is the process of tracking, analyzing, and prioritizing deals no matter where they are in your sales pipeline. It also involves communicating and working with your team throughout the sales cycle in order to improve the quality of your sales and ultimately boost conversions.

The first step to create the deal management process is to create a document outlining your sales strategy, as well as the stages through the process each deal should go. This will help your team to gain an accurate pipeline view and automate tedious, time-consuming tasks that can hinder productivity.

Make sure that each deal is in a central location where you can track and review them. Freshworks automates this for you by creating an account feed that contains every detail related to the opportunity. You can include to-dos, indicate the amount of time you spent on the deal, @mention people and more using this view to get your team on the same team.

After establishing clear expectations and timelines for each step of the deal process, create mutual action plans (MAPs) with your prospective customers and customers to ensure that both parties are on the same page in terms of what is required to be done in what order, when it must be done and by whom. This helps create more efficient and predictable workflows, which in turn increases the chances of successfully closing each deal.

If a prospect is at the final stages of conversion You don’t want to lose interest or get distracted by other issues. With a well-organized, centralized handoff system in place, even your reps with the least experience will be able to be confidently lead and ensure that the deal is moving forward.

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