Deal management is a term used to describe a process that covers all the actions your sales team takes to help prospects move through the sales pipeline. This includes prospecting, qualification, needs analysis, proposal/presentation, negotiation/objection handling, and closing. This includes post-sales sales marketing to ensure that your customers are satisfied.
Deal management is an excellent way to improve the efficiency of your team, improve procedures and improve conversions. You’ll need to start by looking at your current sales process and identifying areas for improvement. From there, you can create internal procedures, checklists or playbooks specific to your unique investment processes.
Benefits of focusing on deal management include
Improved visibility of sales pipelinesInstead of keeping track of their navigating the nuances of IPOs with VDR’s expert tools progress on different spreadsheets or emails, your team can collaborate in real-time in one secure location to manage their deals. This allows them to make decisions based on data from the entire pipeline.
Increased efficiency — Through automating and reducing the process of moving deals forward Your sales team can spend less time on administrative tasks and instead focus on more valuable activities. For instance, an application that can automatically notify the next person during the handover procedure reduces time spent on manual tasks as well as the risk of overlooking important details.
Better performance monitoring – Examining data from deals can give your team members a glimpse on how to improve their performance at various stages of the investment process. For example, if you find that your team is losing deals because of poor pricing, you could utilize a software to help you improve discount levels.