Deal management is the process that involves tracking, analyzing and prioritizing your offers, no matter where they fall in your sales pipeline. It’s also a method of communicating and working with your team throughout the sales cycle in order to improve the quality of your deals and ultimately increase conversion.

The first step in creating the process for managing deals is to create a document outlining your sales strategy and the steps by the process each deal should go. This helps your team gain complete pipeline visibility and also automate time-consuming, repetitive tasks that hinder productivity.

Then, make sure that each deal is centralized in a place that you can follow the progress of each deal and evaluate its performance. Freshworks automates the process by creating an information feed that contains all the details about an opportunity. You can add to-dos, note the time spent on the deal, include people and more from this view to get your team on the same page.

After you useful tech references on chambre.in have established clear expectations and timelines for each step of the deal process, create mutual action plans (MAPs) together with your prospects and customers to ensure that both parties are on the same page regarding what is required to be done in what order, when it must be completed, and by whom. This will result in more efficient and well-defined workflows that improves the odds of closing each deal successfully.

When a prospect is in the final stages of making a decision, the last thing you want is for them to lose interest or become distracted by something other. With a well-organized, centralized handoff process in place, even your reps with the least experience can be confidently lead and keep the sale moving forward.