Deal management is the process that involves analyzing, tracking and prioritizing your deals, regardless of where they’re in your sales pipeline. It’s also a method of communicating and working with your team throughout the sales process to improve the quality of your sales and ultimately boost conversions.

The first step is creating an effective deal management plan that is in line with your sales strategy and clearly defines the stages each deal should move through. This will help your team gain full pipeline visibility and automate time-consuming, repetitive tasks that reduce productivity.

Next, ensure that each deal is centralized in a place that you can keep track of the performance of each deal and analyse their results. Freshworks automates this task for you by generating deal feeds that include every bit of information related to the deal. You can include to-dos, indicate the amount of time you spent on the deal, mention people and more from this view to get your team on the same page.

Establish mutual action plans with your prospects and customers after establishing clear expectations for each stage of the process. This will ensure that both parties are on the exact the same page regarding what has to be done, when, and who needs to perform it. This will result in more predictable and efficient workflows that will increase the odds of closing each deal.

When a potential customer is in the final stages of conversion you don’t want to operational longevity from online storage providers lose interest or become distracted by other matters. With a central, well-organized handoff procedure in place, even your most inexperienced reps will be able to successfully lead the conversation and keep the deal moving forward.