How to track Sales Deals Effectively

Hi, Hope you are doing great. In this post, I wanted to bring out a list of most important items to track for effective Sales Deal tracking.

To meet Sales Quota, Your Sales persons should follow a well defined sales process to efficiently close deals at the fastest pace possible. But very often even with a good sales process, teams might miss hitting targets. One of the obvious reason is lack of effective tracking. Sales Management is no less than Project Management and effective Project Management is all about timely tracking.

Let's us take a look at some of key things you should track to meet your sales targets always.


1. Age of the Deal.
If you have been keeping a deal open for long time, chances may arise wherein your client would have already found another vendor to get his job done. So try to quickly close the deals by doing regular weekly review of Age of open deals and take necessary corrective actions wherever possible.

2. Ratio of Open Deals in Sales funnel or pipeline
To stay sustainable in the business, you need to keep winning deals continuously month over month. This requires that you have a steady pipeline of deals flowing through each stage of your sales funnel. If you have got 10 deals in final winning stage, but no deals in previous stages like prospecting or demo or negotiation stage, it is highly likely that this month you may hit your sales quota, but the very next month you shall run out of leads to meet monthly quota. So every week, try to review that you are maintaining a steady ratio of prospective deals in the pipeline in each of the stages of the sales funnel. 

3. Deal win probability.
If you are using a good CRM, it would definitely tell you about the chances of winning that deal by providing a deal winning probability score. Always do a weekly or more frequent review of the deals with high winning probability and try to keep your sales persons actively engaged on those deals. Working with 80-20 rule does help you in meeting your sales targets which are necessary to enable your business to meet at least its operating expenses by trying to quickly grab the low hanging fruits.

4. Maintain notes of Customer Conversation regularly.
Educate your sales persons to make it a habit to key-in the summary or important points of their discussion with client onto the CRM, so that they don't have to keep running here and there searching for information in their diary pages, emails, ppts, old chat conversation just before calling the client for follow-up. This shall free up the sales executives' mind of clutter and help him focus on doing things that matter, i.e. Closing deals. Check for some parameters like "last updated date" for the deals so that you know your team is religiously making use of your CRM investment.


There are many other metrics to track, but for a starter Sales team, if you just religiously track above metrics, you would definitely reap the benefits in shortest possible time.

I hope you liked reading this post. Do share it among your networks if you found this useful.
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