Being a Sales Professional, when you are involved with multiple B2B sales deals, the only way you can taken them to closure is by regular and effective tracking. Most of the people start with tracking it within an excel workbook. But soon they realize they cannot make out anything of that data or are unable to find any relationship between multiple data sources and tables pilling up in so many excel based tracker files.
Moreover, the time taken to do data entry of all those deal histories eats up more than 3-4 hrs of your productive work hours per day.
What an ultimate way to dissipate your precious time! Isn't it?
How does a CRM help in Deal Tracking?
- You can get a view of all the active deals in various stages and view it visually to know where to act at that moment.
- Closing sales consistently requires that you build a steady pipeline of opportunities and follow up with the prospect for closure. CRM helps you visualize your pipeline in real-time so that you know where are the opportunities getting stuck and need your action.
- With you having a visual view of how your pipeline looks, you shall understand whether you need to put effort towards building your pipeline or need to spend some time on the the so many deals which are getting stuck in negotiation stage of the sales pipeline or if you need some more efforts on the multiple deals lying idle since you missed to follow up after the first contact you made.
- Better visibility on the Deal Value shall give you the insights to take call on which opportunity should be taken on higher priority than the one with lesser Deal value based on the way you operate your business. It differs from the way businesses operate, Some prefer to try the hard but big deal value opportunity, while some prefer trying to grab the low hanging fruits with low deal value first, so that the risk remains low since you iteratively get the revenues confirmed in small small deals.
- With the Estimated Deal close date, you get the visibility on which opportunity is taking more time that expected and where the deal should be expected to be at this point of time if the expected date of closure is within 1 week. Time is money, if you don't close the deal on time, some other vendor shall close the same deal and you shall lose it. Hence this shall keep your team informed on the expected timelines.
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