Deal tracking, prioritization, organization, analysis, and more are all involved in sales deals. Moreover, sales representatives work on more than one deal at a time and speak with different people with different needs in each case.

Deals are a great tool for tracking your opportunities, revenue sources, and most promising clients.

What do we mean by deals or opportunities in CRM?

Deals are pipelines within the CRM system. Deal stages are typically used to visualize a sales pipeline and estimate future revenues. When a deal is won or lost, the final deal stage is closed.

One of the ways to identify Qualified Leads for sales opportunities is to identify deals. From the Company’s Database, they determine which leads have changed from inactive to active status. Through placing these leads in different stages of the Deal Pipeline, they can provide a better estimate of the likelihood of conversion. This is known as lead scoring. The only way to qualify prospects is through lead scoring, which is one of the most effective methods.

This feature is referred to as Deal Management or Opportunity Management. 

So, what is Deal Management exactly?

The process of managing your deals includes organizing, tracking, maintaining, prioritizing, and analyzing them regardless of where they are in the pipeline. Deal management process involves organizing and simplifying different aspects of your sales deals to improve client conversion rates, boost marketing efficiency and performance. Potential customers are represented by deals. 

Creation of deals showcases the new business opportunity and to track it through the pipeline as it progresses. Sales and marketing team benefit from seamless, organized, and efficient lead closure.

How do you manage a deal with Zoho CRM?

Deal profiles only make sense when the information you gather is contextualized. The right deal pipeline stage is crucial to keeping all your deals on track. As soon as you have a clear view of where your deals are at, it will be easier for you to work on moving them forward.

Each deal must be assigned to a specific sales representative, who will be responsible for its activities. Then, your deal owner can see the deals assigned to them and track their sales tasks and sales activities.

The key to good sales management is to prioritize, track, and monitor your pipeline. Manage deals across territories and sales structures with Zoho Customer Relationship Manangement deal management software.

How can Zoho CRM be an effective tool for dealing with deals?

Zoho CRM’s Sales Force Automation (SFA) software gives businesses an advanced sales automation system that provides them with an easy way to convert leads into deals.

Deals are very important to businesses. Managing a deal effectively with the assistance of a good tool can provide multiple future revenue opportunities. As a business owner, you need to implement Zoho CRM with the help of an authorized Zoho partner to effectively manage deals:

• Use data-driven predictions to prioritize the most promising deals.
• Track the progress of leads in the sales pipeline, study past deal activities from the available data, and determine the steps to convert them into actual customers.
• Zoho Customer Relationship Management software provides a 360-degree view of every detail related to a deal such as open activities, history of the completed activities, contacts, products, sales stage history, attachments, and notes, so that you can make an informed choice.
• Maximize your sales process so that everyone involved understands what needs to be done to advance the deal.
• The Zoho CRM software streamlines the sales process and makes your team’s efforts to convert active deals to customers more effective.
• CRM will help deal management processes become more accurate and efficient, so sales rep will spend less time on administrative tasks and more time with prospects and customers.

In what ways does Zoho CRM help you manage deals?

Deal management is the process of tracking all potential sales opportunities across the entire pipeline and converting them into recurring customers. Any worthwhile deal will always provide you with multiple revenue streams. Deal management tools, such as Zoho CRM, help you score profitable deals by connecting the sales team with the right people and also offering you the right information about the prospect.

1. Get an integrated view of all your deals – Everything under single dashboard.

In every way, bringing all the information on business deals under one roof is helpful. It makes the process of making business deals more efficient. Deals may take place several times a month.

As a result, you need to know when certain deals will take place. Deals in the CRM deal management system can be viewed from the current month or from the previous month.

So for example, if a new person is appointed head of the business deals section, he/she will have all the details of past and present dealings in one place from day one.

With Zoho CRM, you can easily track deals by displaying the relevant information in a single view. By gaining an overview of how many deals are nearing closure or closed-won deal stage, you can get an idea of the steps that need to be taken to push the deals towards closure.

With Zoho CRM’s advanced filters and sorting capabilities, you can easily find deals that meet your criteria so you can take quick action.

2. Deals by status

There are two types of views in the Deals module – List views and Stage views. In the list view, all the deals are displayed in the order you have sorted them, but in the Stage view, they are grouped by Deal Stage.

When you want to view deals categorized by their stage, the Stage view is helpful. One glance at the Stage view will tell you which deals are in the Closed Won stage, how many are in the Closed Lost stage, Negotiation/Review stage, and so on. The Deal Stages view is also applicable when you customize them.

List view of deals

Deal stage view

Knowing where a deal stands depends on when and where the most valuable deals are in the pipeline.

In Zoho CRM, from one place, you can view deal status, what stage a deal is in and update it. While on the phone with a prospect, if the deal stage changes from “needs analysis” to “value proposition”, you can update it there and then.

3. Using Artificial Intelligence to predict deal outcomes and prioritize deals.

A sales pipeline will contain a variety of leads. Focusing on the right deal can be challenging. Zoho provides AI-driven tools like Zia which provide you with crucial information about deals using voice commands. The voice assistant can help you find key information and ensure you win the deal. Through Zia, every lead and deal on the table can be given a score based on predictive AI to determine if it will go through.

Zia helps you get the most out of deals-

• Zia analyzes your sales data to uncover the patterns behind your wins and losses
• Zia View helps you focus on the right leads and deals. The records are separated into three columns: likely to win, likely to lose, and likely to go either way.
•  Based on whether they are more likely to win or lose, Zia defines these records as “trending up” or “trending down.”.
• Sort deal records based on similar patterns, deal score, or activities with Advanced Filters.
• Artificial intelligence-based deal insights tell you which deals are most likely to convert so sales rep can nurture them accordingly.

4. Keep an eye on your competitors.

As you pitch your business to a prospective client, other companies are offering the same services you do. Chances are the prospects will mention the competitor’s name, which you can note down and do thorough research on their strengths and weaknesses. Using this information will help you make a better pitch than your competitors.

Prospects want to know what makes your solution different from your competition during sales follow-ups. With Zoho CRM, you can take notes on your competitor’s strengths and weaknesses, which will help you pitch your solution better and increase the likelihood of closing the deal faster.

5. Comprehensive reporting and analytics.

Data-driven decision-making is made easier with Zoho CRM’s reporting and analytics tools. For business strategy and competitive advantage, Zoho offers everything from basic charts to advanced analytics insights.

Access detailed reports on sales stages, daily revenue, deals closing this month, and more. Identify bottlenecks in the entire sales process using dashboards and look for potential growth areas.

Deal Management – An Effective Way To Grow

Sales management will help your team grow because it’s the process of organizing, tracking, analyzing, and measuring your potential, current, and past deals.

Deal management tools automate these tasks, saving you time and enhancing accuracy. They also identify which deals should be prioritized based on all the data they have collected.

Zoho CRM is one of the most powerful assets that your business can have when understood and used correctly. The CRM packs the powerful features you’ve come to expect from Zoho CRM. We hope this post opened your eyes to the capabilities of Zoho CRM.
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