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Poorly executed deal reviews can take up a lot of time and upfront work with little payoff. If you want your deal reviews to deliver maximum value without taking too much time away from selling activities, we have the answer.
- Overview of The Account's Business
- Key Reasons A Prospect Should by
- Deal Plan
- Stop Asking Reps to Self-Analyze
- Stop Posing Impossible Questions
- Create A Fixed List of Questions
- Move on as Soon as You Hear "I Don’T Know"
- Don’T Use Deal Review to Coach
You need to know whoyour rep is working with if you're going to provide actionable feedback and insight. Here, reps should include a brief yet meaningful overview of the business in question, including what it sells, its scale, its industry, its goals, and its key pain points. It should also offer some background on key decision-makers at the compa...
Here, the rep should be able to articulate how your product suits the company in question's specific needs, interests, and goals. This component is key to helping you determine the viability of the deal and the actions that need to be taken going forward. If a rep can't articulate why a company needs your product or service, it will be difficult to...
Here's where the rep gives their idea of what the roadmap for landing the deal in question should look like — offering you a strategy, action plan, and timeline. This lets you gauge the rep's critical thinking skills, weigh how feasible the rep's strategy looks, and provide actionable recommendations for ways it can be improved.
Salespeople are optimists by nature — and often by necessity as well. They need this quality to survive the rejection and emotional variability of the role. However, it means they’re usually not good at objectively analyzing how a deal is going. Instead of asking reps to fight their nature, do the analysis portion of a deal review on your own. They...
My second rule when it comes to deal reviews is don’t ask questions that you wouldn’t be able to answer. When a sales manager sits down with their reps, they typically asks question after question no sales rep could possibly answer: 1. What are the individual metrics of each member of the buying committee? 2. Which evaluation criteria does Procurem...
To get an accurate view of how an opportunity is going and run a deal review your rep won’t dread, stop asking ad hoc questions. Limit yourself to six to 10 questions you and your reps have agreed upon in advance. Ask these same questions for every single deal. When your salespeople know exactly what you’ll ask, they don’t feel like you’re trying t...
The next rule: As soon as a rep says they don’t have an answer, move on to the next deal. The expectation is that they’ll get the answer before the next deal review. Here’s a sample conversation to show you what I mean: Sales manager:“Why is the prospect investigating diversity training now?” Rep:“Schuman Inc. just hired a new VP of Culture, who’s ...
My final rule for deal reviews: Never treat them as coaching opportunities. You’re seeking clarity, not trying to improve your salesperson’s behaviors or techniques. If you pause in the middle of discussing a deal to say, “So-and-so, you need to get the budget for these X reasons,”you’ll lose valuable time to talk about the deal itself and the othe...
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Jul 28, 2022 · To make sure sales managers and salespeople get ahead of the sale and can more accurately predict the strength of a deal and it’s probability of closing, every one of these eight questions should be asked in every deal review.
Deal reviews are great in theory, but often fall short in practice. To make sure you’re getting the most out of your deal reviews, plan ahead and set a clear structure and agenda for each meeting, covering the right information in the most efficient way possible.
Apr 30, 2022 · The primary purpose of a deal review is to help the sales person develop sales strategies to win a deal. It focuses on a myriad of factors for sales reps to help customers reach a confident buying decision. If done right, deal reviews can be a game changer for sales execution.
Jul 12, 2018 · Anatomy of a Deal Review: Test and Improve. The first thing to understand is that a deal review is about helping the AE with their deal. It’s not a status update or a rehash of the forecast...
Jan 18, 2024 · A deal review is a structured meeting, typically between a sales representative and their manager or sales leadership, where they closely examine specific sales deals in the representative’s pipeline. The primary focus of a deal review is to assess the viability and strategy for closing these deals.
