How to Close More Deals in Sales with Deal Review Tips

deal review tips


“Success doesn’t come to you, you go to it.”– Marva collins.


Have you considered performing an effective review process to give yourself the best chance of success when closing deals? 


Working hard is essential, but being smart about it pays dividends! Before signing off on a deal, taking time to properly assess the situation is essential. Too often, busy salespeople overlook this step in their rush to close!


Would you benefit from increased convenience, improved customer service, and higher success rates? 


Well then, it’s time for you to look closely at the deal review process! By following valuable tips on deal reviews and ensuring that everything is error-free, you can get closer to closing those trophies that are now so complex. 


Also Read: Seven things that set apart top sales performers from others


Tips to Make the Deal Review More Effective to Close More Sales


– Building an account map

During deal reviews, executives and leadership experience difficulty bringing new insights to the conversation due to their unfamiliarity with the deal’s details. On the other hand, because the reps already understand the ins and outs of the deal, they find it difficult to know how to prepare and exactly which information to include during the review.


Introducing account maps into the sales process is an efficient solution that ensures all information is concisely presented during deal reviews. When used and updated regularly, it helps reps develop a deeper understanding of those accounts. This gives a better idea of what is truly important at each step of the sales cycle.


Moreover, it is best to start building the account map from the beginning of the deal. This way, you can add information as you go, and you won’t have to spend more time and make more meaningful contributions to discussions at each review.


This knowledge will undoubtedly improve their efficiency and effectiveness, which aids in ultimately closing more deals down the line.


– Create a solid template

With sales reps already having efficient ways to review the most pertinent account information, creating a solid template that covers other vital points is essential. A successful deal review should only contain a few focused, high-level points regarding each customer’s status rather than including too much extraneous information. 


Moreover, a report says that 65% of sales reps spend more time on non-selling activities. [source] Therefore, avoiding unnecessary data is essential. Reps need enough context on the goals, challenges, blockers, and drivers/pressures to determine what steps to take moving forward quickly and a strategic course of action.


Furthermore, having the rep pull data directly from their CRM system paves the way for consistent documentation and agreements between buyer and seller. To ensure comprehensive account coverage during those conversations, you must include an account map outlining key decision-makers, covering topics such as,

  • Company overview.
  •  Reasons for prospects to buy.
  •  Deal plan and size. 
  • Estimated date of closure.
  • The confidence level of the sales rep on the deal – along with any challenges or executive asks.

Every situation is unique, so you might have to look at different things to figure out what to do. However, creating such a template will allow you to know what to do and focus on taking action.


– Use cross-functional collaboration

Cross-functional collaboration in deal review is a great asset to any organization that wants to close future deals efficiently and effectively. When teams specializing in different aspects of the business come together to evaluate proposals and offers, they bring varied perspectives and insights that offer a comprehensive review that will prevent potential surprises down the line. 


Such collaboration prevents communication pitfalls, ensures shorter decision cycles, and allows organizations to create a streamlined process focused on building strong customer relationships. Taking advantage of this collective skillset will increase decision-making confidence and ultimately drive a higher close rate.


– Optimizing the CRM

To ensure that reps have clear and achievable goals for their deals and that both managers and reps stay organized, sales operations need to optimize the CRM system. Through this documentation process, reps have accountability for their decisions and actions, which streamlines progress on each deal.


Having an up-to-date and efficient CRM allows the deal review process to primarily focus on reevaluating the strategy, providing valuable coaching opportunities, and planning the necessary changes to improve the plan. 


However, research suggests that less than 18% of sales reps take time to utilize CRM due to its unmanageable nature. [source] If sales operations can optimize the CRM so it’s easier to complete this data entry quickly and accurately, success rates are bound to increase significantly.


Reviewing your deals is a crucial step in the sales process that should not be skipped. Reviewing each deal can increase your chances of closing more sales and ensuring a higher quality of work for your company. Use the tips we’ve provided to help you effectively review each deal and see how it can impact your success rate.


Related articles

Ready to get your next best customer?

Simple to set up. Easy to use.
Please enable JavaScript in your browser to complete this form.

No Credit card required

Scroll to Top

Get free company information