The Deal Reviews Were Better Before You Got Married

Happy Monday, Sales Pros!

Deal Reviews are like other things in life: They’re best when done because all parties see both the personal benefits as well as the importance to the relationship. A virtuous circle then forms and they occur regularly.

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In Real Life the whole thing looks a darn sight different for many Sales Pros: Deal Reviews are a semi-regular, disjointed slog, the questions meander all over the place and are either blindingly obvious or perfectly impossible to answer without guessing.

The enjoyment factor hovers perilously close to “zero” and the practical use is strictly limited to “senior leadership require us to conduct these so we do. Kind of.”

They occur regularly only when the Q draws to a close and your manager is required to submit a forecast with increased frequency.

Here’s a framework:

Predicting Deals Like a Pro: Mastering the Art of Deal Reviews

Imagine predicting the outcome of a deal as skilfully as forecasting a powerful storm. While obviously the closing stages require minimal analysis, identifying subtle indicators for success – that's where true sales mastery lies. Just like meteorologists rely on specific data points, sales managers need a robust framework to navigate deal reviews and empower their teams. Here's how to transform your deal review process into a value-driven experience for both managers and Sales Pros

Essential Elements of Every Deal Review:

1. A Snapshot of the Account: Gain a clear understanding of the target company, including its industry, product offerings, scale, goals, and key decision-makers. Include a rough estimate of the deal size and a brief overview of their pain points. This information forms the foundation for your strategic insights.

2. Compelling Reasons to Buy: Assess how your solution aligns with the specific needs, interests, and goals of the prospect. This allows you to evaluate deal viability and identify areas for improvement. If the Sales Pro struggles to articulate the value proposition, it may require a deeper dive into their sales strategy.

3. The Deal Roadmap: Examine the Sales Pro’s plan to secure the deal, including their proposed strategy, next steps, and timeline. This reveals their critical thinking skills and allows you to provide constructive feedback on the feasibility and potential enhancements to the plan.

Transforming Deal Reviews: 5 Rules for Success

1. Shift the Analytical Focus: Abandon the expectation that Sales Pros can objectively assess their deals. Instead, leverage the data they provide to analyse the likelihood of closing and the timeframe. This transition frees them from a task unsuited to their inherently optimistic nature.

2. Ditch the Unanswerable: Refrain from asking questions that even you wouldn't be able to answer, such as the intricate details of the decision makers’ metrics or the intricate relationships within the prospect's organization. Such questions not only prove ineffective but also frustrate your direct reports.

3. Embrace Consistency: Establish a standardized set of 6-10 questions to be used consistently across all deal reviews. This eliminates the anxiety of unpredictable inquiries and empowers Sales Pros to proactively gather crucial information. Brainstorm with your team to identify key leading indicators – often subtle commonalities found in past successful deals – that signal progress toward closing. Examples might include obtaining the prospect's cell phone number in the initial call, securing an organizational chart, or identifying a customer champion before the first demo. Consistently monitoring these indicators during deal reviews allows you to identify potential roadblocks and course-correct strategies.

4. Respect the "I Don't Know": Acknowledge that unforeseen situations may prevent Sales Pros from having all the answers at every review. Instead of dwelling on unknowns, move on to the next deal, expecting the missing information to be obtained before the next review. This avoids wasting valuable time and maintains focus on the bigger picture.

5. Separate Coaching and Reviews: Rethink using deal reviews as coaching sessions. Their primary purpose is to gain clarity, not to actively coach or critique techniques. Interrupting the flow to dispense immediate coaching advice detracts from the main objective and disrupts the discussion of other opportunities. Instead, address behavioral or technique-related issues separately through dedicated one-on-one sessions or impromptu discussions outside of deal reviews. This creates a more receptive and non-threatening environment for genuine improvement.

By implementing these simple yet impactful changes, you can transform your deal review process into a collaborative and strategic tool. Not only will you gain remarkable accuracy in sales forecasting, but your salespeople will also see reviews as valuable opportunities for shared insights and growth, ultimately leading to a thriving sales team and a robust pipeline.

Yes, this is written with Sales Managers in mind, If your manager runs shoddy deal reviews as described in the opening paragraphs it is up to you as a Sales Pro to flip the situation on its head, manage up and through the process of what my mother calls Malicious Regularity implement a working deal review.