Effective sales management hinges on understanding and optimizing the structure of deals within your pipeline. Pipedrive CRM is a powerful tool that helps sales teams track and manage their deals efficiently. However, to maximize the potential of this data, deeper insights are needed. That's where SalesGang comes in. Our application pulls all the data from Pipedrive and analyzes the deal structure by age and value, providing you with actionable insights to enhance your sales performance.
The Importance of Deal Structure Analysis
Analyzing deal structure is crucial for several reasons:
- Identifying Bottlenecks: Understanding the age of deals in your pipeline helps identify stages where deals stagnate, allowing you to take corrective action.
- Improving Sales Cycle: Comparing the age of current deals to your average time-to-won and time-to-lost helps streamline your sales process.
- Focusing on High-Value Deals: Analyzing the value structure of your pipeline ensures that you are focusing on deals that align with your historical success, optimizing your efforts for better outcomes.
Deal Structure by Age
SalesGang provides a detailed analysis of the age of deals in your pipeline. By categorizing deals based on their age, you can:
- Identify Old Deals: Quickly see which deals have been in the pipeline the longest and compare this to your average time-to-won and time-to-lost metrics. This helps in recognizing deals that may need more attention or could be at risk of being lost.
- Optimize Sales Efforts: Understand how the age distribution of your current deals compares to historical trends. If many deals are surpassing the average time-to-won without progress, it might indicate a need for process adjustments or more aggressive follow-ups.
Deal Structure by Value
Value analysis is another critical aspect that SalesGang focuses on. By breaking down your open deals into nine value intervals, you can:
- Compare with Won Deals: See how the value structure of your open deals compares to the won deals over the last 12 months. This comparison helps identify whether the current pipeline is aligned with your historical successes.
- Adjust Focus: If you notice that you have won more smaller deals but your pipeline is filled with larger deals, it might indicate a need to adjust your sales strategy. Focusing on deals similar in value to your previously won deals can increase your chances of success.
Practical Use Cases
Here are a few practical scenarios where SalesGang's deal structure analysis can make a significant impact:
- Stagnant Deals: By identifying deals that have been in the pipeline longer than your average time-to-won, you can prioritize them for follow-up or decide to move them out of the pipeline if they no longer seem viable.
- Value Mismatch: If you observe a disparity between the value of open deals and historically won deals, you can reallocate resources to pursue deals that are more likely to close, based on past performance.
- Sales Process Optimization: Regularly comparing the age and value structure of your deals against historical data helps in refining your sales process, ensuring you are not wasting time on deals that are less likely to close.
Example of old deals and not enough new deals
Here you can see that the company has a lot (54%) of very old deals (2+ years). On average, they win deals in 289 days (9.5 months). Insight -> they should probably revise the old deals = answer question - are these deals still active or are we postponing any activity?
Second insight is that company created just a few new deals 2-6 months ago. The deals will be missed in the near future -> continuously create new leads in the future and try to accelerate some young deals (1-2 months old).You can click on number of deals to see all deals related to interval.
You can click on number of deals to see all deals related to interval.
Example of almost perfect strucutr by value
On the other hand, the value structure of the deals is good. The share of open and won deals looks similar. There are just less open deals in the 1-10k range (0.6% open vs. 7% won), and they have twice more share of 50-100k deals and smaller share of 200k+ of open deals vs. won deals.
We compare actual open deals with won deals in the last 12 months.
Another insight is that they have 17% of open deals with zero value -> it is time to do deal qualification.
Also here you can click on number of deals to see all deals in the category.
Conclusion
Understanding the structure of deals in your pipeline is essential for effective sales management. Pipedrive CRM provides a robust platform for tracking these deals, but the insights gained from SalesGang can take your sales strategy to the next level. By analyzing deal age and value, you can ensure your efforts are aligned with historical successes, optimize your sales cycle, and ultimately close more deals.
Stay ahead in the competitive sales landscape by leveraging the power of SalesGang's analytics – your secret weapon for maximizing Pipedrive CRM's potential.
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