Your Outsourced Deal Room

A virtual deal room is a modern way to do business. No more back-and-forth emails, missing documents, or erroneous data which delays or compromises your sales deals. Virtual sales rooms accelerate deals by ensuring all relevant materials, including quotes, contracts, and signatures, are available, up-to-date, and accessible to all relevant parties.

Knowing the best strategies to operate your virtual data room can be the difference between a closed or missed sale. You can make the most out of your salesroom to reduce friction in the sales process and increase your win rate. Here are five ways to take full advantage of your outsourced deal room and stand out from the competition:

1. Get Your Team To Work Simultaneously

Allow your team access to your data room to add sections or comments to your sales proposal. Allowing access to relevant parties keeps you from having too many copies of the sales document. Having everyone on the same platform enables timely and clear information about sales documents to avoid confusion.

For instance, you can allow access to your project manager to add a timeline. A subject matter expert can include their expert views, while your account manager can calculate pricing and profit.

2. Use the Right Integrations

Best-in-class digital sales rooms have integrations like customer relationship management (CRM), contract lifecycle management (CLM), configure price quotes (CPQ), and electronic signatures. Integrations make the sales process easier.

Connecting your CRM to a sales room saves time by eliminating the need for manual tasks. CRM integration helps keep data accurate as you can pull data directly into your deal room. CPQ includes pricing rules and discounts which aid in generating error-free quotes. Integrating your deal room with contract management software allows you to independently generate and integrate legal documents.

An electronic signature helps you close deals faster without sending your client additional documents.

3. Design Proposals Faster Using Templates

Research indicates that 90% of consumers prefer to work with companies that provide a good user experience through quick responses. The faster you can turn around sales inquiries, the quicker you can make sales.

You can create and organize sales content in your data room and create ready-to-use proposal templates. These templates help you get a proposal out in minutes. Create a variety of templates if you are dealing with clients in different sectors or industries.

Deal room software also helps you obtain quick approvals from key stakeholders. You can send stakeholders smart notifications whenever your client interacts with your proposal.

4. Keep Data Accurate And Consistent

Clients can reject erroneous sales documents. Errors can also leave a negative impression on your company. Common errors include typos, inaccurate customer information, incorrect pricing, and sharing inexact files.

Using integrations in your deal room increases your information and document accuracy since you don’t have to copy and paste data. For instance, including interactive pricing can help you generate any pricing and discounts automatically to avoid manual errors. Using placeholder variables such as {ClientFirstName} and {ClientLastName} to make sure that you post data accurately every time.

5. Personalize Your Documents

Buyers differ in location, industry, company size, and product packages needed, creating lots of room for personalization. Personalization is critical to 94% of businesses, according to research. A personalized customer experience can be the difference between a hit and a miss when making a sale.

You can gather details during your first sales call to personalize your virtual sales room.

Cross-selling or upselling also provides personalization opportunities. Personalization examples include industry-specific testimonials, creating terms of service based on location, and creating spec sheets based on products.

Start Making Big Deal Room Gains

Negotiating deals can be a tedious and time-consuming process. The right virtual sales room strategies can increase your chances of closing your deals. The above five tips will help you register faster, more cost-effective, and more successful sales processes.

Create faster sales proposals using templates to improve your client experience and increase your chances of making a sale. Allow your team members to collaborate to reduce misinformation which can delay the sales process. Prioritize data accuracy by using the right formulas and integrations to avoid copy-pasting errors.

Personalize your digital sales room for each buyer. Personalization makes your deal room a collaborative environment. You can then create a deeper connection with your buyers, which helps you stay ahead of the competition.