How to Prioritize High Value Deals in India

To prioritize high value deals in India, start by identifying each deal’s potential revenue and the likelihood of closing it. Multiply the deal value by this probability to get the expected value, then rank all deals from highest to lowest expected value. Concentrate your time and resources on the deals with the highest expected value to improve sales outcomes.

Why this comes up / what goes wrong

Many small business owners in India handle multiple sales leads at once without a clear prioritization method. This often results in chasing low-value or unlikely deals, wasting valuable time and resources. Sales activities managed only through WhatsApp and spreadsheets can lead to forgotten deals, inconsistent follow-ups, and missed revenue. Prioritizing deals by their expected value helps focus efforts on the most promising opportunities, improving closure rates and cash flow.

Without a structured approach, sales teams may spend too much time on small or uncertain deals, causing delays in closing bigger deals that could bring more revenue. This also affects forecasting and resource allocation, making it hard to plan production, inventory, or cash flow.

Step-by-step

1. List all active deals: Collect every ongoing sales opportunity from all sources, including IndiaMART, JustDial, and web forms. Make sure no deal is left out.

1. Determine deal value: For each deal, note the expected revenue in INR, usually based on the quotation or estimated order size.

1. Estimate closing probability: Assign a realistic percentage chance that the deal will close. Consider the deal stage, customer interest, and past experience.

1. Calculate expected value: Multiply the deal value by the probability (expressed as a decimal) to find the expected value.

1. Rank deals by expected value: Sort deals from highest to lowest expected value.

1. Set follow-up priorities: Focus on the highest expected value deals first. Schedule calls, meetings, or messages accordingly.

1. Track deal stages and follow-up dates: Use a pipeline tool or spreadsheet to mark each deal’s stage and next action date to prevent delays.

1. Review regularly: Update deal values, probabilities, and rankings at least once a week to reflect new information.

1. Balance resources: Allocate your sales effort proportionally, ensuring high-value deals get more attention but not ignoring smaller deals that could convert.

1. Use communication tools effectively: Combine WhatsApp and SMS with your sales tracking to keep customers engaged and remind yourself of follow-ups. See WhatsApp and SMS CRM for how this can be done.

Example (fictional figures)

A small manufacturing business has these deals on 10/06/2024:

Deal	Value (₹)	Probability (%)	Expected Value (₹)
A	₹5,00,000	70	?
B	₹8,00,000	40	?
C	₹3,00,000	90	?

Calculations:

Deal A: ₹5,00,000 × 70% = ₹5,00,000 × 0.7 = ₹3,50,000

Deal B: ₹8,00,000 × 40% = ₹8,00,000 × 0.4 = ₹3,20,000

Deal C: ₹3,00,000 × 90% = ₹3,00,000 × 0.9 = ₹2,70,000

Ranking by expected value:

1. Deal A: ₹3,50,000
2. Deal B: ₹3,20,000
3. Deal C: ₹2,70,000

Focus first on Deal A, then Deal B, and finally Deal C.

Common mistakes

• Ignoring deal probability: Treating all deals as equally likely wastes effort. Always multiply deal value by probability to get expected value.

• Not updating deal information regularly: Deal values and probabilities change over time. Review and update at least weekly to keep priorities accurate.

• Failing to schedule follow-ups: Without set follow-up dates, deals can be forgotten. Use reminders or pipeline stages to track next actions.

• Overloading on low-value deals: Spending too much time on many small deals reduces focus on high-value opportunities. Balance your efforts accordingly.

• Relying solely on WhatsApp and spreadsheets: These methods can cause data loss or missed updates. Using a CRM with pipeline management helps maintain clarity and consistent follow-up. See more on WhatsApp and SMS CRM.

• Not balancing sales resources: Putting all effort on one deal risks missing others. Spread attention based on expected value but keep an eye on all active deals.

Doing this in HelloGrowthCRM

HelloGrowthCRM includes a Deals pipeline feature that tracks all open opportunities from first contact through to close. When you send a quotation, it appears as a deal at the 'quote sent' stage with a follow-up date, ensuring no deal is forgotten. You can update deal stages, probabilities, and expected values to help your team focus on high priority deals. Learn more about the AI CRM and how it supports Indian SMBs at HelloGrowthCRM for India.

Frequently asked questions

How do I estimate the probability of closing a deal? Estimate probability based on the deal stage, customer engagement, past experience with similar deals, and any verbal or written commitments. For example, a verbal agreement might be 70%, while an initial inquiry could be 20%.

Can I prioritize deals if I don’t have exact values? Yes, use your best estimates or ranges. Even approximate values combined with probabilities help rank deals better than ignoring value entirely.

How often should I update deal priorities? Update at least weekly to reflect new information, changes in customer interest, or market conditions.

Is it necessary to use a CRM for prioritizing deals? While spreadsheets can work, a CRM designed for sales helps manage deal stages, follow-up schedules, and notifications, reducing the risk of missed opportunities. Pipeline tools like those in HelloGrowthCRM improve organisation.

How can WhatsApp help in deal prioritization? WhatsApp allows quick communication with customers. When integrated with a CRM, you can track conversations, schedule follow-ups, and ensure timely responses. See WhatsApp and SMS CRM for details.

Key takeaways

• Prioritize deals by calculating expected value: deal value × closing probability.
• Update deal values and probabilities regularly to keep priorities accurate.
• Use follow-up dates and pipeline stages to avoid losing deals.
• Balance your sales effort to cover high-value and promising smaller deals.
• Avoid relying only on WhatsApp and spreadsheets; use a CRM for better tracking.

Start prioritizing your high value deals today to improve sales efficiency and revenue. Start on the Free Forever plan (200 leads, no credit card).