How to Prioritise High Value Deals in New Zealand

To prioritise high value deals in New Zealand, start by assessing each deal’s potential revenue and the probability it will close. Rank your deals by expected value, which is the deal amount multiplied by its probability of closing, and also consider deadlines or follow-up dates to focus on urgent opportunities. This guide covers why prioritising deals is essential, how to do it step-by-step, a practical example with NZD figures, common mistakes to avoid, and a brief on using HelloGrowthCRM for pipeline management.

Why this comes up / what goes wrong

Small business owners and sales teams in New Zealand often face challenges when they have multiple leads and deals at different stages. Without a clear prioritisation method, it’s easy to spend time chasing low-value or unlikely deals while missing urgent, high-value opportunities. This can lead to lost revenue and inefficient use of limited sales resources. Common problems include forgetting to follow up on promising quotes, focusing on deals that are not ready to close, and lacking a system to rank deals by value and urgency.

Step-by-step

1. List all current deals: Gather all open deals from your sales records, emails, or spreadsheets.

1. Estimate deal value: For each deal, note the potential revenue in NZD. Use the total contract or sale amount expected.

1. Assign a probability of closing: Estimate the likelihood of closing each deal as a percentage (e.g., 30%, 60%, 90%) based on your knowledge of the client and sales stage.

1. Calculate expected value: Multiply the deal value by the probability to get the expected value.

1. Check urgency and deadlines: Identify any deals with approaching deadlines or scheduled follow-up dates.

1. Rank deals by expected value and urgency: Order your deals so those with the highest expected value and nearest deadlines come first.

1. Plan follow-ups accordingly: Prioritise contacting and advancing high-ranked deals before others.

1. Review and update regularly: At least weekly, update your list with new deals, changed probabilities, or updated deadlines.

1. Use a system to track deals: Consider using a CRM to keep deals organised and remind you of follow-ups.

Example (fictional figures)

A Christchurch building company has three open deals:

Deal	Value (NZ$)	Probability (%)	Follow-up Date
A	150,000	70	12/06/2024
B	300,000	40	05/06/2024
C	100,000	90	15/06/2024

Calculate expected value:

Deal A: NZ$150,000 × 70% = NZ$105,000

Deal B: NZ$300,000 × 40% = NZ$120,000

Deal C: NZ$100,000 × 90% = NZ$90,000

Rank by expected value:

1. Deal B (NZ$120,000), follow-up 05/06/2024

1. Deal A (NZ$105,000), follow-up 12/06/2024

1. Deal C (NZ$90,000), follow-up 15/06/2024

Since Deal B has the highest expected value and the earliest follow-up date, it should be prioritised first.

Common mistakes

• Ignoring probability: Treating all deals as equal without considering the chance of closing. Prevent by always calculating expected value.

• Not updating deal status: Using outdated probabilities or values. Prevent by reviewing deals weekly.

• Forgetting follow-up dates: Missing deadlines leads to lost opportunities. Prevent by setting reminders or using a CRM.

• Focusing only on deal size: Large deals with low probability may waste time. Prevent by balancing value with probability.

• Using scattered tools: Managing deals across email, text, and spreadsheets causes confusion. Prevent by centralising deal tracking.

• Not reviewing pipeline stages: Overlooking where deals are in the sales process. Prevent by monitoring stages regularly.

Doing this in HelloGrowthCRM

HelloGrowthCRM offers a Deals (pipeline) feature that tracks open opportunities from first contact through to close. Each deal shows its stage, probability, and expected value. For example, a quotation sent last week appears as a deal at the 'quote sent' stage with a follow-up date, ensuring it is not forgotten. This helps teams prioritise high value deals by keeping all information in one place and reminding users when to follow up. Learn more about the AI CRM capabilities at HelloGrowthCRM AI CRM.

Frequently asked questions

How do I estimate the probability of closing a deal? Estimate based on your experience with the customer, how far along the sales process the deal is, and any signals like client interest or budget approval. Probabilities often increase as you move closer to closing.

Should I prioritise deal size or urgency? Both matter. Prioritise deals with high expected value (deal size × probability) and those with urgent deadlines or follow-ups. Balancing these helps maximise revenue without missing time-sensitive opportunities.

Can I use HelloGrowthCRM to manage deals via WhatsApp and SMS? Yes, HelloGrowthCRM integrates WhatsApp and SMS into the CRM, allowing you to communicate with leads and customers directly from the platform. This helps keep all sales activities in one place. See WhatsApp and SMS CRM.

How often should I update my deal priorities? At least weekly. Regular updates ensure your priority list reflects the latest information, probabilities, and deadlines.

What if I have too many deals to manage manually? Using a CRM like HelloGrowthCRM centralises deals and automates reminders, making it easier to manage a larger pipeline efficiently. For New Zealand businesses, this can improve follow-up and reduce lost leads. See HelloGrowthCRM for New Zealand.

Key takeaways

• Calculate expected value by multiplying deal value by probability to close.
• Include urgency and follow-up dates when ranking deals.
• Update deal information regularly to keep priorities accurate.
• Avoid focusing only on deal size or ignoring deadlines.
• Use a CRM to centralise deal tracking and reminders.
• HelloGrowthCRM’s Deals pipeline helps manage and prioritise deals effectively.

Start prioritising your high value deals today to improve sales efficiency and revenue. To organise your sales pipeline and never miss a follow-up, Start on the Free Forever plan (200 leads, no credit card).