Opportunities

Opportunities are one of the most important, if not the most important, section of the CRM. Of course, without the Lead itself, you can’t make a deal, but Opportunities give you the ability to create and track deals, all the way from “First Contact” (or your business’ equivalent) to “Won”, or a closed deal. Opportunities are visible on the Sales Pipeline, which shows all Opportunities, as well as the specific Lead page. 

Create a New Opportunity

Opportunities are created directly from the Lead page. Choose CRM in the menu, then select Leads. Once on the Lead page, click the Lead name you would like to view. 

Next, select the + button beside Opportunities on the left side of the page. Here, you have various input options for the Opportunity and also have the ability to add custom fields. To find the meanings of the various input options, please read below. 

Opportunity Fields:

Status: The defaults are First Contact, Demo Scheduled, Demo Completed, Proposal Sent, Contract Sent, Won and Lost. See Opportunity Pipelines and Statuses Help Page for more information about how to customize Opportunity Statuses. 

Confidence: The Confidence section helps calculate what the User expects of the deal and is calculated by taking the inputted Value and multiplying it by the Confidence Level. To give an example, if your value is set at $2,000 and your confidence is set to 50%, then your “Expected Value” will be $1,000. This value can be found on the Sales Pipeline page by clicking “Expected Value” under the “Actual Value” drop-down or by selecting “All Expected Values” on the “Options” drop-down. 

Value: Insert your value ($ amount), then choose either One-Time, Monthly or Annual to show frequency of the revenue. This is known as the “Actual Value” through the system.  

Estimated Close: The expected close date tells you when you expect the deal to be made. The date will show on the Sales Pipeline when filtered by an Expected Field. When your opportunity is Won, this date will also be the Won or “Close” date.   

Contact: The Contact is the individual associated with the specified Opportunity. For a Contact to appear here, it must have been inputted previously. 

User: This is the User on your team that is responsible for (and creating) the Opportunity. 

Notes: This section can represent anything that may be helpful for this Opportunity. For example, it may explain additional context.  

Opportunities - How to Edit or Delete on the Leads Page

Opportunities may be edited or deleted from the Lead page. 

To edit a previously created Opportunity, select the pencil icon 

You can edit an Opportunity by clicking the pencil icon next to the Opportunity. The Opportunity will then open, and you can update any of the fields available or add a Custom Field. When you’re finished, click “Save”. To delete the opportunity, click the “…” beside the Opportunity, then click the trash icon. 

 

How to Edit or Delete an Opportunity on the Sales Pipeline

Opportunities may also be edited or deleted from the Sales Pipeline page. 

First, you can drag and drop Opportunities through each stage of the Sales Pipeline Statuses. In addition, you can edit or delete the Opportunity by clicking either the pencil icon or the trash icon. When you’re finished, remember to click “Save”.

Expected Value and Actual Value

We briefly covered “Expected Value”, or weighted pipeline value (as it’s known in business), which is helpful to the User in anticipating and forecasting the revenue that is expected from each Opportunity. Again, it’s calculated by multiplying the dollar amount (value) by the Confidence level, which is provided as a percentage. 

The Actual Value represents the number that was placed by the User on the Opportunity within the Lead page.