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Ever had a question about salesforce opportunities or the Sales Cloud but were afraid to ask?

Looking for best practice advice on using opportunities?

You’ve come to the right place. Here are 7 answers to the most common questions about salesforce opportunities.

And if we haven’t covered your burning question? No problem. Fill in the form at the end of this post and we’ll send you the answer.

1. Converting Leads to Opportunities

When should a Lead be converted to an Opportunity?

Salesforce doesn’t prescribe when a Lead should be converted to an Opportunity. The answer is to convert when it makes sense to do so in your business.

For example, let’s say you have a telemarketing team focused on generating opportunities for field sales. Some of our clients transfer the lead to the field sales person. It’s the latter that converts the lead to the opportunity after the initial meeting.

With others, the telemarketing person converts the lead and assigns the opportunity to the sales person.

Its horses for courses. Although in my experience one benefit of having the telesales person do it is that the opportunity is more likely to be linked to the originating campaign.

Read a full blog post on the difference between Leads and Opportunities including sample process diagrams that you can download.

2. Building your sales process into salesforce opportunities

How do I build my sales process into salesforce opportunities?

Firstly, match the opportunity stage values with your sales process. That’s probably not going to happen unless you change the default opportunity stage picklist values that come with salesforce.

Secondly, to improve reporting avoid milestone based opportunity stages. Each stage should relate to a period of time. For example, Customer Evaluating is better than Proposal Sent. Sending a proposal is one – but not the only – activity you would expect for an opportunity at this stage.

Here’s a sample set of opportunity stages that many of our B2B customers use:

Prospecting (or Qualifying)
Investigation (or Discovery)
Customer Evaluating
Negotiation
Closed Won
Closed Lost
No Purchase
Qualified Out

Bear in mind there may be more than one sales process in your business. The process associated with transactional products, consumables or service contract renewals may be shorter and require a different set of opportunity stages.

Read this blog post for more advice on setting opportunity stages that match your sales process.

3. Highlight doubtful deals in the sales pipeline

How can I use salesforce to highlight doubtful deals?

Just when you thought you were going to be above target this month, a bunch of opportunities slip to the next month. If that’s ever happened to you then you’re not alone.

Deals do slip. It happens all the time. Unfortunately that’s in direct contrast to the sales manager’s desire for a robust pipeline and confidence in this month’s sales forecast.

But here’s what you can do. Use two opportunity quality metrics to highlight deals that have an above average chance of slipping.

  • Number of Close Date changes. Specifically the number of times the opportunity has already slipped from one month to the next. Experience shows it’s these opportunities that have a higher-than-average probability of slipping again.
  • Days since last Stage Change. If the number of days since the last stage change is well above average then it often highlights a deal that is not being actively managed.

These metrics measure the quality of opportunities in the sales pipeline.

In both of these cases the sales manager should work with the opportunity owner to decide on the best course of action. Can the deal be revitalised? Shall we bite the bullet and close-out the opportunity? Can a more realistic close date be established?

Read this blog post about using opportunity metrics to manage your sales pipeline quality.

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4. Make it easier to add Products to Opportunities

Can we make it easier to add Products to Opportunities?

Adding Products to opportunities has many benefits.

It produces more accurate opportunity values. This makes your pipeline and sales forecast more accurate. It provides information on the pipeline at product level. And it opens the door to a raft of ways to streamline the end to end sales and fulfilment process.

There’s only one drawback.

If you have a lot of products then the user interface is not particularly helpful. In fact it’s quite hard to find the right products at times.

There are two ways to solve this. Option 1 is to use a CPQ (Configure, Price, Quote) application. Here’s a link to those applications on the AppExchange.

Option 2 is to use our Product Wizard and / or the Product Bundle Wizard.

Product selection wizard to make it easier to add products to salesforce opportunities.

Read this blog post to find out more about product selection wizards including a short video.

5. Track Opportunity Stakeholders in the buying center

What’s the best way to track Opportunity Stakeholders?

There’s nearly always more than one person involved in a B2B buying center. Gatekeepers, business users, influencers, technical evaluators, executive sponsors, budget holders and project managers. They can all be playing a role.

And they can all make or break your deal.

So how do you keep track of all them all?

Use Contact Roles to relate multiple people to an opportunity.

Many companies use modified contact role picklist values on salesforce opportunities.

These Contacts can even be from other companies – external consultants or advisors, for example.

Read this blog post for advice on using Contact Roles.

6. Calculate sales commission using salesforce

Is it possible to calculate sales commission using salesforce?

If you calculate and display commission in salesforce then you’ve got a built-in sales incentive tool.

The trouble is commission calculation is rarely straightforward. It often includes short term kickers and long term commission bandings. In other words, the commission percentage on a deal increases as total sales in the month or quarter increase.

There’s two ways to calculate and track commission in salesforce.

The custom solution works well if you don’t have an excessively complicated commission structure.

Commission tracking on salesforce opportunities.

Read this blog post to learn about the commission management solution many of our clients have implemented.

7. Measure the trend in the size of the sales pipeline

How do I measure the trend in the size of the sales pipeline?

Any sales manager needs to know whether the total sales pipeline is getting bigger or smaller.

Salesforce has two standard reports to help you measure the trend in pipeline size.

The first is the As-At report. It measures the pipeline on the first day of each month. It’s an excellent report to show the long term trend in pipeline size.

Measure the long term pipeline trend in salesforce opportunities.

The second is more short term focussed. It’s the Historical Trending report.

Dashboard chart showing short term trend in salesforce opportunities.

The report can be built to show the size of the pipeline over the last 4 weeks or other timescales. It’s a good report if you want to understand the impact of recent marketing and business development effort.

Read this blog post two pipeline trend reports.

Any other questions?

Do you have a question about salesforce opportunities? Fill in our contact us page and we’ll send you the answer!

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