How to Create An Opportunity In SuiteCRM 7.11.7
Creation of an Opportunity in SuiteCRM 7.11.7
This video explains the method to create the opportunity in SuiteCRM 7.11.7.
Process
Navigate to Opportunity Module
Fields Description:
Opportunity Name:
In this field, Enter the name of the qualified lead. It would make ease if an Opportunity name has been created along with the product name.
Enter the Opportunity Name
Account Name:
Enter or Select the name of the company that the lead is working with.
Select the account as follows
Opportunity Amount:
Enter the amount of the opportunity has related products. Opportunity amount is variable
Enter the Opportunity Amount
select the estimated date on which the opportunity sale is going to end.
Type:
Existing Business
New business
Existing Business:
An existing business is a business where the board of directors or owners approve the business sale to an enterprise receiving equity participation financing.and also it means an immediate cash flow where the business will have a financial history which gives you an idea of what to expect and can also secure loans. Prospect may also get the existing customers contacts.
New business:
New business is the number of policies written by an insurance company in a particular period.
Select the closed date and type of business as follows
Sales Stage:
Sales stage identifies the current stage that the opportunity is in the sales cycle. starts with creating the awareness of the product and ends with the deal closure.
There are 8 stages in sales. Each stage has its own purpose. With the help of this stage, we could track the opportunity sales process.
Prospecting:
This is the first stage in the sales process where the sales representative needs to qualify the prospect or opportunity
Qualification:
Sales representative interacts with the prospect and checks if the opportunity stills exist. If the opportunity still exists, just qualifies the prospect to the next process.
Needs Analysis:
After determining the prospect interests in the related company products, sales representative reveals the prospect business challenges
Value proposition:
Sales representative reveals the prospect about why the prospect or consumer should buy their product or use their service rather than your competitors and highly summarize their delivery service process to the prospect
Identifying Decision Makers:
Sales representative and Prospect will conversate about the available product criteria and services, If the company’s product criteria match with the prospects business challenges, then this note will be taken to the higher authority of the organization where he decides whether the opportunity has to be closed or to proceed further.
Perception Analysis:
After successful Decision process, In this process sales representative analyses the prospects product and prepares a quote for the opportunity
Price Quote:
Sales representative delivers the quote to the prospect
Negotiation:
In this process, the sales representative and the prospect discuss the proposal/price quote and negotiates.
Closed Won:
if the sales representative and prospects negotiation go hand in hand, it comes under Closed Won and now the company bills the prospect
Closed Lost:
The sales representative has lost this opportunity.
Probability:
When you select a sales stage in the opportunity record, automatically probability value gets filled in the probability field. Probability values are a useful tool as it helps to calculate and predict sales forecast for a specific time period.
Select the sale stage
Lead Source:
select the source from which the opportunity has originated.
Lead Source Type:The following are the source types from where the opportunity may have generated
Cold Call:
Cold call is a process where salespersons convince customers to buy their products may be in-person or through call.
Existing Customers:
If the opportunity has originated from the existing customer, choose the below option.
Self-generated:
if the opportunity has generated on his own without any reference, this option has to be selected.
Employee:
if the opportunity has originated through the company’s employee , this option needs to be selected.
Partner:
If the opportunity has generated through Company partner, then this option has to be selected
Public relations:
If the opportunity has originated through traditional media, unpaid communications, social media, and in-person engagements.choose the following option.
Direct mail:
If the opportunity has originated through post, catalogs, newsletters, brochures, this option needs to be selected.
Conference:
if the opportunity has originated through conference where several people discuss a particular topic and new trends .this option should be selected.
Trade Show:
if the opportunity has originated through an exhibition at which company promotes its products or services, this option needs to be selected.
Website:
if the opportunity has originated through the website, this option needs to be selected.
Word of Mouth:
If the opportunity has originated when an existing satisfied customer recommended the prospect about the service.
Email:
If the opportunity has originated through email, then this option needs to be selected.
Campaign:
if the opportunity has originated through digital marketing like blogging, television, Telesales etc.then this option needs to be selected
Other:
If none of the above options matches the source generation, just choose the option other.
Campaign:
if the opportunity has originated from the campaign, select the campaign or else just ignore it.
Select the lead source
Next Step:
Write down the next step that is going to be processed for this opportunity.
Describe the next step.
Description:
if the source type is other, you could mention the origination details in detail in the description process or else the opportunities products requirements can also be noted here in the description.
Assigned to:
After entering the above details, Just assign the opportunity record to the appropriate person or administrator.
Assign the record to the administrator and save the record as follows
With this, the method to create an opportunity in SuiteCRM 7.11.7 comes to end here.