Opportunity Management – 15%
- Given a set of requirements, determine how to support different sales process scenarios.
- Given a scenario, determine the relationships between sales stages, forecast and pipeline.
- Describe the relationships between opportunities to assets, product line items and schedules, price books, quotes, contracts, campaigns, etc.
- Given a set of requirements, determine the appropriate forecasting solution.
- Describe the impact of multi-currency on opportunities.
This section is like “Admin exam content on steroids”.
Multiple sales processes. This is where things start coming together about why we did things earlier in course.
Sales stages, pipeline, forecast.
Assets. Standard object can be related to Opportunities.
Opportunities have relationships with a lot of other objects.
We’ll talk about campaigns. Campaign influence, relationship with opportunities.
Collaborative forecasting. Replaces customisable forecasting.
Implementing multiple sales processes
Once you introduce record types it’s hard to get back. To support multiple sales processes though you need record types on opportunities.
What profiles should be able to see each record type.
New opportunity from Account associates record with that account.
Can select page layout for each record type/profile combination.
Sales stages, forecasts and pipelines
Updating sales stage updates the probability. Therefore the expected revenue is updated as well because it’s a function of the amount multiplied by the probability.
In opportunity object, you can open kanban of opportunity pipeline. You can also move the records along to new stages in this kanban.
Reports of opportunities. Can do summary report and then group by stage. Can add chart.
Records physical products or assets inside your Salesforce org.
Assets has lookup to contact, product and account. So can add Assets related list to accounts for example.
Pricebooks and opportunities
Product and price books relate to opportunities and impact the pricing and amount in opportunities.
In products tab there are pricebooks, products and assets views.
Understanding these objects is easiest in relation to opportunities (opportunity product). In opportunity they reside in an pricebook, which is what sets the price for various products.
Opportunity product line items
Add a product to Opportunity. Choose which Pricebook to use.
As deal gets more probable to close, expected revenue increases.
Create new Pricebooks in Pricebook tab. Then edit products related list to adjust the prices.
Product Scheduling and Opportunities
Enable Product Scheduling. Quantity schedules and revenue schedules.
Products tab -> Product record. Notice that Scheduling is now there. Default Schedules. Checkboxes.
Scheduling effects Expected revenue etc.
Quotes and Opportunities
Setup -> Quotes -> Quote templates. See page layout of quote. Can add fields such as from Contact, Account, Opportunity etc. These are linked to quote record?
Create PDF. Email quote.
Object manager -> Contract.
Add Contracts related list to Accounts.
Status of contract path.
What is the relationship between Orders and Contracts.
Contracts is a way of recording a transaction.
Campaigns and Opportunities
Campaign management. Includes campaign heirarchies.
Create campaign then you can add activities, attachments, opportunities, campaign members.
When you create campaign you can lookup for parent campaign.
Setting up Campaign Influence and Adding Influential Campaigns to Opportunities
Setup -> Campaign Influence -> Enable Campaign Influence. Can have influence time frame. So Campaigns can be marked as influential to an opportunity for a limited amount of time.
Add campaign influence related list to Opportunities.
Campaign ROI analysis report. Shows campaign with cost and amount of closed won opportunities.
Can only be enabled in Classic.
Forecast settings and forecast hierarchy.
Collaborative vs customisable forecasting.
Can enable forecast adjustments for managers or owners.
Forecast tab. In Sales cloud.
Multiple-Currency Impact on Opportunities
Multiple currencies must be activated.
Setup -> Manage currencies -> Advanced currency management, parenthetical currency conversion, add active currencies
Can update exchange rates manually.
Third party apps which automatically update currency exchange rates.
Currencies for different pricebooks?
If a user has a default currency different to the organisation’s default currency, the user’s default currency will display (for the user).
Before an order can be set to active, it must be associated with an active contract in Salesforce.
On opportunity pipeline report grouped by month could be useful to report on predicted sales to a parent company.