Sales Opportunity Tracking Software
The efforts put forward to complete a sale will prove useless if the customers with the highest likelihood to close a deal are not handled appropriately. It is important that you be able to recognize and manage these opportunities that may translate to actual revenue.
What are Sales Opportunities?
Customers (businesses or contacts) that show a clear interest in closing a deal or proceeding with a complete transaction are opportunities. They request quotes, relevant product details and make offers for payment. An exclusive means of communication is required to deal with businesses that have the potential for converting prospects to actual sales. The words opportunities, deals and potentials are used synonymously in this regard.
What is Sales Opportunity Management?
Sales Opportunity Management is the process of identifying, communicating, and analyzing customers willing to avail themselves of products or services until completion of a transaction. This involves tracking of the sales cycle for a given opportunity from being a prospect to closing with sales won or lost. It is facilitated by dividing the cycle into different stages from start to end, relating a probability to each stage and raising the bar of revenue from one stage to the next.
When there is a tough market for completing a sale, monitoring competitors may also be a part of the intermediate processes. Reasons for a closed sale (won or lost) can also be examined by associating contacts, activities, and products to the concerned potential client. This information will help guide you in making improvements for future sales.
What do I Gain from Zoho CRM's Sales Opportunity Tracking Software?
Zoho CRM's sales opportunity tracking module provides an exclusive interface to store and manage information details relative to opportunities with fields like stage, probability and expected revenue. A quick assessment of opportunities is possible through reports and dashboards (sales funnel) specific to opportunity management.
Opportunities can be imported from external CRM solutions and associated with other records like contacts, competitors, products, and sales stage history, giving you a perspective covering all aspects of the sale. The Big Deal alert option can be used to signal everyone concerned about a major deal completed or nearing completion. Overall it enables you to close more deals while offering insight into improving future deals.