Sales Opportunity Tracking Software
All efforts put forward to succeed in completing a sale will not be fruitful if the customers with the highest potential to close a deal are not handled appropriately. It is similar to an athlete who has potential or talent to run being neglected for a race and not given proper attention. It is of great significance to be able to recognize and manage these opportunities that may translate to actual revenue.
What are Sales Opportunities?
Customers (businesses or contacts) that show clear signs of 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 medium is required to deal with businesses having 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 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.
Monitoring competitors may also be a part of the intermediate processes, when there is a tough market for completion of a sale. Additionally, reasons for a closed sale won or lost, can also be examined by associating contacts, activities, products and such to the concerned potential. This will guide 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, sales stage history etc., giving you a perspective covering all aspects of the sale. Big deal alert option can be used to signal to everyone concerned, about a major deal completed or nearing completion. Overall it enables you to close more deals than usual and offers tools to gain insight in improving future deals.