Opportunities
Opportunities
Article Summary
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In Close, Opportunities add value to a Lead and help your team identify and keep track of what deals are on the verge of closing. Any Opportunity that is added to a Lead becomes visible in the "Opportunity Pipeline View" and "Opportunities Overview" tabs, giving your team a high-level view.
Close Customers Say It Best: Opportunities
"Opportunities are quick & easy to create."
-Billy McKay, Account Manager, Voxburner
Create a New Opportunity
You can create a new Opportunity directly from the Lead page. Go to Leads page > click on any lead > click on the + button next to Opportunities section on the left.
Opportunities add value to a Lead and can be assigned to specific Contacts on your Leads. You can add Custom Fields to each Opportunity as well.
Opportunity Lead Limits
In Close, there is a 1000 Opportunity limit per Lead.
Opportunity Fields Meanings:
- Status: Defaults are 'Demo Completed', 'Contract Sent', 'Proposal Sent', 'Won', and 'Lost'. You can add custom Opportunity Statuses in your Organization Settings.
- Confidence: The confidence level of which the user expects the deal to happen. The confidence level is a variable that calculates "Expected Value" revenue on the Opportunities screen. Expected Value is calculated by multiplying Value X Confidence (ex: $1,000 value X 75% confidence = $750 value).
- Value: Choose from one-time or a monthly value for recurring revenue.
- Estimated Close: Estimated close date, the chosen date will be displayed in the Opportunities List tab, or when filtering by Expected field within Pipeline View. If your opportunity has been Won, this field will represent the Won/Closed date.
- Contact: The contact on your lead associated with this opportunity.
- User: The user who is creating the opportunity, and/or is responsible for it.
- Comments: Any additional context about the opportunity, comments will be displayed on the Opportunities tab.
- Custom Fields: Opportunity-specific Custom Fields. You can create these under Settings > Custom Fields > Opportunities.
Primary Opportunity
In Close, on the Lead page, the most recently created opp. will always be created on top.
After you reload the page, the system will detect what your primary opp. is and move it to the top.
The system defines the primary opp. as the opp. as follows:
- type "active" first, sorted by date in ascending order;
- other types last, sorted by date in descending order, where the date is (date_won or date_lost or date_created).
Edit or Delete an Opportunity - Within the Lead View
You can edit an Opportunity by clicking the pencil icon next to the Opportunity. Update the information and click ‘save,’ or delete the Opportunity by clicking the trash can icon.
Editing an Opportunity
Edit or Delete an Opportunity - Within the Pipeline View
In addition to Close's Pipeline View drag and drop feature for Opportunities, you can also edit or delete an existing Opportunity in-line.
Edit an Opportunity by clicking the pencil icon next to the Opportunity, update the information and click ‘save." Alternatively, you can delete the Opportunity by clicking the trash can icon.
Total vs. Expected Value
- Total Value is the amount the sales rep has listed in the Opportunity on the Lead page
- Expected Value is the deal value multiplied by the probability of the deal closing (Confidence Level), also known as a weighted pipeline value.
The Expected Value is helpful for forecasting revenue, as it’s designed to give you a high-level overview of your sales opportunities. It considers how far along the pipeline each prospect is and how likely they are to make a purchase. This helps forecast revenue and is particularly effective for sales teams with lots of Opportunities in the works and clearly defined pipeline steps.
Pro tip: Pipelines
If there are multiple products you are pitching to the same lead, you can use a separate pipeline to specify a particular product the lead is interested in.
