Dreamforce 2013 Salesforce Fundamentals: Strategy for Opportunity Management

Salesforce Fundamentals: Strategy for Opportunity Management Deepa Patel, Halak Consulting, LLC, President @halakconsulting Maria Belli, CASE Partners, Inc, Senior Salesforce Consultant @JustAGirlyGeek Shell Black, Shell Black, LLC, President @Shell_Black Bryan Boroughf, MondayCall, Senior Account Manager @BryanBoroughf

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Deepa Patel Halak Consulting, LLC

@halakconsulting

All about Halak Consulting, LLC

Halak Consulting LLC a Salesforce partner. We have been helping firms identify problem areas and propose solutions that meet the firm’s requirements for the last 10 years.

We work with clients to define their business goals, analyze current business infrastructure and identify nonexistent business processes.

We focus only on Salesforce.com software services

Silicon Valley User group co-leader, run Process & Strategy and Salesforce Certification Study Group on Success Community

Visit Us – www.halakconsulting.com

www.linkedin.com/in/deepapatelhalakconsulting/

http://www.halakconsulting.com/

http://www.linkedin.com/in/deepapatelhalakconsulting/

Target audience for this session: I'm not using this area of Salesforce today and want to learn more

I am using this area of Salesforce today, but want to pick up some tips or confirm "I'm doing it right”

Functional Roles: Sales & System Administrators

Opportunity Management – What is it? A process that allows us to measure revenue projections and revenue recognition

Why do you need to track Projections? • An insight as to where you are in your sales process and how

long you have been there.

• An insight as to what you can expect to close in the next four quarters and what are your chances of getting that business.

How do you track Revenue Recognition? • Score cards and reports that give you an idea how much you

have closed

Presenter

Presentation Notes

What is Opportunity Management and why do we need to have a Opportunity Management process for our business? Opportunity Management is a process that allows us to measure Revenue Recognition and Projections. What do you need track Projections? Need to see where you are in your sales process with your team Need to have a pipeline that shows you by each quarter what you can expect to close for the next four quarters How do you track Revenue Recognition? Need to build reports that shows you how much revenue you have recognized for the last four quarters and by team members.

Opportunity Management – How?

How do we do this in Salesforce?

Opportunity Stages

Probability

Forecast Categories

Close Date

Presenter

Presentation Notes

How do we do this in Salesforce? With the use of four main fields. Opportunity Stages Probability Forecast Category Closed Date


Opportunity Stages • Different stages of a customer’s buying process. This is tied to

your selling process Probability

• What is the percentage of the opportunity closing based on where you are in the sales process

How do we do this in Salesforce?

Forecast Category • Set of options that determines the certainty of realizing revenue

Closed Date • Date when the deal will be materialized


Sales Process Prospect Follow up with Prospect for further discovery

After discovery do a product demo to customer Demo

POC to show benefits Trial

Provide with a Pricing Proposal or a Quote Proposal

Negotiate final terms and conditions Negotiation

Closed/Won Sign and Close Business

Closed/Lost Lost Business Give a Reason why this opportunity is Lost


How are Stages connected with Forecasting?

Stage Probability Forecast Category Prospecting 10% Omitted Demo Completed 20% Pipeline Trial/POC 50% Pipeline Proposal/Price Quote 75% Best Case Negotiation/Review 90% Commit Closed Won 100% Closed Closed Lost 0% Omitted

Presenter

Presentation Notes

How are Stages connected with Forecasting? They are directly related to Forecasting via Forecast Category and Probability of closing. When you are viewing your pipeline, ideally you want to omit what is still in the prospecting stage and closed lost. You want to show the rest of the stages. Now the percentages for the probability of closing and what forecast category will different stages be assigned to will depend once again on your sales process and agreement from management.

Opportunity Management – Revenue Projection (Pipeline)

Quota Closed Commit Best Case Pipeline

Quarter 4 - 2013 $250,000 $135,000 $10,000 $20,000 $150,000

Quarter 1 - 2014 $250,000 $0 $5,000 $60,000 $220,000

Quarter 2 - 2014 $250,000 $0 $0 $50,000 $230,000

Quarter 3 - 2014 $250,000 $0 $0 $0 $130,000

Total: 4 Quarters $1,000,000 $135,000 $15,000 $130,000 $730,000

James Dean Forecast

Presenter

Presentation Notes

The Pipeline shows the number of opportunities you can expect to close based on the stage and Forecast Category. You get a good understanding of what opportunities might need some hand holding by management or which reps need extra coaching. The biggest benefit of having both opportunities and forecast in one system is that you do not have to spend time on consolidating multiple excel spread sheets to get one view for the entire sales team. You can also drill down into the opportunities to look at the details of activities.

Opportunity Management

Why is this easy to adopt and use?

Amount

Opportunity Stage

Close Date

Presenter

Presentation Notes

Simple, All you need to do is maintain three fields. Amount Opportunity Stage Closed Date

Bryan Boroughf MondayCall @BryanBoroughf

All about MondayCall Solutions

At MondayCall, we help Salesforce customers, from SMB to mid-market to Fortune 500, make the most value from their investment .

Based in San Francisco and founded in 2009

Over 300 customers in a variety of industries across the country

Full range of services entirely focused on the Salesforce platform

Average: 9.5/10 customer sat rating

Presenter

Presentation Notes

Here’s a representative example of a typical Opportunity. Note that all the key fields are populated – if you were with us for our Lead and Campaign Management session, we talked about the value of Lead Source and Primary Campaign Source. As we’ve talked about today, some of the key data points for effective pipeline management are all shown in the right column: Amount, Close Date, Stage, Forecast Category and Probability. We also see use of Quotes and Products, although that’s a topic not covered today.

Presenter

Presentation Notes

So switching hats, I’m Mr. Manager and I want to understand the forecast for my team for this quarter. From the Forecasts tab, we can see a very dynamic view of all the Opportunities for the selected period nicely summarized by Forecast category. This module is referred to as “Collaborative Forecasting” – not to be confused with a couple of other options you might have for Forecasting if you’ve been a customer for a while. By the way, to add or edit quotas with Collaborative Forecasting, you need to use the Data Loader or similar tool. There’s also a free app available from the AppExchange by Force.com Labs called “Edit Quotas”. https://appexchange.salesforce.com/listingDetail?listingId=a0N3000000B41EqEAJ

Presenter

Presentation Notes

And as Mr. Manager, I’m review my sales rep’s individual pipeline each week. I want to coach them when they need it – making sure opps are moving through the pipeline at a good pace. And in some cases, I believe the rep is being conservative – so I’m going to make an adjustment to show what I know he is capable of doing and track that change. And after I make an adjustment, I’ll see a little blue dot just to the right of the adjusted amount. As I hover over it, I will see what has changed.

Presenter

Presentation Notes

OK, as Mr. Manager, I want to understand how long it takes for Opportunities to move through each stage – so I monitor the standard report “Opportunity Stage Duration Report.” With this report I can quantify how many days any given Opp spends in a particular stage. With this data, I can make informed decisions on what is working and what needs to be improved.

Presenter

Presentation Notes

How do we recognize revenues with Opportunities? With dashboards. Here are two dashboards that shows total sales by reps for all our product lines and who are our top performing reps.

Presenter

Presentation Notes

And here are two dashboards that show us who our top ten clients are And how much new business we have vs. business from existing clients.

Shell Black President, ShellBlack.com, LLC @Shell_Black

All about ShellBlack.com

ShellBlack.com, LLC is a Cloud Alliance Partner in Dallas TX helping companies maximize their CRM investment through elegant solutions leveraging Salesforce.com

Strictly Salesforce – our single focus results in deep domain expertise

Proven Process – fine tuned over a hundreds of projects

Community contribution – two Salesforce User Group leaders and a Salesforce MVP

Visit us online at www.ShellBlack.com

Approval Processes • An Approval Process allows a record (in this case an

Opportunity) to be routed based on rules to one or more users

• Approvals are logged for accountability (e.g. my discount was approved by my boss!)

• Records can be approved by email or on a mobile phone

Milestones Milestones custom fields (combined with Validation Rules) on an Opportunity help ensure sales reps are capturing the right information and not skipping steps in your sales process

Maria Belli CASE Partners, Inc. @JustAGirlyGeek

All about CASE Partners, Inc.

CASE Partners, Inc. is a Salesforce partner celebrating 20 years as an IT consulting firm that specializes in maximizing the capabilities of Salesforce through innovative configuration, workflow, and integration solutions

Highly skilled staff of certified Salesforce administrators and developers

Specializing in advanced web and application integration services

Broad industry experience: Financial Services, Insurance, Manufacturing, Healthcare, Non-Profit, and more

Organizers and leaders of the Connecticut Salesforce Developers’ User Group

Visit us online at www.casepartners.com

http://www.casepartners.com/

Deepa Patel

President @halakconsulting

Shell Black

President @Shell Black

Maria Belli Bryan Boroughf

Senior Salesforce Consultant @JustAGirlyGeek

Senior Account Manager @BryanBoroughf

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Dreamforce 2013 Salesforce Fundamentals: Strategy for Opportunity Management

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Transcript of Dreamforce 2013 Salesforce Fundamentals: Strategy for Opportunity Management