Building and managing your sales pipeline is made easy through Opportunities.
Before we get started with creating Opportunites, let's discuss what exactly a Probability is.
Probability is a guesstimate of how likely the chances are of signing the opportunity. This is used for financial forecasting purposes and also for selecting customers to target that are close to being signed.
The probability can be updated at any time and is independent of the opportunity status.
Follow the steps below to create a new opportunity:
- Either click on opportunities from the Quick Add menu at the bottom of the screen
- Fill in all the relevant information (See description of information below)
- Opportunity name: The name of your opportunity.
- Contact: The primary external contact person on the opportunity.
- Company: Associate the opportunity with a company.
- Amount: A monthly or once-off estimated revenue of the opportunity.
- Status: The current status of the opportunity. E.g. Lead, Proposal, Hot. See a tutorial on customising your status lanes.
- Percentage: The percentage chance of closing this opportunity.
- Private: Setting to Private will make the opportunity only visible to the users with assigned tasks in the opportunity.
- Signed: Set to signed when opportunity has been confirmed. The opportunity will then change to a job.
- External reference: Insert a reference that can be used to automatically associate emails to this opportunity by adding (m#reference) to the email subject.
- Billable By Default: Choose if the tasks in this opportunity are Billable or Non-billable by default.
- Default Billing Rate: Choose the relevant Billing Rate or Item type you want to select by default for all user types on this opportunity. E.g. Creative Concept, Creative Direction, Design, Digital Architecture
- Expected Closing Date: The target closing date for the opportunity. This is used for forecasts in the reports.
- Duration(Months): What is the expected duration (term) of the job once it is signed? The duration is used to calculate the end date of the job.
- Owner: The user you are assigning this opportunity.
- Won by: This is a feature for the Sales team to show who closed the deal.
- Notify: Send email notification to the owner about the new opportunity or of any changes being made.
- Watcher: Add Watchers who will receive email notifications when important changes happen on the opportunity.
- Tag: Insert comma separated tags for easy searching and reporting. E.g. Conference, Marketing, London
A sub-opportunity is a means of creating smaller projects in one overarching one for particularly complex opportunities/projects. For example, if you are managing a massive event "Rebranding Company", you might want several smaller projects for reporting/management purposes: "Website redesign", "Stationary rebranding" etc.
Follow these steps to create a Sub-Opportunity:
- Click on Opportunities
- Click on the name of the opportunity you wish to select.
- This should take you to the dashboard for that opportunity.
- Click on "Add" and scroll down to "Sub-Opportunity" and click it
- Fill in all the relevant information for the sub-opportunity.
Next, learn how to do the following:
- How to use Task Status Lanes
- Add comments and follow-ups to Opportunities
- Sign a deal in Magnetic
- Time-saving hacks
- Save popular searches