Knowing your business means being able to get valuable insights from the large amount of data that it holds. By keeping your CRM system up to date you can easily obtain a snapshot of sales performance through the Opportunity Statistics screen.
Accessing the Opportunity Statistics screen
To access the Opportunity Statistics screen head over to the left hand navigation bar. You will see it as a sub-menu item beneath Opportunities. If you don’t see this section then you may not have permission to view Opportunity records. Have a chat with your Administrator or read about administrator permissions here.
Overview of the Opportunity Statistics screen
The screen that is displayed is designed to be informative at a glance. This means that you should come away with a clear understanding of how successful your sales operation is from a very quick look. It’s an ideal screen to view in passing, perhaps on a daily basis.
Do be aware that there are no “right” or “wrong” values to aim for in these reports. As a rule of thumb, you should compare key metrics with your own company over time. Yes, be aware of industry norms but as every business is unique direct comparisons can be difficult.
To look deeper into the screen’s value let’s look at the 6 sections that are displayed.
At the top you will see some statistics represented in raw number format. These are similar to numbers that you may see on other Opportunities pages. Each line is self-explanatory and calculated from currently open Opportunities.
Looking at all the Opportunities that have been opened in your business, how many are currently in progress (“Open”) and how many have been won or lost? The red part shows those that have been marked as lost and the green one shows those that have been won. Note that this is on a record-count basis and does not take into account the value of each Opportunity (see below for the answer to that)
Overall Win Rate
Based on the same calculation as the Breakdown section above, but much easier on the eye is the %age win rate of all Opportunities that have been opened. You should aim for this figure to increase over time.
When raising or working with an Opportunity it’s a good idea to ensure you keep the win forecast up to date. This will filter through to ensure sales expectations are maintained. This section allows you to see the distribution of forecast percentages across your open Opportunities. In this example screenshot you can see that of 3 open Opportunities, there is one that has a less than 20% chance of success, one that has between a 41% and 60% chance of success and one has a greater than 61% chance of success.
Interpreting this section correctly will give you a good guide of the confidence of your current opportunities. Too low and you may not be fishing for sales in the right area – too high (if there is ever such a thing) and you may find sales closing soon which may put pressure on delivery.
Value of Close Opportunities
Calculations so far have mainly been based on the count of Opportunities but this section gives a more detailed view into the value of both lost and won opportunities. From this data you can spot any longer term trends in opportunity value as well as see any seasonal flow to losses or wins.
Average Days Spent per Stage
To help with reporting, RealtimeCRM keeps track of what stage each Opportunity is on along with when it was moved to that stage. This allows the system to report the average duration an Opportunity spends at each stage.
This data is particularly useful in that it gives you insights as to where you might want to improve your process to help close deals quicker.
Note: We would love to get your feedback on the data shown here so that we can make the feature work for you and your business.