Stages and probabilities are two key notions of sales pipelines. In this video, learn to define both of those notions and explain how they're used on a day to day basis.
- [Instructor] Before we go further,…we need to pause for a second…to ensure we're fully aligned on one of the key concepts…of the sales pipeline in Salesforce…and that's stages and probabilities.…Let's start by defining those two terms…that go hand in hand.…An opportunity goes through a certain number…of steps from the moment it is identified…to the moment it is won or lost…and stages and probabilities…are the elements in Salesforce…that measure that advancement.…
The stage could be needs analysis,…proposal sent, won, lost…or any other step in the life of the opportunity.…The probability is the translation…of each stage into a percentage likelihood…of winning the deal.…For example, if the deal has been won,…the probability of winning the deal…would be equal to 100%.…That makes sense.…Another example is if the opportunity has been lost,…then the probability would be equal to zero percent…since there's no chance left…of winning the deal.…
And for every stage set up in Salesforce…whether it's a standard Salesforce stage…
- How the pipeline materializes in Salesforce
- Examining a high-level overview of the sales cycle
- Examining qualitative and quantitative measures
- Acquiring and preparing your data
- Creating your report in Salesforce
- Working with qualitative and quantitative reports
- Conducting effective pipeline reviews
- Collaborating with the sales team
Skill Level Intermediate
1. The Sales Cycle and Salesforce Pipeline
2. Acquiring and Preparing Your Data
3. Qualitative Reports
4. Quantitative Reports
5. Conducting Effective Pipeline Reviews
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