How are products and price books used in Salesforce? What are the benefits to using products and price books in Salesforce and what types of companies use this functionality? This video explains Salesforce products and price books and why they may be a go
- [Instructor] Products and price books are advanced features in Sales Force that are often used by administrators. But since we realize that often the sales manager is the administrator in smaller companies, I wanted to explain the basics of setting up products and price books. The benefits of using products and price books in Sales Force are that you get more in-depth data on which products or services you are selling the most, who is selling them, and what the highest-selling products are. Once you have created products and price books, you can create customer ports and forecasts including these details.
A product is any item or service that your organization sells. Products are defined in a price book and can be added to opportunities. You can view products in the opportunities tab. A price book is a list of products that your organization sells. You can have different price books for retail items, electronic items, or any other categories. So now, let's take a look at where to find products and price books. I'm here on the home page and I don't see price books listed although I do see products.
I'm going to click on this plus sign to add that now. I'm going to go down to customize my tabs and click that button. And I'm going to scroll down and find price books. Here we go. I'm going to add that and hit save. Now you'll see that price books shows up in my main navigation bar. Now as I mentioned, products and price books live in the opportunities. So let's look at a current opportunity. Let's look at California Water. And if I scroll down here, you'll see there are products and I'm able to choose a price book.
So the first thing we need to do is choose a price book because all of the products are nested under price books. Let's take a look at that. So right now, retail price book is selected and there's a standard price book. So let's select standard because I know that California Water is not interested in retail products. I'm going to hit save. And if for some reason I selected the wrong price book, I can always go back and change that again. I'm going to click the choose price book button and I'm going to go back to retail price book.
Now, when I do this, Sales Force is going to give me a warning. Only one price book can be associated with each opportunity. So Sales Force is letting me know that if I change the price book, any products that I have selected for this specific opportunity will be deleted from this opportunity although they won't be deleted as a whole. I'm going to scroll down here to products, and here we see choose price book and add product. Choose price book needs to be chosen first. We need to know that we have the right price book selected.
So right now I have the standard product and the retail price book. So I want to make sure that I'm using the standard price book. I'm going to hit save. And Sales Force always gives you a warning when you're re-saving to make sure you have the correct price book in place. You can only have one price book associated with each opportunity, so Sales Force just wants to let you know if you're selecting or making a big change, to know that any products could be deleted from this opportunity. I haven't selected any, so that's fine.
So now I can add a product. You'll see here there's a variety of products in this price book. I'm going to select this General Watt Diesel and I need to enter a quantity. I'm going to enter one and date, I'm going to enter February first and I can add additional description here. Now if I scroll down I'm going to see that I have added a product to this opportunity.
So that's a quick overview on products and price books and the benefits of using them for your team in Sales Force.
- Ensuring you have good quality data
- Understanding the leads lifecycle
- Viewing and assigning leads
- Viewing team leads and opportunities
- Transferring leads and opportunities
- Creating basic sales reports
- Creating reports by salesperson and by team
- Creating a goals-based dashboard
- Viewing a sales pipeline with dashboards
- Setting up products and price books
- Viewing and adjusting forecasts