Opportunity management in Microsoft Dynamics 365 can also help you improve the sales performance of your business. That is one of the many facets that this software solution offers you. In this case, we want to explain how you can take advantage of it through its correlation with different sales processes .
Opportunities, in Dynamics 365 , are especially useful from two points of view. On the one hand, they allow you to transform a potential client into an effective client for your company. And, on the other, they can lead you to promote the sale of other products or services to existing customers. To manage them correctly, yes, it is convenient to follow a certain course of action, which we can define as a sales process. Under these lines you can see a graphic scheme that describes the main phases of this process.
In this example, you start with a properly qualified lead who has been created a lead . In this way, the development phase of the opportunity is entered, in which most of the work must be concentrated so that it definitively comes to fruition. Working on an opportunity may involve multiple interactions with customers or prospects. Like, to name a few, meetings or phone calls. The effectiveness of commercials in their performance is what will mark, under normal circumstances, the final destination of that opportunity. If won, it will become an offer with a high chance of being accepted. Otherwise, the process will start over.
Conversion processes in opportunity management with Dynamics 365
Opportunity management in Dynamics 365 Business Central can be done through what we define as sales processes. On the one hand, we can talk about the process that is derived from a pre-existing potential client . And, on the other hand, we can also speak of a process that is based directly on opportunity .
In the first case, it is necessary to carry out the corresponding qualification of the potential client before negotiating the opportunity with him. We have already seen this in the previous example. In the second, meanwhile, we start from the business opportunity and proceed to search for the client or clients who may be interested in it, whether existing or potential. Below these lines, you can see a graphic example of how to convert a business opportunity from a potential customer.
In either case, whether it is an opportunity derived from a potential client or an opportunity generated without a previous client, the following phases are common:
- Development . During this phase you can identify the stakeholders, competitors and members of the company who can participate in the development of the opportunity. And, once this section is completed, proceed to work on the corresponding proposal.
- Proposal . In this phase, the specific proposal is developed to present it to the corresponding client, whether potential or existing.
- Close . Finally, in this phase, we work side by side with the client so that they make a final decision within a certain period. Once taken, the opportunity is definitively closed, either as won or lost.
Types of opportunities you can manage
Dynamics 365 allows you to manage multiple types of opportunities. Usually, the most advisable thing is to define them in such a way that you can proceed to filter them through this software effectively. Thus, you can have available, with just a few clicks, those that interest you most at all times . Either to proceed to work with them, check their status or check how their final outcome was carried out.
For example, you can establish an opportunity classification based on the following characteristics, which, in turn, can be translated as views in Dynamics 365 :
- Open opportunities . It includes all the open opportunities that are assigned to a user.
- Closed opportunities . In this case, the type of opportunity includes all those that have already been definitively closed, either as won or lost.
- Opportunities won . Groups closed opportunities that were identified as won.
- Missed opportunities . Gather closed opportunities that were identified as missed in a single view.
- Recent Opportunities . It presents the user with all those opportunities that have been recently created over time.
If you want to deepen your knowledge of Dynamics 365, we offer training
In this post we have explained in a concise way how you can take advantage of opportunity management in Dynamics 365 . If you want to know more about this option or seek to deepen your knowledge about this software, from Dynamics Square we can also offer you different information services. In this case, through our Business Management department . If you have any doubt or question to ask us about it, without commitment, or you are interested in contracting our services, please contact us. We will be happy to assist you. First of all, we want to become your technological partner of reference, help and guide you so that you can apply all the advantages that digital transformation offers you in your business. Our more than 11 years of experience in the sector and the satisfaction of our more than 2,50 clients are our best letter of introduction.
