The opportunity Management system makes you view all the opportunities of your company. Opportunities are not automatically generated. You have to convert a lead as an opportunity only if they are interested in your products. In detail, Opportunities are the members who are your leads at the beginning stage. That is, they don’t know about your products, your services and your management. They just visited your company to know more about you and your products. So here they are called leads. But once you come to understand that lead is showing more interest in your products after more discussions, explanations and demos.
Here you can convert that lead as an opportunity to your company in the Lead Management System. But he is still a lead to your company. Because converting a lead into an opportunity means you are not changing his role, you are just making him an opportunity for your company.
Example: Ramesh is one of the leads of your company. He was not interested in your products; he just came to know about your products because of his friend’s suggestion. But later after knowing more about your products he was impressed and was interested in your products. Now because of his interest he may or may not buy your products. You have an opportunity in hand to make him buy your products so he is an opportunity for you. Now here in the opportunity management system, you can interact with him easily as he is interested in your products and make him more impressed and can make him buy your company’s products.
Importance of Opportunity Management
An opportunity management system will help you to make more customers.
An opportunity management software provides you with an all-around view of the opportunities along with their financial transactions, sales, and support cases. This helps you to develop a strong relationship with your customers.
This software helps you to increase the sales of your company by accessing opportunities easily.
This shows all the opportunities of the company in one place.
This system can help us to assume the sales in future. Like the fall or decrease in sales rate.
We can find out the customer’s request and can give an immediate response to the customer by this opportunity management system.
Accessing the information of customers is an important task for any business. This can be made easy through this system.
With opportunity management software, you are in a position to see what you need to do next to help you boost your opportunities.
With this system, we can understand possible buyers’ and their requirements with our products.
Hereby knowing about a lead in detail you can manage risks at the initial stage of the sales process.
You can improve effective business proposals and can complete deals with valid contracts.
It saves time and cost for the company.
What can we do in Opportunity Management System?
In the Opportunity Management System, we can interact with the customer more flexibly through phone calls, email, SMS etc than in a lead management system.
Here we can know more detailed information about opportunities.
We can identify the effectiveness of each step in the sales process.
This is the place where we can make an appointment for the lead with one of the people in our company.
We can create and send quotes about the products of our company to the respective leads.
In the Opportunity Management System, we can convert an opportunity to a customer.
We can easily track the sales opportunities with an opportunity management system.
We can store the data of the customer and can easily access that data whenever needed.
Here we can delete an opportunity if it was not needed.
If an opportunity is deleted by mistake we can again restore it by going to the Recycle bin in the opportunity management system.
It’s always possible to edit the details of the existing opportunities. So that we can update the data from time to time.
Here you can prepare notes which may contain detailed information about the discussion between you and the customer.
You can also check the work assigned to a person in your company with the date, time and role of that person included.
Difference between lead and Opportunity
Lead: A lead is a person who is just like a visitor who visited your site or your events, shows, etc with no interest to buy your products. He just visited with some other influence to know about you and your business. Example: Robert is your customer and he suggested his brother Babar about your products. But Babar is not interested in your services and products but to obey his brother he just visited your site. Then he is called as a lead to your business. By using a lead properly you can improve your business to the next level. Leads are the starting step of the improvement of your company. Without a lead, any business cannot go further and cannot be improved. So lead generation forms an important part of any business.
Opportunities: Opportunities are the leads but here they are interested in purchasing your products or services and want to know more about your business or have some queries regarding some aspects of your business. So they are the ones who can become your customers later. That is why we call them opportunities. Identifying Opportunities from a lot of leads may be difficult. At this stage, they may share their information with us like contact details, email etc to contact them and to discuss with them about our products and services. Example: Babar after recognizing that your products are very useful and are available for a reasonable price. He is ready to buy more of your products but he has some queries like discounts or something. Then he shares his contact information with you so that you can solve his queries and can make him your customer.
Opportunity Management System is essential for any business to improve their company sales and this can be done by using good software that manages all your opportunities.
PHP CRM is the best software that manages all your opportunities and will increase your sales. With its exciting features, customers feel satisfaction in dealing with you.
Opportunity Management System FAQs
1. Is an Opportunity Management System essential?
Yes, it is essential to improve your sales.
2. Is there any limit to store the number of opportunities?
No, you can store as many opportunities as possible.
3. Can an invoice be sent to an opportunity?
No, you can send an invoice only to the customer.
4. Can we make a call using the Opportunity Management System?
No, you can only store the call details.
5. Can we view the activities of an employee assigned?
Yes, you can use the Assigned history option.
