It is imperative that your opportunities that you are managing have the most up to date Stage set. Many different departments at Salesforce use the stage and close date to make decisions around purchasing materials, forecasting workforce requirements, and managing revenue for the business. Please make sure that you understand all of the stages below:
00 – Pricing Exercise
Chance of Closing: 0%
Pricing exercise, not a real project. Typically used by customers who have not done business with TerraSmart previously to gauge what our pricing structure looks like.
01 – Identifying Opportunity
Chance of Closing: 10%
- Preliminary opportunity (i.e. reading about it in a news publication, or hearing about it from someone without much other data)
- Project taking place 180 days or later in the future
- Recently sent pricing to customer but not much feedback from client yet, so unsure of status
- No current indication if we are going to get it/still preliminary/rough framework of project
- Client requested pricing and is submitting pricing as part of an RFP bid
- Large amount of competition with 4 or more competitors in the mix
- Indicative pricing request
02 – Developing Opportunity
Chance of Closing: 30%
- Client reaches back out to sales rep for updated pricing (confirm pricing/re-quote)
- Project start date has moved into the 180-day timeframe
03 – Preparing Project for Close
Chance of Closing: 50%
- Testing requested by client
- Aerial drone requested by client
- Shortlisted, asking for a price discount
- Client has been awarded the project
- Site walk requested by client
- OR – You feel “somewhat” likely project will happen based on discussions with the client or other variable/sales instinct factors
04 – Negotiation
Chance of Closing: 80%
- Engineering requested by client
- Engineering submitted to client for approval
- Final proposal or pricing submitted to client based on engineering
- Project start date has moved within 150 days
- Testing completed or in progress
05 – Highly Likely
Chance of Closing: 90%
- Start date moved within 120 days
- Verbal commitment
- Engineering approved by client
- Testing completed
- Sign & Sealed plans delivered back to client
06 – Verbal Committed
Chance of Closing: 100%
- PE Stamp engineered plans provided to client
- Verbal commitment from client
- PO imminent
07 – WON – PO Received / Pending Finance Review
Chance of Closing: 100%
- Sales rep has submitted to close project for Management to review opportunity to ensure the close opportunity process was executed properly
- Opportunity will be locked from editing
- If information is missing, the opportunity will be sent back to the sales rep with status updated to Verbal/Committed for remediation by the sales rep to resolve issues with opportunity closing.
[ht_message mstyle=”alert” title=”Confirm Opportunity Details” show_icon=”” id=”” class=”” style=”” ]Commissions will be impacted if you submit an opportunity that was not ready for submission. Follow the steps found in Connect in the article Order Booking Process[/ht_message]
77 – PO Received / Closed Won
Chance of Closing: 100%
- Only Sales Ops and Finance will be able to choose this stage. Opportunity will be locked from any modifications and officially booked as revenue.
- Email will go to Project Ops team to begin the project management phase
- Finance will send email with PO acknowledgment to client