The introduction of Lost Reasons to Capsule allows you to capture and report on exactly why an opportunity was lost.
In order to get the most out of this new functionality, some changes have to be made to the way that milestones are used. Capsule will no longer support ‘closing milestones’, instead opportunities will have a status of either; Open, Won or Lost. Milestones are now for in progress, open opportunities only.
You may currently be using multiple losing milestones to capture why an opportunity was lost. An update process has been made to help convert your current milestone setup into one that’s compatible with the new Lost Reason functionality. This will also show you any historical issues with your milestone setup that are currently preventing you from using Lost Reasons - along with the steps the update process will take to fix them.
If you have losing milestones to convert, or if the update process needs to perform any other updates before you can use Lost Reasons, then on visiting Account Settings Opportunities you’ll see an Enable Lost Reasons panel at the top of the page:
If this panel isn’t displayed then your account is ready to begin using Lost Reasons.
To open the update click the Get Started button.
Before starting the update process you can preview the changes that will be made to your milestones.
The process will then run when you opt-in to “Enable” Lost Reasons.
There are few scenarios in which milestones will need to be altered during the update. Here are some examples, along with the steps the process will take to fix them:
Milestones named “Won” or “Lost” that will no longer be valid because they don’t match the Won or Lost status (closed with a probability of 100% and 0% respectively) will have “(Legacy)” added to the end of their name.
Closing milestones with a probability less than 70% will be assumed as losing and converted into Lost Reasons.
Closing milestones with a probability 70% or more will be considered as winning milestones and their probability will be updated to 100%.
If you have milestones that have 0% probability and are closing, we define these as ‘losing milestones’. In the past you may have created multiple losing milestones to define different reasons you have lost opportunities. Losing milestones will be converted to Lost Reasons which will then be available to select as your lost reason when you lose an opportunity.
After enabling Lost Reasons you can no longer create losing milestones as an opportunity is only ever open, won or lost from this point.
If at the end of the update process you haven’t had any milestones converted into Lost Reasons, you’ll receive a default list of Lost Reasons (listed below) to get started with. If these milestones don’t fit your workflow, you can customize your own set of Lost Reasons.
- Poor Qualification
- Wrong time
- No Authority
- Price too high
- Became Stale