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Understanding Opportunities

What is an Opportunity?

A Sales Opportunity - sometimes referred to as a ‘Deal’ - is used to track a potential sale from the early stages of initial inquiry all the way through to when your customer signs on to buy your product or service. Having a structured process for your Opportunities helps you win more sales. With the use of Milestones, Capsule lets you forecast your sales and give you valuable insight into your business growth over time.

An Opportunity is linked to a main contact but you can also link additional contacts to it to help keep track of all parties related to the sale. This is helpful if you’re setting up an Opportunity for a company but need to keep track of the specific decision makers that will help win the sale.

How to use Opportunities

  • Selling a product - You can setup opportunities with a fixed value for the cost of the product you’re selling. Capsule will then project the income for that sale based on its milestone at the time the opportunity is expected to close.
  • Providing a service - When you charge a recurring price you can setup Opportunities with a non-fixed value to help you forecast the income over the entire time the service is provided. For example, your Opportunity could be for a 12 month contract and so Capsule would forecast your income for the 12 months after the opportunity has been closed.
  • Selling a property - If you’re in the real-estate business you can use Opportunities to track the sale of a property from the stages of early enquiry through to a verbal agreement and until a contract is signed and keys are exchanged.

For users on the Teams plan you can assign opportunities to specific teams and use our reports to better understand how teams are performing.

Opportunity Best Practices

When managing a sales pipeline, it’s good to think about a few key things to help you stay on top of your Opportunities and ensuring that you focus your time and resources on the right thing. Capsule helps you do that but it’s worth having a think about your process before you get started to help you stay even more organized and grow your business.

When you first get started with Capsule, you will inevitably add contacts for the leads that you’re looking to sell to. Before you create an opportunity for a lead, we recommend that you nurture the lead for a little bit. Take some time to contact them by phone or email for example to get an idea of their interest in the products or services that you offer.

Then, only when you think they are “worthy” of an Opportunity, you can create one for them. Working this way ensures that you don’t bury yourself under a mass of Opportunities and their tasks. Instead your pipeline only consists of Opportunities that have at least a small chance of being won which in turn ensures that your conversion rate stays high.

If you find that over time you don’t have enough Opportunities then you can adjust your process and perhaps be more “generous” with who you create an Opportunity for. There’s always a balance but this process is a good starting point.

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