Skip to main content

CRM Concepts: One Opportunity or Many?

If you track your sales in a customer relationship system (CRM) such as Salesforce or Microsoft Dynamics 365, the most important thing to track are arguably sales opportunities. Opportunities happen in the sales cycle when you can match up a person (contact) or organization (account) that may purchase something. 

This seems simple so far, but there are some business decisions to make about how to track the opportunities.  Being consistent in how you track opportunities will make your reporting more useful later on, especially if you have a sales force who each enter opportunities.  

Opportunities all have an account or contact as a buyer, and one or more products or services that the prospective customer is considering.  Opportunities have owners, and this ownership may have implications on what records users can see and update, or even affect commission compensation. 

When you purchase a new car, this may also create an opportunity for the dealer to provide financing.  You could purchase the car and elect to go elsewhere for the financing.  In this case the car dealer would win one opportunity and lose the other. 

When should you enter a single opportunity?  When should you create more than one?  Here are some criteria to consider:

  1. Are the opportunities managed by different people in your organization? You may want to create multiple opportunities if a single customer inquiry creates activities by different people in your company and each of the new opportunities can progress in its own way. 
  2. Could you win one part of the opportunity but not the other?
  3. Do different people receive sales compensation based on the opportunities that you track?
Your answers to these questions can steer you to the best answer for your organization.  

Whichever path you choose, be sure to follow it consistently.  Otherwise your reports and queries will be more difficult to understand. 

Popular posts from this blog

Key Concepts for Microsoft Dynamics 365: Tenant, Instance, App and Solution

Updated 8/15/2022 To understand Microsoft Dynamics 365 (formerly Dynamics CRM) and Power Apps, you need to learn some new terms and concepts that may be a bit different from what you know from databases and solutions that are hosted on premises.  These concepts also apply to Power Apps.  The main difference is that with Power Apps you are not starting with a Microsoft app but more of a blank canvas for your custom apps.  This post introduces some key terms and how these concepts are important for planning your implementation. While Dynamics 365 is still available on premises, it is most commonly deployed on the Microsoft cloud.  This blog post discusses only cloud implementations. Microsoft has multiple clouds such as commercial and government community clouds in several countries. We start with a Microsoft tenant .  A tenant is the account you create in the Microsoft Online Services environment (such as Office 365) when you sign up for a subscription. A tenant contains uni

Understanding Dynamics 365 and Office 365 Admin Roles

Managing Dynamics 365 instances If you run Microsoft Dynamics 365 (formerly Dynamics CRM) in the Microsoft cloud, you need to understand how your Dynamics instances relate to Office 365 and choose which of your administrators receives which roles and permissions to manage Dynamics 365. In on premises deployments, your network administrator would create and delete user accounts.  The Dynamics 365 admin would then assign permissions to users in Dynamics 365. This post explains three administrator roles: Office 365 Global Administrator Dynamics 365 System Administrator Dynamics 365 Service Administrator You may think that the Dynamics 365 system administrator would have power to do all the actions needed to manage Dynamics 365, but this is not the case. What's different in Microsoft cloud deployments is that licenses and user accounts are managed in Office 365 by an Office 365 Global Administrator.  This role is analogous to a network administrator for an on premises

Replacing Microsoft InfoPath with Power Apps

Source: by James Townsend Microsoft has offered a number of forms automation products over the years, and the most long running was InfoPath which was released as part of Office 2003.  InfoPath is a powerful and flexible product that stores user data in XML while offering form features such as rules, data validation, scripting, and integration with SharePoint.  The popularity of SharePoint resulted in many organizations standardizing on InfoPath for forms, especially internal forms which are hosted on an intranet such as employee reviews, leave and payment requests, and human resources forms. Microsoft has discontinued InfoPath, with mainstream support ending July 13th, 2021, and extended support ending July 14th, 2026. Microsoft has named Power Apps as the successor to InfoPath .  Power Apps has much in common with InfoPath.  Both products include integration with SharePoint.  Both are geared toward the citizen developer and do