By tracking the last stage before a deal is lost, you can gain valuable insights into where deals tend to falter
Losing a deal is never easy, but it can be even more frustrating when you don't have visibility into the final stages before it slipped away. This lack of insight makes it challenging to identify patterns, refine your sales process, and ultimately improve your win rates.
This hack will empower you to:
- Identify bottlenecks in your sales process
- Pinpoint areas for coaching and training
- Refine your sales strategies to increase win rates
Prerequisites
Before you start, ensure you have created a custom property called "Last Deal Stage" within your CRM. This property will store the last stage a deal was in before it was marked as lost.
Workflow Setup
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Trigger: Create a workflow that triggers when a deal's stage changes, but it's not marked as "Closed Lost."
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Action: Add a workflow step that copies the current deal stage into the "Last Deal Stage" custom property.
Report Creation
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Navigate to Reports: Go to "Dashboards" -> "Reports" -> "Create Report."
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Report Type: Select "Single Object Report" and choose "Deals" as the object.
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Deal Properties: Add "Deal Stage," "Last Deal Stage," "Number of Deals," and "Total Amount" as the deal properties you want to include.
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Visualisation: Choose "Column" as the visualisation type.
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Axes: Set "Deal Stage" on one axis and "Last Deal Stage" and "Number of Deals" on the other. You can also add "Total Amount" if needed.
Remember, knowledge is power. With this report, you can turn lost deals into valuable learning opportunities and pave the way for future success!
Author: Bridget Pyne
Marketing Manager