How do I set Win Probability in RealtimeCRM?
Win Probability in RealtimeCRM is the likelihood of an individual Opportunity being won and the sale adding to the income of your company.
By default the Win Probability on all Opportunities in RealtimeCRM is set to 100%, where 100% denotes that you are certain you will win the Opportunity. Logically, if you set the Win Probability to 0% then you believe will definitely not win the Opportunity.
The Win Probability allows you to calculate the expected value of your Opportunity Pipeline. This allows you to see the value of sales you're likely to close overall and at each stage.
For example, let's say you have an Opportunity worth $1,000 with a Win Probability of 75%. That means the expected value of the Opportunity is $750. The expected value gives you the weighted pipeline value.
The Expected Value is helpful for forecasting revenue. It’s designed to give you an overview of your sales opportunities. It considers how far along the Opportunity Pipeline each prospect is and how likely they are to convert into a paying customer. This helps forecast revenue and is particularly effective for sales teams with lots of Opportunities in the pipeline.
How do I set the Win Probability?
You can set the Win Probability when you first add a new Opportunity, just program it in on the Add Opportunity form. By default it will be set to 100%.
- Click on the Opportunities panel in the left hand sidebar
- Select the desired Opportunity you wish to set the Win Probability
- Once on the desired Opportunity record click ‘Edit’ on the Opportunity details box
- A dialog box will appear. In the field ‘Win Probability (%)’ you can program it in
- Click the Update button to save the change.
How does Win Probability appear in RealtimeCRM?
Once you've set the Win Probability for your various Opportunities you can click through to the Opportunity Pipeline to view the forecasted value for each stage of your pipeline as well as the overall forecasted value of your entire Opportunity Pipeline.