An
Opportunity is defined as a sales prospect, requested service or product, sales
volume and a sales probability. Opportunity can be a possibility of sales of
service or product and can result from a bid invitation, sales deal or from a
trade fair. Opportunity management is one of the integral parts of SAP CRM module and this allows you to
control the sales process.
SAP
CRM brings to the table a set of advanced capabilities on top of core sales
force automation that offer far beyond what traditional CRM features can
provide. With SAP CRM, you are able to uncover insights that will give your
sales teams the edge they need to sell smarter and improve their performance.
SAP CRM makes it easy for businesses to simplify their sales processes with
better customer engagement, accurate forecasting, and real-time pipeline
management. Learn SAP CRM training
by experts from SAP Trainings Online with experienced faculty.
Opportunity
management in Sales should be used in the following scenarios
- When sales cycle in an organization spans for a longer time period.
- When there are many sales representatives working in an organization.
- When there are large sales order values and they are distributed
Classification in opportunity management
You
can classify opportunities and related entities in the following categories
Sources
of Opportunity − This allows you to define the source of opportunities in a
sales cycle. You can mention expected sales volume from different sources like
trade fair, bid invitation, etc.
Opportunity
Group − This allows you to perform grouping of opportunities. You can
define a group for new customers or existing customers.
Priority
− You can also define priority of opportunity if it has a probability to
convert to a lead.
You
can set the opportunity group, classification and priority in CRM by going to SPRO
→ IMG → Customer Relationship Management → Transactions → setting for
Opportunities → Define Opportunity Group, Priority and Origin.
Opportunity Hierarchy
When
your sales project is split into multiple subprojects and you want to keep a
track of all the subprojects and to link them to a sales project, you can use
complex hierarchies. You can connect different opportunities to each other and
this allows you to connect sales projects and subprojects with each other.
Opportunities
Hierarchy can be used in the following scenarios:
- To link an opportunity to a sales project.
- To link a sub opportunity to a product.
- Combine several sales project connected with each other.
- Structure those sales projects which consists of several sub projects
What is a lead in SAP CRM?
CRM
creates a unique consumer experience and enables to address various business
processes in order to improve wide range of sales, services and marketing
situations. SAP SD is the module which is into complete sales process. Learn SAP SD training by unique training
platform with 12+ years of experienced faculty. It is a great way to retain
loyal customers and attract potential customers as well.
A
lead can be defined as the first stage of sales process. It represents a person
who has shown interest in buying a service or a product.
In a
sales cycle, the following order is followed − Lead → Opportunity → Quote → Order.
A
Lead can be generated from various marketing lead generation processes like
trade fairs, advertisement, direct marketing or can be from other personal
sales activities like tele-calling or an email.
Leads
can be classified into categories − Cold,
Warm and Hot by the marketing department. If a lead looks promising,
then sales department can create an opportunity from this lead.
A
Lead is different from an opportunity in a manner that it is a predecessor of
an opportunity. Opportunities are used for more complex and longer sales
project cycles. The sales representatives use opportunities to control the
sales project and maximize the chance of winning customers and minimizing the
sales time.
SAP
Trainings Online designed SAP functional training and technical courses program based on present day industry
requirements which makes the learners future ready and strengthens you to go
challenging with industrial demands. This online program is not only job
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