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03. Opportunity Management

 

From Prospect to Sales

Added Value 

Managing Opportunities in the CRM will help you by:

  • Recording all business related information and make it visible (if it’s not in SFDC it doesn’t exist)
  • Involving people from your GBU and get collaboration (opportunity team) by leveraging expertise, and identifying a lead for others colleagues from other GBUs (cross-collaboration)
  • Getting recognized for your achievements, for the closed deals and the steps you went through, the difficulties, the success factors, the reasons for lost deals, etc. ® track history
  • Logging or discovering information on competitors
  • Enhancing your team’s opportunities insights – focus on the opportunities that matter the most
  • Optimizing opportunities pipeline workflow – standardize your sales process and keep your opportunities moving forward and see how time is spent throughout the process
  • Supporting pipeline management: giving visibility to all opportunities opened in SFDC and how can we move them efficiently to close the deals and how to use these cases to put in place for a similar customer

What you need to know to start...

  1. Definition of an Opportunity: an Opportunity is any potential business able to generate sales revenues with existing customers or prospects.
  2. There are three types of Opportunities:
    1. Growth - Product Qualified – to be used whenever the product is known to, approved by and possibly being used by the customer, and that will generate growth.
    2. Growth - Product Requiring Qualification – to be used whenever product testing (laboratory and/or industrial) and approval is needed before closing the deal. Typically used in innovation projects.
    3. Recurrent Business – to be used for contract renewals not generating growth.
  3. Cross-BU Lead: an opportunity to share with another GBU/BU a business lead learned during an interaction with the market and that can potentially generate additional revenue for the Group.

  4. Competitive Insight: a process of registering and sharing market intelligence obtained from customers as a result of ongoing negotiations. Such info may be registered in SFDC if the source / circumstances in which the data is obtained are mentioned.

    One must never pro-actively ask for or accept detailed information on specific competitors. It is possible to ask/receive general info on competing price levels or terms /conditions if this helps to make a competitive offer. Always report to Solvay's Legal Department if detailed information about a competitor's offer is received or if any organized information exchange via the customer is suspected.

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