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Sales and Marketing Applications

Terms in this set (67)

___ is the key field to track the Opportunity as it advances
Stage
Each stage is mapped to a ___ which is used for calculating expected revenue
probability
How is expected revenue calculated in an opportunity?
It is calculated by multiplying the amount by the probability percentage.
What are forecasts?
They are a way of estimating revenue for products and services in the future based on Opportunities and their stages and values
What must be done before a forecast can be used?
Opportunity Stages must be mapped to Forecast Categories
What are the different forecast categories? (5 things)
Pipeline, Best Case, Commit, Omitted or Closed. These can be customized
Forecasts can be measured by ___, ___ or both
revenue/quantity
Forecasts can use one or more of the following types:
Opportunity Amount Revenue/Quantity
-Expected Revenue
-Custom Currency Field Revenue
Product Family Revenue/Quantity
Opportunity Splits Revenue
Overlay Splits Revenue
What are quotes?
Records that shows the proposed prices of the organization's products and services.
Where must quotes be enabled?
Quotes > Settings
When a quote is created from an Opportunity, the ___ ___ are added to the quote automatically
Opportunity Products
A PDF can be generated for a quote using the '___ ___' button
Create PDF
Quote PDF's (are/are not) saved to the quote record.
are
____ ____ feature allows users to link a quote to the Opportunity that it was created from and reflect updates made between the two records.
Quote syncing
Only one quote can be the 'syncing' quote. Syncing is started by clicking the '__ __' button.
Start Sync
___ ___ allow opportunity revenue or other Opportunity currency fields to be split among the opportunity team members.
Opportunity Splits
Before enabling Opportunity Splits, '___ ___' should be enabled first from the Opportunity Team Setup
Team Selling
Salesforce allows two splits when enabled:
revenue splits
overlay splits
What are revenue splits?
-Revenue splits are used to split the Opportunity amount field.
-Total percentage allocated to members must always be equal to 100%.
-Revenue splits will be used in revenue based forecasts
What are overlay splits?
-Overlay splits are based on the amount field.
-The percentage does not need to total to 100% and can be higher or lower.
Splits set up and settings can be configured from SetUp > ___ ___
Opportunity Settings
Up to ___ custom split types can be defined
6
Custom splits can be defined on most opportunity currency fields, including custom currency fields, and roll-up summary fields, but not ___ currency fields
formula
An ___ is an agreement to provide products or services to a customer at a certain quantity, price and date.
order
Where can an order be created from?
Account, Contract or from the order tab
Orders must be enabled in ___ ___.
Order Settings
A ____ is an object that stores the list of products and their prices. To add products in Orders, this must be selected.
Pricebook
If the order is associated with a contract, the contract must be ___ before the order is activated.
activated
___ ___ are used to record cancellations, returns, or a reduction in order quantity
Reduction Orders
A reduction order can only be applied to ____ order(s).
one
In Salesforce, the ___ object is used to define and document the contracts, terms or agreements associated with an order, account, or opportunity
Contract
___ can be used to automate tasks on most standard and custom object records, including accounts, contacts, leads, and opportunities
Macros
What can be utilized by Sales Reps to access telephony features without ever leaving Salesforce?
Lightning Dialer
The ___ ___ is a Lightning Experience only feature that provides a view of all information related to an Opportunity
Opportunity Workspace
___ in Salesforce represent items or services that are sold to customers. They can be added to an Opportunity, Quote, Order, or Service Contract.
Products
A product can be associated with a ___/___ schedule.
revenue/quantity
What is a revenue schedule?
Can be used if customers make regular payments but receive the product once. For example, a company sells customized products that are charged in installments but delivered only once.
What is a quantity schedule?
Can be used if customers pay once but receive the product in increments. For example, customers pay for an annual magazine subscription once for a monthly magazine.
What is a price book?
A group of products and their associated prices
Where can a new Pricebook Entry be created from?
*Price Book Entries related list under Price book record
*Price Book related list under Product record
What is a list price?
A list price is the custom price that users can associate with a product in a custom price book.
Price Book organization-wide sharing can be set to: (3 things)
Use, View Only, or No Access
What can be used to send notifications when an Opportunity of a certain value reaches a trigger probability and trigger amount?
Big Deal Alert
What is the Kanban View for Opportunities?
It shows Opportunities of one record type on a board with columns for each sales stage. The totals for each stage are displayed, and Opportunities can be moved between stages by dragging and dropping.
What can be used to send alerts regarding opportunities with large amounts?
Big Deal alerts can be used to send a notification to selected users about an opportunity. The alert can be triggered from a workflow rule, flow, or process and criteria defined.
How does Salesforce support estimating future revenue?
Customizable and Collaborative (now default) forecasting. Values are displayed in forecast categories (mapped from Opportunity stages) by Product family, revenue, quantity or both.
What are Opportunity Teams?
Records multiple users that work together on an Opportunity. The role and access level can be specified for each user. Each user can specify a default team that can be added automatically to an Opportunity.
What are Opportunity Sales Stages?
A way to track the lifecycle of an Opportunity from open to closed. Stages are mapped to a type, probability and forecast category.
What is a custom opportunity split?
A feature to define up to 6 splits between Opportunity team members on any currency field, for example defining how profit is split.
What are Opportunity Splits?
Splits revenue or other currency field values among the Opportunity team. When enabled, a revenue split (must total 100%) and an overlay split (doesn't have to total 100%) is added.
How do Quotes and Syncing work?
Multiple quotes can be associated with an Opportunity with one marked as the "syncing" quote. Changes to opportunity products or quote Products are kept in "sync" for the "syncing" quote.
What are Account Insights?
Preprocessed articles related to an Account, Industry or Executives that are displayed on the Account Details page or Home page, in Lightning Experience once enabled.
What is a Quantity Product Schedule?
When a product quantity is delivered over time and allows tracking of shipping dates.
What is Revenue Product Schedule?
Revenue schedules allow tracking of revenue that is not received up front and is paid in installments or a subscription.
How do Orders work?
Agreement to supply a quantity of Product or service at a certain quantity and date. Created from an Account, Contract, or from the order tab.
What are the different types of Pricebooks?
Standard and Custom. The standard pricebook can be used if there is one price for all customers. If there are multiple prices for different customers custom pricebooks can be used.
How can Paths be defined?
A path can be set for each record type of an object. Paths can be created for most Standard and all custom objects that have picklists
What is a Reduction Order?
Returns, cancellations and reduction in quantity are recorded as reduction orders.
When forecasting by schedule date, which values are used by Salesforce to calculate forecast amounts?
Salesforce uses the values from a product schedule's Date and Revenue or Quantity fields to calculate forecast amounts.
Which Salesforce feature can be used by sales reps to make and receive calls in Salesforce as well as log call details automatically?
Lightning Dialer
What can be created and run in a Lightning Sales Console to automate repetitive tasks such as updating opportunities and sending an email?
Macro
In Lightning Experience, which type of team can be used if a partner user needs to work with an internal user on a particular opportunity?
Opportunity Team
When using Lightning Dialer, which feature allows sales reps to use a separate business line to make and received calls?
Call Bridge
Which Lightning Dialer feature can be utilized by sales reps to refer back to important conversations to improve their selling techniques?
Call recording
Which forecast type should be used to enable territory forecasts in Collaborative Forecasting?
Opportunity Revenue by Territory
Which access levels are possible when a forecast manager shares his forecasts page with another user?
'View Only' or 'View and Edit'
What are territory forecasts based on when a forecast manager is not assigned to a territory?
The territory's forecasts are based on the individual users assigned to the territory. Users can drill down to an individual rep's forecasts for a territory.
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