What is displayed in this dashboard depends on the settings of Pipeline Configuration where the definition of potential stages as well as how the Overdue and Old CRM records are defined. For details, refer to Pipeline Configuration.
Definitions of each type of CRM record:
- Open Records: Potentials with the forecast type defined as Open.
- Won Records: Potentials with the forecast type defined as Closed Won.
- Closed Records: Potentials with the forecast type defined as Closed Won or Closed Lost.
- Initial State: Potential creation date.
Definitions of each KPI:
- Open Potentials: Number of Open Records at the beginning of the selected period (in the last month or last 30 days).
- Win Rate: Number of Won Records with a Closing Date within the selected period divided by (number of Closed Records with a Closing Date within the selected period + Overdue Records + Old Records).
- Deal Size: Average Amount field of Won Records with a Closing Date within the period.
- Sales Cycle Length: Average time it took for Won Records with a Closing Date within the period to move from the Initial State to the Closing Date.
Definition of Pipeline Velocity:
Open Potentials x Win Rate x Deal Size x (30 days) / Sales Cycle Length
To boost Pipeline Velocity, motivate sales behaviors that will increase your Open Potentials, Win Rate, or Deal Size, or find ways to reduce your Sales Cycle.
- Increase your qualified opportunities
- Increase your win rate
- Increase your average deal size
- Reduce your sales cycle length
Example:
- Check the Pipeline Velocity dashboard periodically to confirm your pipeline is operating efficiently.
- Identify potential issues highlighted in red, e,g, the Win Rate KPI has trended downward in comparison to the previous period.
- Drill down/analyze: Add Win Rate to the trend chart.
The following chart indicates that the average Win Rate dropped from a peak around 100% in December to around 80% in January. - To increase the Win Rate, create a contest with just a few clicks from the Win Rate KPI.
You can energize the team with the new contest. See also Contests.
