What is this measuring?
This report measures what the likelihood is that an opportunity will move from one stage to another, and what the likelihood is that an opportunity will be eventually marked as won.
Why is this important?
This information allows you to set accurate win percentages for your Pipeline stages, which then gives you more accurate forecasting information.
Create the report
*A few quick notes*
- Opportunities you want included in this report must have Close Dates. If you aren't filling in your Close Dates, those Opportunities will not be reflected.
- This report assumes that all Opportunities move from one end of your Pipeline to the other and don't move back and forth between Stages.
- This report assumes that Opportunities always move to the last Stage before being marked as Won.
1. Install the Copper Custom Report Builder. We will be using this to pull in all of your opportunities from a Pipeline.
2. Create a copy of this Google Sheet (clicking the link will ask you to make a copy):
3. The 1st tab of the sheet will have instructions as well, but then use the Custom Report Builder to import all of your Opportunity data from one Pipeline:
Once you do that you should have a new tab with all your Opportunities from a Pipeline loaded up.
4. On the "Dashboard" tab, you need to enter information into all of the cells highlighted in red. It is important that for column A, you enter your Pipeline stages EXACTLY, and in the right order. Cell L2 should be the name of the tab that contains all of your Opportunities, and cells M2 - O2 should be the corresponding columns in the Opportunities tab that have the Stage names, Statuses, and Close Dates. Finally, in cells P2 and Q2, choose the time period you want the report to run across.
*NOTE* The format for the dates in cells P2 and Q2 must be "yyyy-mm-dd".
5. Once you've entered those values, the report and charts will self populate and you are done!
If you want to update this report, all you need to do is use the Custom Report Builder under Add-ons again to update the original tab you created. If you are returning to the report, the Custom Report Builder will ask you to login again to load new data. Instead of doing that, hit cancel, and you should see the following option to update your previous data:
This spreadsheet has the above examples so you can explore the setup. If you want, make a copy of it and try some of your own reports!
Potential Reporting Enhancements
- Import a single reps Opportunities to view their conversion rates compared to the average
- See if Opportunities from different Sources have higher or lower conversion rates