A lost opportunity refers to a potential deal or sale that fails to close successfully. It occurs when a prospective customer or lead decides not to move forward with the purchase, typically after engaging with the sales process. In this article, we will explore a feature designed to enhance your understanding of why opportunities are lost, offering deeper insights into your lead management process. This feature enables you to track and analyze the reasons behind missed conversions, allowing for more informed decision-making and strategies to minimize future losses.
Begin by navigating to the Opportunities section in your account.
There are two methods for marking an opportunity as lost:
- Drag the opportunity card to the "Lost" status.
2. Open the opportunity modal and select "Lost" from the status options.
When an opportunity is marked as lost, you can select a reason from a predefined drop-down list.
Adding Lost Reasons
If the available reasons do not accurately reflect your situation, you can easily add a new reason in the Lost Reason field.
If the desired option is already listed, simply click it from the dropdown list.
Selecting "Update" or "Confirm" will save the opportunity as lost with the specified reason. Alternatively, if you click "Cancel," your changes will not be saved.
Visible Insights on Opportunity Cards
If a lost reason is chosen, it will be displayed directly on the opportunity cards.
For a cleaner view, you have the option to show or hide these details using the Advanced Filters.
Tracking lost opportunities is essential in sales management, as it helps businesses understand why certain deals didn't close and provides insights that can improve future sales strategies. By analyzing the reasons behind lost opportunities, teams can identify areas for improvement, such as refining their product offering, adjusting pricing, improving the sales process, or targeting the right audience more effectively.