Keeping track of the sales process is essential to any business, and it’s also important to know the value of each lead and the total value of your sales funnel. You can use the value of each lead to help prioritize them and you can use the total value in your pipeline to see how much money you may have coming in.
The Lead pipeline is already helpful for tracking sales, and you can also use the Lead pipeline to track expected revenue from each sale! The Lead report provides a look at your sales pipeline, and you can use a custom pipeline field to track the value of each lead.
Please note: the term “Lead” is customizable. Lead is the name of a specific pipeline, and your account may show other options in the navigation bar, including “Pipelines.”
Creating a custom pipeline field is easy! Simply go to the Custom Pipelines page and select “Edit” beneath Lead (or whatever your pipeline is named). On the lower left side of the next page, you can click on the “Create a Custom Field” box to create a new field. You’ll then need to enter a field name, like “Estimated Value,” and choose the field type as a number field.
Once you create that custom field it will appear as an option within the Lead pipeline so you can enter the estimated value of each lead.
As soon as you enter a value for a Lead it’ll appear on the Lead report so you can easily view that information. You can also use this field to calculate the estimated value of leads in your pipeline and find the average deal size. If you’d like to know the total estimated value of all leads in your pipeline simply export the data to Excel using the button in the upper right. The estimated value field will have its own column in Excel, and you can then total the estimated value column to find the estimated value of deals in your pipeline. To find the average, you can take the total estimated value and divide that by the number of entries in your pipeline.
Now that you have a value field, start using it! You can enter the value, or possible value, of each lead into your new custom field. You’ll be able to view those numbers on the Lead report, and use an export to perform any calculations you’d like in Excel.