New Business
Card in Atrium: Opps Advanced - New Business card
- Overview
- Why It's Important
- Who It's Useful For
- Definition
- What Data Is Used
- Alerting
- Back of Card
- How to Use It
Overview
Number of new business opportunities that advanced to a higher probability sales stage during a given time interval. (Learn more about how Atrium Actions & Objects work to calculate metrics.)
Why It’s Important
The number of opportunities that advanced stages is a powerful intermediate metric that shows aggregate forward movement of opportunities through an AE’s (or SDR who owns opportunities) pipe.
While meetings, emails sent, and accounts touched are important measures of selling activity, reps engage in those activities for the purpose of advancing opportunities towards the finish line. This card makes that progress visible.
Who It’s Useful For
This card is primarily useful for AEs and their managers, but can also be useful for SDRs who own opportunities across a series of stage progressions.
Definition
This counts the number of Opportunities owned by a rep that have a higher probability at the end of a given time frame than they did at the beginning. An Opportunity will count for an AE if the AE both owns the Opportunity at the end of the time frame and owned it at the time that it advanced.
What Data Is Used
Opportunity Owner, to assign ownership to an AE; Probability, which is generally linked to the Opportunity Stage; and Opportunity Type to determine whether it is New Business.
Alerting
The default alert for this card is based on the number of new business opportunities that advanced in the trailing 30 days. This alert will trigger at any time a given rep’s or team’s number of opportunities that advanced in the trailing 30 days falls or rises compared to the average number of advanced opps for that rep for the six preceding months.
This alert will also trigger if a rep or team has advanced significantly more or fewer opps than their peers in the trailing 30 days. Goal alerts also look at the trailing 30 day period to determine whether a rep is meeting their goal.
Back of Card
The data on the back of this card shows, for each Opportunity included in the calculation, the Opportunity Name, the current Stage of the Opportunity, the amount in dollars of the Opportunity, and the number of meetings Atrium was able to associate to the Opportunity in the time period.
How to Use It
Opportunities Advanced is a measure of pipeline velocity, and thus a precursor metric to won deals and bookings.
AEs and managers can use total opportunities advanced to ensure that enough opportunities are moving forward in the pipeline such that an AE has a good chance of closing the requisite number of deals to reach quota.
For instance, if a manager knows that if a rep advances 20 opps per month, that historically 5 will close, now he can watch that opportunity advancement metric for all of his reps to make sure they’re tracking towards that outcome.
The mix of opportunity advancements can also be helpful. Are most opportunity advancements for an AE down funnel (say from stage 4 to stage 5, out of 6 stages), or are they instead primarily up funnel?
Existing Business
Card in Atrium: Opps Advanced - Existing Business card
- Overview
- Why It's Important
- Who It's Useful For
- Definition
- What Data Is Used
- Alerting
- Back of Card
- How to Use It
Overview
Number of existing business opportunities that advanced to a higher probability sales stage during a given time interval.
Why It’s Important
Opportunity stage advancements are a powerful intermediate metric that shows aggregate forward movement of opportunities through an Account Manager or CSM’s pipe, as expansion opportunities move through the sales process and renewals become more likely.
While meetings, emails sent, and accounts touched are important measures of selling activity, reps engage in those activities for the purpose of advancing opportunities towards the finish line. This card makes that progress visible.
Who It’s Useful For
This card is primarily useful for the Account Manager or Customer Success Manager who owns renewal and expansion opportunities. Where AEs work with existing customers, this card will be useful for them as well.
Definition
This counts the number of Opportunities owned by a rep that have a higher probability at the end of a given time frame than they did at the beginning. An Opportunity will count for an AM if the AM owns the renewal Opportunity at the time that it advanced.
What Data Is Used
Opportunity Owner, to assign ownership to an AM, Probability, which is generally linked to the Opportunity Stage, and Opportunity Type to determine whether it is an existing business (renewal or upsell) opportunity.
Alerting
The default alert for this card is based on the number of existing business opportunities that advanced in the trailing 30 days. This alert will trigger at any time a given rep’s or team’s number of opportunities that advanced in the trailing 30 days falls or rises compared to the average number of advanced opps for that rep for the six preceding months.
This alert will also trigger if a rep or team has advanced significantly more or fewer opps than their peers in the trailing 30 days. Goal alerts also look at the trailing 30 day period to determine whether a rep is meeting their goal.
Back of Card
The data on the back of this card shows, for each Opportunity included in the calculation, the Opportunity Name, the current Stage of the Opportunity, the amount in dollars of the Opportunity, and the number of days until the Close Date on the Opportunity, where a Close Date in the past will show as a negative number.
How to Use It
For Account Managers who are expected to complete a certain amount of upsell deals in order to reach their quota, this card will function much like the Opportunities Advanced - New Business card does for AEs, providing a strong measure of pipeline velocity, and thus a solid precursor metric to won deals and bookings.
For renewal opportunities, this card with its “Days Until Close” filter can let a manager check in to make sure that opportunities coming up for renewal are moving towards close.
The data on the back of the card can also let a manager identify which opportunities have been recently won and which may already be past their renewal date and are at risk of churn.