Can You Even Create Opportunities?

[WShallman]

Whats up everyone!

I was using salesforce for a long time. I am now implementing a few GTM sales structures for the new company I am at... 

In Saleforce you could create an "Opportunity" and then convert that "Opportunity" into a "Deal." 

The reason I want to do this is to see all the opportunities my company has and how many of them convert into a deal (Likely to close) . An opportunity is a lead that you have done a disco with or is a lead that has booked time to have a demo. When a lead wants info they become an opportunity, when an opportunity has seen the demo and still wants to move forward they are now a deal. I want to do this to track how accurately my reps can forecast their own opps and I want to better understand deal velocity through stages. 

DOES ANYONE KNOW IF HUBSPOT CAN EVEN CREATE OPPORTUNITIES? Do I have that ability? 

[karstenkoehler · Accepted solution]

Hi @WShallman,

Unlike some other CRMs, HubSpot does not have an opportunity as a separate entity / object. The opportunity status would be reflected on the contact record, within the lifecycle stage: https://knowledge.hubspot.com/contacts/use-lifecycle-stages

This article by @franksteiner79 explains nicely how lifecycle stage and deal creation work: https://community.hubspot.com/t5/Ask-Me-Anything-and-Panel/AMA-Demystifying-HubSpot-s-lifecyle-stage...

What's described under the above link is how HubSpot suggests you work with the lifecycle stage and deal object. Of course you don't have to. Generally however it's the easiest way to use the tool and if you're open to changing slighly how you work, you'll have an easier time.

Best regards!

[ChrisBabelquest · Accepted solution]

Have you considered adding "opportunity" stage/s at the beginning of your sales pipeline?

If the first stage is "opportunity" you can add properties to track whether they had a demo or requested info and then move them to the deal stages if there is a deal, or a qualified out stage if there isn't.

This would allow you to do everythin g you suggest and give accurate conversion percentages

[LaurenRyan · Accepted solution]

Correct - HubSpot only has one object for Deals. 

The Lifecycle Stage (explained in depth with Salesforce reference here) can be used to track this conversion.

Or, you can use an earlier stage deal stage to track this (demo-d here).

For more on how the HubSpot Salesforce integration works, enroll in our free course!

[ChrisBabelquest · Accepted solution]

Have you considered adding "opportunity" stage/s at the beginning of your sales pipeline?

If the first stage is "opportunity" you can add properties to track whether they had a demo or requested info and then move them to the deal stages if there is a deal, or a qualified out stage if there isn't.

This would allow you to do everythin g you suggest and give accurate conversion percentages

[karstenkoehler · Accepted solution]

Hi @WShallman,

Unlike some other CRMs, HubSpot does not have an opportunity as a separate entity / object. The opportunity status would be reflected on the contact record, within the lifecycle stage: https://knowledge.hubspot.com/contacts/use-lifecycle-stages

This article by @franksteiner79 explains nicely how lifecycle stage and deal creation work: https://community.hubspot.com/t5/Ask-Me-Anything-and-Panel/AMA-Demystifying-HubSpot-s-lifecyle-stage...

What's described under the above link is how HubSpot suggests you work with the lifecycle stage and deal object. Of course you don't have to. Generally however it's the easiest way to use the tool and if you're open to changing slighly how you work, you'll have an easier time.

Best regards!