How to boost Sales through the Salesforce Einstein Opportunity Scoring?

Your business needs to focus on the right opportunities to make more deals. Knowing the right sales opportunities would help in prioritizing and acting on those prospects to finally clench them. 

This is where Salesforce comes into the picture as it offers a system called Einstein Opportunity Scoring that tells you the possibility of an opportunity to be won. 

This system gives every opportunity a score from 1 to 99 using the analysis based on artificial intelligence. The likelihood of an opportunity to be won is easily demonstrated with these scores. You can prioritize opportunities with these scores and convert more deals in your business!!

Now, let’s explore how this system works out, and how you can provide your business an edge over other competitors with this feature!

How does the Salesforce Einstein Opportunity Scoring work?

In the age of digitalization, an analysis of past opportunities is done by the artificial intelligence system for calculating scores in Einstein Opportunity Scoring. The system studies your closed opportunities (closed-won and closed-lost) and makes the list of factors that impact your scores.

These factors include important details of every opportunity, its history, and information about the related products, and prices. Your scores are then calculated in light of this scoring model, and get updated after every few hours to ensure their accuracy!! 

Moreover, you can also customize your scoring model as per your business requirements by removing some records or custom fields from the scoring criteria. Another best part of this system is the refreshment of the scoring model after every 10 days due to the dynamic nature of the business world.

How can you avail this feature?

You will get to avail Einstein Opportunity Scoring with a Sales Cloud Einstein license. Don’t worry if you do not have this license or Sales Cloud Einstein product suite as this feature would be available on a rolling basis to all customers without this license.

This feature is available in both Salesforce Classic and Lightning Experience. However, if you are using Lightning experience, you need to turn on Einstein for using it. Salesforce Government Cloud customers would not have access to this feature without the Sales Cloud Einstein licenses.

What are the advantages of Opportunity Scoring for your business?

The score sheet in the opportunity scores provides you with the set of positive and negative factors affecting your sales opportunity. This gives you a holistic view of every opportunity and helps you in ascertaining the focus area of every deal. Further, you are also provided with suggestions for improving your scores.

The system also helps you in reminding the opportunities if you lose track. This potentially avoids the loss of deals and impediments in decision-making. Looking at the low opportunity score, sales representatives can take the assistance of the sales manager in improving the count of that opportunity.

All these advantages provide a higher success rate to your business when you end up getting more closed deals with this system!!

How can you improve your Einstein Opportunity Score?

In order to ensure more closed deals, you have to constantly improve your opportunity score. 

• Make sure you don’t lump all your opportunities in one account. Distribute all your opportunities in relevant accounts to ensure the correct scores. 
• Never forget to enter lost opportunities as your scores are generated after examining past wins and losses. So, you won’t get reliable scores if you enter only selected opportunities.
• Always enter opportunities into Salesforce at the earliest, i.e the first stage of the sales process. You have to make sure your opportunities do not stay in the same stage for so long as it would make the scores redundant. You will have a good track record of success if your opportunities move to a higher stage.
• Further, enter the correct close date of the opportunities as you might have an adverse impact on your scores if you enter an overdue close date. The standard fields, such as amount, probability, close dates, should be updated regularly for a higher score. And don’t forget to complete all fields on your opportunity record to get the most accurate scores.

Make a note of all these suggestions, and improve your opportunity score on Salesforce!!

When will your scores not appear?

It may happen that your score for a particular opportunity is not visible. It could be because of the following reasons:

1. When you would first-time use this feature, it may take around 48 hours before your scores become available.
2. The score would be removed if there is a closure of the previously scored opportunity.
3. The score would also not appear if the opportunity is excluded from Einstein’s scoring process by the admin.
4. Addition of the opportunity in less than 6 hours.
5. When there is not enough opportunity data, your scores won’t be calculated by Einstein.
6. Scores for the opportunities related to a person account would not be available if opportunity scoring has been turned on by default. Turn it off and then switch it on again if you need the scores for these opportunities.

What are the data requirements for this feature?

1. There must be a minimum of 200 closed-won and 200 closed-lost opportunities in the last 2 years. Each of these opportunities should have a lifespan of minimum of 2 days.
2. An average of one update to every closed opportunity is shown in the opportunity history.
3. Make use of the standard opportunity Stage field.
4. Avoid skewed scores if you have an extremely high or low win rate. Always set the opportunities to the correct closed stage to keep away from this issue.
5. Collect enough opportunity data to build your own scoring model, and get customized results as per your business needs.

Conclusion

Now you can maximize your sales with valuable insights and predictions of opportunity scoring. We hope you found this piece helpful. If you wish to know more about Einstein Opportunity Scoring, do go through our blogs section. 

At CEPTES, we are a Salesforce consulting partner offering end-to-end Salesforce solutions. Reach out to us, we’ll be happy to assist you. 

Thanks for reading!