Zoho CRM "Moved-to" Field on Deals/Opportunities to Better ID Sales Funnel Problems
One of the biggest challenges faced by sales teams in moving deals through a sales pipeline is that, they often do not know where exactly deals fall out of the pipeline. They may start with negotiating a hundred deals, for instance, but while only about 60 convert, where is it that the rest of the deals fall out or get stagnant? How can they maximize conversion and minimize leakage of deals?
This is where our latest enhancement enters the picture. As part of this enhancement, a new field called "Moved to" is introduced in the History tracking section of a record. Using this, you can identify problematic stages in your sales pipeline — in other words, identify stages from where your deals start dropping off.
What is history tracking?
History tracking for picklists essentially tracks the changes made in a picklist for your records across modules. Once enabled, the history of a picklist field's updates, like the picklist values set, the duration for which they were set, when the field was last modified, and more, are available in a tabular form.
With the current setup, we can see the number of records that are in a specific picklist stage. For example, in the case of deals, we can see how many deals are in the "closed lost" stage. But, we can't track from which stage, these deals are moved to the "closed lost" stage.
With the introduction of the "Moved to" field, you can now track from which stage deals are moved to closed lost i.e you will be able to identify the key stages responsible for causing leakage in the sales funnel.
What is the enhancement?
The "moved to" field will be available by default for all picklists, for which you have enabled history tracking. It will show what value the picklist was updated to from the existing value.
For example, if the current value of the "stage" field in the Deals module is set as "value proposition", and you change it to "negotiation", then the moved to field will show "negotiation" as its value.
Here are a couple of scenarios where the "moved to" field could help you:
This is where our latest enhancement enters the picture. As part of this enhancement, a new field called "Moved to" is introduced in the History tracking section of a record. Using this, you can identify problematic stages in your sales pipeline — in other words, identify stages from where your deals start dropping off.
What is history tracking?
History tracking for picklists essentially tracks the changes made in a picklist for your records across modules. Once enabled, the history of a picklist field's updates, like the picklist values set, the duration for which they were set, when the field was last modified, and more, are available in a tabular form.
With the current setup, we can see the number of records that are in a specific picklist stage. For example, in the case of deals, we can see how many deals are in the "closed lost" stage. But, we can't track from which stage, these deals are moved to the "closed lost" stage.
With the introduction of the "Moved to" field, you can now track from which stage deals are moved to closed lost i.e you will be able to identify the key stages responsible for causing leakage in the sales funnel.
What is the enhancement?
The "moved to" field will be available by default for all picklists, for which you have enabled history tracking. It will show what value the picklist was updated to from the existing value.
For example, if the current value of the "stage" field in the Deals module is set as "value proposition", and you change it to "negotiation", then the moved to field will show "negotiation" as its value.
Here are a couple of scenarios where the "moved to" field could help you:
- The moved to field would be essentially helpful for businesses to track the leakage in their sales funnels. Let's say, the sales manager wants to get a list of deals which have moved to the "closed lost" stage from the "negotiation" stage. He can create a report in the Stage History module by filtering the Stage field to display the "Negotiation" value and the Moved To field to display the "Closed Lost" value.
- Additionally, if the manager wants to get the list of deals which has moved to the "In Progress" stage from the "Gathering requirements" stage, with a duration greater than four days, they can easily create such a filter and gather those records.