Modules
Class 7: Custom Formula Builder
Transcript
So how do I calculate the sales cycle, quarter by quarter, for example, or month over month, based on your specific needs? So you can do this with custom call formula properties.
So there are a couple of things you'll need. You'll need an if condition and this time between property. So this is more clear.
So if deal stage equal to equal to and then you can, go granular and just include the deal stages which are relevant for you, like, only the relevant pipeline. So you don't have to deal with a property which has data for any weird things going on. So I've narrowed down you know, let's select our deal stages. I'm gonna go with my sales pipeline and my upsell pipeline.
So I wanna see what's the, sales cycle looks like for these two. So we'll grab the ID of the stage here, and then let's go and do let's do renewal pipeline instead. So we wanna check how much time our renewal sales cycle like, renewal cycle takes, and we can use the same property. So we're using either sales stage is, this stage, like the one stage or sales stage is one stage for renewals.
Then, there is this other function. You can find your functions here, and they keep adding new ones.
Yeah. No new ones for now. But, yeah, you can check all the functions here, and you you can grab the properties from here. And then you have your create date, so the time that record was created, and your close date.
Now some caveat to discuss here. If you wanna, if you have a custom property like, unlike the create date, if you have anything else that that is that indicates the start of your sales cycle. So for example, if, you have a holding stage, like a stage zero, and you don't wanna count that, and that would be a very bad idea to count that. And then when when you move to stage one, you can then create a workflow to stamp that date when, you know, date entered stage one, whatever your stages, like discovery, pre discovery, or demo, whatever, based on your specific business model.
You can use that property here and then the close date. So close date is super important in in multiple places, so I recommend using that.
If you wanna be super strict about that, then you can use another stamping property, date entered closed one. And then as soon as someone, you know, moves the deal to closed one stage, you'll mark that property. But there is a there's a problem with that. Sometimes people forget to update the CRM or stuff like that.
And then they wanna manually change the close date to, you know, ensure the deals are in the correct quarter, for reporting and forecasting purposes. So I highly recommend using the out of the box close date. So this is how you'll build it. And once you build it, you can just, create a simple report with using the average, and you can divide it by quarter.
I'm using the close date, for the time range. And then you can visualize is is your sales cycle shrinking or is it growing? So in our case, this is shrinking. It's, so it's a very good news.
This is all demo data, so, I don't have to worry about that. But I just wanted to share this week solution that I've built, and it's working really fine for us. I'll see you in the next one. Thank you.