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Outreach Opportunities

The Opportunities metric measures the number of potential new business or partnership opportunities generated through outreach efforts.

With Databox you can track all your metrics from various data sources in one place.

Opportunities 145 Start tracking this metric
  • About
  • Tech details

What Are Opportunities

Opportunities refer to the potential new business prospects or partnership openings that are generated as a result of outreach efforts and marketing activities.

Simply put, opportunities are leads that have shown interest in a business’s products, services, or offerings.

This metric is useful for any business aiming to expand its customer base, generate more revenue, or establish valuable partnerships in its industry.

How to Calculate Opportunities

Calculating opportunities involves quantifying the number of potential new business or partnership prospects.

You should establish clear criteria for what qualifies as an opportunity based on your business’s objectives.

For example, it could be a website inquiry, a completed contact form, a request for a product demo, or any other meaningful interaction that indicates interest.

Once you have that, the formula is pretty simple:

Opportunities = Total count of qualified opportunities within the specified time period

Let’s say a software company that wants to calculate opportunities for the second quarter (April to June) of a given year.

During the second quarter, the company recorded the following qualified opportunities:

  • April: 50 inquiries through the website contact form
  • April: 25 requests for a product demo
  • May: 40 sign-ups for a free trial
  • June: 30 leads from a marketing event

Let’s use the formula:

Total Opportunities = 50 + 25 + 40 + 30 = 145

In this example, the software company generated 145 opportunities during the second quarter of the year.

How to Increase the Number of Opportunities

If there’s one thing most business owners will agree on, it’s that there are never enough opportunities and leads.

More opportunities lead to more conversions, which leads to more money generated for the business.

However, increasing the number of opportunities you get for your business requires a lot of experimenting, brainstorming, and refining different marketing strategies.

Below, you’ll find a few useful strategies we got from talking to industry experts over the years:

  • Refine your sales pitch: Sales pitches aren’t evergreen. You’ll need to constantly refine your sales pitch and test different variations until you find a winner (for the time being). Also, keep in mind that users always prefer natural conversions to scripted pitches. An in-depth conversation about the product and its benefits is always a stronger option than following a scripted template.
  • Duct-tape leaks in your sales pipeline: Ideally, you’ll have a strong visual display of what your sales pipeline looks like and where prospects are dropping off. Is it the landing page? The checkout page? Or something else? Once you pinpoint the drop-off site for new leads and opportunities, you should duct-tape it with a proper strategy.
  • Micro-test messaging at the beginning: Early-stage companies typically have nowhere near the data needed to create the “perfect” messaging. But if you conduct proper micro-testing, you don’t need it. Create a good enough messaging strategy and then start micro-testing variations of it until you find the right fit for the time being.

More resources to help you improve:

Visualizations

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    Number

    Used to show a simple Metric or to draw attention to one key number.

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    Pie Chart

    Used to illustrate numerical proportions through the size of the slices.

  • Databox visualization

    Bar and Line Chart

    Used to show comparisons between values.

How to track Opportunities in Databox?

Databox is a business analytics software that allows you to track and visualize your most important metrics from any data source in one centralized platform.

To track Opportunities using Databox, follow these steps:

  1. 1
    Connect Outreach that contains the metric you want to track
  2. 2
    Select the metric you want to track from the list of available metrics
  3. 3
    Drag and drop the selected metric onto your dashboard
  4. 4
    Watch your dashboard populate in seconds
  5. 5
    Put Opportunities on the Performance screen
  6. 6
    Get Opportunities performance daily with Scorecards or as a weekly digest
  7. 7
    Set Goals to track and improve performance of Opportunities
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Basics

  • Description
    The Opportunities metric measures the number of potential new business or partnership opportunities generated through outreach efforts.
  • Category
    Marketing Automation
  • Subcategory
    Opportunities
  • Date Added
    2019-01-10
  • Cumulative Support
    Yes
  • Units
    No
  • Granularities
    hourly, daily, weekly, monthly, quarterly, yearly
  • Favorable Trend
    increasing
  • Historical Data
    Yes
  • Changing historical data
    No
  • Forecast Support
    Yes
  • Benchmark Support
    Yes
  • Media Support
    No
  • Dimension
    N/A
  • Metric Type
  • API Endpoint
    {app_endpoint}/api/v2/https://{app_endpoint}/api/v2/opportunities

Questions? We've got answers.

  • Why are sales opportunities important?

    Sales opportunities are important because they represent potential leads with an expressed interest in a company’s products or services. Tracking and analyzing opportunities help businesses identify prospective customers and enable more focused sales efforts.

  • How do you identify sales opportunities?

    Different companies use different ways of identifying sales opportunities.

    They can be identified by monitoring customer interactions such as website inquiries, completed contact forms, demo requests, or expressions of interest in a product.

    Furthermore, leads that come from marketing campaigns, referrals, or networking events can also indicate potential sales opportunities.

  • How do you create a sales opportunity?

    Creating sales opportunities basically comes down to how well you understand your customer, their desires, and their pain points.

    If you know how to properly address these things and what to address with your advertising and messaging, you can easily turn more prospects into qualified sales opportunities. 

     

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