How to Manage Lost Opportunities in Odoo

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When they are buying online, more than two-thirds of shoppers end up abandoning their shopping carts. This number should be quite concerning for merchants that sell via online platforms.

Regaining the loyalty of former consumers has always been a difficult task for commercial enterprises. What more steps can you take, in addition to optimizing your online shop for increased conversions and engagement, to encourage a consumer to make a purchase?

The good news is that business owners may devise a strategy and win back some of their former clients by studying the statistics of their eCommerce stores and putting their efforts into clever marketing strategies. That’s why in today’s tutorial, we will show you how to manage lost opportunities in Odoo! So, let’s dive in!

Table of Contents:

• Importance of managing lost opportunities in Odoo
• How to Manage lost opportunities in Odoo
  • Step 1: Mark a lost lead
  • Step 2: Set up a lost reason
  • Step 3: Configure and retrieve lost opportunities
  • Step 4: Restore lost opportunities
  • Step 5: Check your loss ratio
• Wrapping Up

Importance of managing lost opportunities in Odoo

When customers place orders with your e-commerce shop, they anticipate receiving their purchases in a timely manner and in good condition. Even if your shipping provider is at fault for a misplaced delivery, your consumers will still blame your shop for the problem, and the resulting decrease in customer satisfaction will, in the end, have an effect on the money you bring in.

Unfortunately, 15% of all online orders that are transported to metropolitan areas never make it to their intended location owing to either problems with the delivery operations or theft of the packages. There are undoubtedly many operations in the supply chain of your shop that are beyond your ability to control; nonetheless, you can do things to avoid missing packages and repair your connection with customers.

There is a possibility that certain business chances may slip through your fingers, and when this occurs, it is important to investigate the factors that contributed to the failure. The Odoo CRM provides a dedicated module for the management of instances like this. Under the lost reasons menu that can be found in the settings tab of the platform, you can create various reasons for chances that were lost.

How to Manage lost opportunities in Odoo

Step 1: Mark a lost lead

There are going to be a lot of circumstances in which we miss out on opportunities. No matter what the cause may be, the Odoo platform can help you flawlessly manage these kinds of events and thoroughly investigate the underlying causes for their occurrence. As can be seen in the image below, the Won and Lost buttons are included in every leads and opportunities window that can be accessed using the Odoo CRM platform.

You are able to use the Lost button once the Opportunity is no longer available to you. After then, a popup box will appear, in which you will be given the option to explain why you should not be granted this opportunity. Using the dropdown menu, you have the option of assigning a reason that has not yet been generated or providing an existing explanation.

Step 2: Set up a lost reason

After that, you may provide an explanation for the missing item by clicking the SUBMIT option. At this point, the possibility of lead can no longer be considered viable. A blood-red ribbon with the word “LOST” written on it will appear on the glass.

Additionally, the Odoo platform monitors the potential for recovering chances that were previously missed. That you may, if there is a possibility, reclaim the chances that have been lost. You may accomplish this by clicking the RESTORE button that is made available. In addition, the platform gives you the ability to examine all of the missed possibilities at the same time by letting you filter the missed opportunities on the dashboard. This will be really useful in terms of obtaining thoughts on chances that were lost and examining the reasons why. In addition, the platform gives you the ability to build and customize your own missing reasons. You can access this by going to the Configuration tab of the Odoo CRM module and selecting the Lost Reasons menu. This will allow you to manage this.

You may examine all of the default Lost Reasons in this window, and you also have the option of creating a new Lost Reason by clicking on the Create icon that is made accessible to you.

Step 3: Configure and retrieve lost opportunities

Selecting the Lost filter in the search field will allow you to retrieve lost chances and take action on them (such as sending an email, making a call for feedback, etc.).

You will then realize all of the possibilities that have passed you by. You have the option of putting a filter on the Lost Reason if you would want to narrow them down even further. For Instance, It Is Way Too Expensive.

Step 4: Restore lost opportunities

You may choose any opportunity you want from the Kanban view while the filter(s) are active and then continue working on it as you normally would. You also have the option to bring it back by selecting the Archived option.

When items in the Kanban view belong to the same stage, you have the option to bulk restore them all at once from the Kanban view. Choose to Restore Records from the available options for the column. Archiving can likewise be done in the same manner.

You will need to utilize the list view in order to zero in on certain possibilities to pursue.

After that, you will be able to choose any number of possibilities, including all of them, and decide which actions you wish to carry out.

Step 5: Check your loss ratio

Take a look at the Win/Loss ratio to determine how successful your pipeline is proving to be so far.

To view this report, navigate to the Reporting tab of your Pipeline view. There you will find it.

You will then be able to filter your view to just display the chances that are relevant to you, whether they are specific to your sales channel, your entire organization, or anything else. After that, you can select Won/Lost from the filter menu by clicking on it.

Additionally, you have the option of changing the Measures to Total Revenue.

In addition to that, you have the option to see the data as a pie chart.

Wrapping Up

We hope this tutorial will help you understand how to manage lost opportunities in Odoo. In addition to assisting your business in meeting these customers’ expectations, providing them with real-time tracking notifications may also assist in reducing the risk of their items being misplaced or stolen.

The insight provided by real-time tracking helps to eliminate the risk of products being delivered to the incorrect address or being misplaced along the delivery route. Customers may use tracking notifications to ensure that either they or someone else will be at their residence when the shipment arrives, hence reducing the risk of the product being stolen.