Managing and monitoring Prospects

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Prospects are people that you've identified as potential clients. Your company can manage prospects as specific Stages within the Client record, or by using the Prospect feature; this article describes how to use the feature, which includes several components:

  • 'Create a Prospect' wizard for adding new Prospect
  • 'Prospect 360' page for viewing a summary of an existing Prospect
  • 'Opportunities' menu item to manage Prospects (listed as New Business) and prospective Services for existing clients (listed as Add-ons) at scale
  • 'Promote to Client' automates the transition to a fully-featured Client record
  • At a Glance tiles to highlight key pipeline indicators
  • 'Opportunities' Analytics page to enable historical performance reporting

Managing Prospects

Keeping your prospects organised in Practifi means doing one of three things: creating a new one using the wizard, updating an existing one using Prospect 360, or converting one into a client record with the Promote button.

Create a Prospect wizard

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This wizard appears in the Launcher  menu, and provides several useful categories of information:

  1. Primary Contact: The prospect's name and key demographic information
  2. Prospect Details: Information relating to how you manage the prospect internally, e.g. the Prospect owner
  3. Opportunity Info: Sales performance information that drives pipeline management and metric calculation. Potential Revenue is a calculated field with a formula of 'Potential AUM' x 'Potential Fee Rate %'
  4. Contact Info & Social: Phone numbers, email addresses and social media URLs
  5. Spouse Details: Name, demographic and contact information for the prospect's significant other.

Prospect 360 page

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Once the Prospect has been created, you'll be taken to the Prospect 360 page; this is the default landing page for the prospect. Several key pieces of information have been surfaced here:

  1. Prospect Highlights: Key performance indicators are prominently displayed above other information
  2. Prospect Details: All the details you captured in the 'Create a Prospect' wizard. You can edit this information by clicking the Edit button  
  3. Open Processes and Tasks: Records related to the workflows your practice uses for prospect automation. If a default Process has been defined for Prospects, then it will be automatically created and assigned to any Prospect you create with the wizard.
  4. Interactions, Feed and Appointments: Track your engagement with the prospect through the sales cycle. Add interactions and appointments directly from the 360 page by clicking the New button

Promote to Client button

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When it comes time to promote your Prospect to a client click dropdown_menu.png on the Prospect 360 page and select 'Promote to Client'. Upon clicking this button, your Prospect will be converted into Client, Person and and Service records; once completed, you will be taken to the Client 360 page for the record.

Monitoring Prospects

At a Glance tiles

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These tiles summarise critical information to help you understand the size and value of your pipeline, as well as highlight prospects that require further engagement. If you're using the At A Glance page that Practifi includes with the product, then these tiles will be visible in the Prospects row. If you've customised this page, get in contact with your Client Success Manager to enable the tiles.

Opportunity Analytics page

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This dashboard is accessible from as a menu item in the Analytics   section, and enables a deeper understanding of pipeline across advisers and over time. The charts along the top row visualise the table below them as a sales funnel summarising AUM and grouped by Stage, as well as timeline column charts that summarise AUM and Revenue and group them by Likelihood and Month.

The charts reflect the data visible in the table; filter the table using the drop-down menus and the charts will be adjusted automatically. The 'Type' filter allows you to select New Business or Add ons; Prospects are considered New Business opportunities.

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