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- Training Course 54 Lectures
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- Training Course 54 Lectures
- Study Guide 354 Pages
MB-210 Exam - Microsoft Dynamics 365 for Sales
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Microsoft Microsoft Certified: Dynamics 365 Sales Functional Consultant Associate Certification Practice Test Questions and Answers, Microsoft Microsoft Certified: Dynamics 365 Sales Functional Consultant Associate Certification Exam Dumps
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Create and Manage Opportunities
1. Dynamics 365 Sales Opportunities
Alright, so welcome to this tutorial. In this tutorial, you will learn about Dynamics 365 sales opportunities. So in the previous videos, you learned about the first stage of the sales process in Dynamics 365, which is lead. And we talked about lead qualification, and I showed you the various reasons for the status of each stage in a lead.
So let's talk about the next step in the sales process, which is opportunities. So when a prospect or an existing customer shows interest in your products or services and they are convinced that you have the right solution for them, you understand their challenges, you understand their needs, and the solution that you have is perfect for them. When you have such prospects or customers, they are called opportunities. So the standard opportunity process flow, and in this case, we're talking about the opportunity sales process. So we have the same four stages: qualify, develop, propose, and close.
There is also an opportunity sales process in this business process flow. The opportunity entity owns all four stages. So when the sales process starts with opportunities, the qualified stage is also related to the opportunity entity and not the lead entity, right? So we have the Lead to Opportunity process that we discussed in the previous tutorial, where the sales process starts with leads. However, if you begin the sales process from opportunity rather than lead, the qualified stage belongs to opportunity, and an opportunity can be manually created when a lead is qualified and can be converted from activities. So, first and foremost, let us comprehend the opportunity for business process flow. So the out-of-the-box opportunities business process flow has four stages, as we discussed: develop, propose, and close.
So the first stage is qualifying, where you understand whether the opportunity that you have is with an existing contact or account, and what is the purchase timeline like? Are they planning to buy right away, this year, or are they undecided? You can define that and the estimated budget from the customer's point of view. What is the purchase process? Is it as if the decision is made individually, as a group decision, or is it unknown? And have you finalised or identified the decision-maker? Right? So that's in the qualifier stage; after completing the qualifier stage, the next stage is development. So developing is more about understanding customer requirements, what they are looking for, their needs, and what is the solution that you are going to propose to them? Okay, and you may need to have a lot of discussion with clients, and here you also identify stakeholders, if any, and any competitors that you're competing against.
Once you have this information, it is easy for you to understand what the customer is looking for and what the solution is, and then you can move on to the next stage, which is the proposal. So then you identify who will be the sales team member that will be working with you on a specific opportunity, and after that, the sales team needs to develop a proposal based on their requirements. It is important to include customer needs, a proposed solution, and all the other information that is required, right? And once the proposal is ready along with the financial information, you can get the internal review done and finally present it to the customer. When one customer is OK with the proposal, it means they are ready to be onboarded, and you can then onboard them and start the project. So you've completed the final proposal. If they request changes and you finalise it, you present the final proposal, confirm the decision date, and once the decision is made, you can thank them for onboarding them.
And also, you can file a debrief so that the sales team can hand over the project to the project team, which can then start execution. So that's the typical opportunity business process flow. Also, you have the option to change the business process flow if you have more than one business process flow for an opportunity. For that, you can just click Process and then switch processes. So it allows you to select another process, and when you select another business process flow, the current one goes into the background and is replaced by the one you have selected as a new process.
But please note that what was in the background will still maintain its state, and you can always switch back to the old one and it will start from where you left off last time. So switching processes allows you to switch from one business process flow to another. The other thing that you can do with processes is you can abandon a process, and when you abandon a process, the business process flow is aborted and becomes noneditable. Please note that you can always reactivate it, but once it is aborted, it will no longer be editable, and the last thing is to finish. So it is only available when you are at the last stage of the business process flow, which is close.
So if you are at the closed Business Process Flow stage, then when you click Process, you will see this Finish tab. If you are in the middle, like if you are in Develop, and when you click on Process, you will not see this Finish button, right? So it is only available in the last stage, and it allows users to finish the business process flow for that particular record, and then only the total duration spent on a specific business process flow for a record is calculated. Please know that if you don't click "Finish," then the system will not calculate the total duration spent on a specific opportunity. So that's the basics of business process flow: what exactly the opportunity is, what is available out of the box, and the different things that you can do with the business process flow. Let's see how we can create opportunities in Dynamics 365.
So there are multiple ways you can create an opportunity, and the first one is by creating it manually. So you can use both the Quickcreate option and the main form here. or an opportunity can be created by qualifying a lead. So you must have seen in the previous story that when we qualify a lead, it is automatically converted or it creates a new opportunity, right? And the third one is converting activities into opportunities. So these are three one. So, let's see how you can make the first one by hand. So you can create it using the main form. So you need to click Opportunities from the site map, and then click New to create a new opportunity. Alternatively, you can use the Quick Create form. So you click on the plus sign, which is new, and then you click Opportunity. So let's see how you can do that. All right, so here I am in Dynamics 65. Let's look at some possibilities. And now, let's open some doors.
So here, you can see all the opportunities. These are the open opportunities. It means that throughout the organization, many opportunities are available. If you have permission to see that, then you can. If you want to see all opportunities with respect to whether it's closed or open, you can see all the opportunities here. You can also see closed opportunities, which are either closed as one or lost. So that's something you can see here, as well as if you want to see your own opportunities that you may be working on.
So you can just go to my OpenOpportunities page and see what's available. So you will see that, similar to the leads, you have different views, and each view will have a different column. So this is called a list. You can also see charts. So you can just click "Show chart" for each specific view and you will see the data. So if you are in my open opportunities, you will see this because of my open opportunities, and my chart will also show a similar thing. So you can see multiple charts here. So to create a new opportunity, you can just click "New." And this is how you can generate opportunity from the primary form. So by default, you will see the new opportunities created, and they are using the opportunity sales process.
Okay, we can see we have still got four stages, but it is a different process that we see in the process where we start with lead. So here you can define the topic so we can start looking for MB training, and who is the contact? You can select that contact and the company name here. You can simply save the purchase timeline, budget, purchase process, or any other description. So you can either enter the information according to your needs or follow the process flow. So when you click on qualify, you can see we have identified these three things. If they have an estimated budget, you can mention it here and begin the purchasing process. We identify the decision maker and the capture summary, and once you do this, you can just save it, and then you can move to the next stage. So to move to the next stage, you can just click next stage, right?
So the next step is to identify stakeholders and competitors while also understanding customer needs. So once you are in the development stage, it means that the customer is qualified, the prospect is qualified, or this opportunity is qualified, and then you need to understand and have a conversation with customers to know exactly what they are looking for. So the customer needs NAB training for 15 countries on the finance module. This is just an example, so the proposed solution can be budget-conscious, but it is recommended to go for what's your training? And then you can just press Control-S, and it will be saved. So here you can see that once you enter the information in the business process flow stage, you will see that it is populated here as well as the current situation.
You can also mention that by understanding the customer and the challenges they are facing, it will allow them to talk to you and understand how you can help them. So an example of a constitution can be that a lot of NAV users are making mistakes, entering financial data incorrectly, and facing challenges in bank reconciliation. So, depending on the opportunity type and the customer requirement, it is critical for a member of the sales team to comprehend the situation they are in. As a result, it is simple for the sales team to understand what the customer requires and what solution you can offer. So that's how you can create an opportunity manually. Now, we'll discuss the other sections in subsequent videos, so for now, I just wanted to COVID this qualify and develop stage, and in subsequent videos, I'll show you the different stages and sections that you can use in an opportunity. So that's how you can create a main form.
As you can see, you can start from scratch. Another option is to create it by clicking Create. You can click on the press sign and then click opportunity, and here we can mention something so similar to the lead: you can also create opportunity quickly. As a result, lead MB-210 training is item-based, whereas service-based training is item-based, with the contact account and any contracting unit. If we are following, then you can select that here. It's not mandatory to select the budget that they have, what is the estimated revenue that we are expecting from this particular opportunity, what is the estimated closing date, and any customer needs. And we can just click "Save" and "Close." And once you save and close, the record will be created, and you can click View Record to see that particular record that is created.
You can change the status of an opportunity by selecting whether it is in progress or on hold. If the discussion is going on and you feel that it's moving forward, you can continue to keep its status as "in progress." If you think that the customer is not responding or taking a lot of time, then sales team members can decide to keep this particular opportunity on hold. So that's how you make it using the quick create option. The next way you can create an opportunity is by converting an activity. an opportunity, for example, an email activity, as you can see below. So we'll talk about that and other activities that are available that you can use to convert an opportunity into a task, phone call, appointment, etc.
So you will see a lot of activities available, and you can convert those activities into an opportunity. From all these sections, like we have seen in Lead, we can convert it only from email activity, but for Opportunity, we can convert it from other activities as well. So this is an example of an email. After receiving the email, you can click Convert to and Opportunities. Then it will populate the customer name, select the default currency, and then you can choose to open the new opportunity once it is created and change the status of the existing task. In this case, it means sending an email to finish it. Okay? So once you do that, it will be converted. So let's see how you can convert an activity into an opportunity. So I'm in Daniel Mix 365, and we're going to activities. From here, you can convert any activity into an opportunity. So for that, you can open a particular activity.
So in this case, we have opened the task, and then from there, we can click Convert to Opportunities. So it will ask you for the same information. It will ask you to select the customer because this is not an email, it is a task, and there is no customer associated. That's why you have to select a customer here. So you can choose the customer, open a new opportunity once it has been converted, and change the task of this to finish it. If you have selected any campaign, you can answer yes or no and close the relatedcampaign response. So we can just click "convert." So the opportunity is created from that particular task, and this is the task that it was, and all the information that we selected is populated, and then you can capture all the other information as per your requirements. Let's go to activities.
Similarly, you can do it for a phone call. So from there, you can click "Convert Opportunity," and in this scenario, you will see that the customer is automatically populated, right? Andrés has been contacted. Everything else remains the same, and the same thing can be done with the email as well. So you can open an email and convert it into an opportunity. So you'll notice that the lead is only available for emails and not for other activities. So you can convert here, and you will also have the customer defined. So you can create an opportunity three ways. One is that you can create it from the main form by clicking "New" under the opportunities. The second is to quickly create a record from the quick create option of an opportunity, and the third is to convert an activity into an opportunity. Before we close, I just wanted to show you one more thing about the Process Flow. So let's open this opportunity, and here you can see you have this business process flow, so in the process you have options to switch processes or abandon it.
So when you click Switch Process, it will show you all the processes that are available for the opportunity entity. So right now, you can see only one. However, if you have created a new business process flow for an opportunity based on a different product or sales process, you can select that and click OK. So when you click OK, the new business process flow will be activated, and this business process flow will be put on hold and go into the background, but you can always switch back to the same business process flow by clicking Switch Process and selecting the old one okay, and you will start again from there. Also, when you see "propose," if you move to the next stage, you are in a closed stage, and when you click "process," you will see this "finished" option here. You also have the option to abandon this process. When you click Abandoned, it will abort this process, and you will no longer be able to use it. If you want to reactivate it, you can do that by clicking Process and Reactivate. So that was basically about the business process flow and the different actions you can perform on a business process flow. So that's it for this video, and I'll see you in the next video tutorial.
2. Track Stakeholders and Sales Team
Okay, so welcome to this tutorial. In this tutorial, we will discuss how you can track stakeholders and sales teams in Dynamics 365. So in the previous video, you learned how to create opportunities and the different ways you can create an opportunity. So let's move to the next stage where you can capture stakeholders and sales team members in the Dynamics 650 opportunity. So first, let's talk about stakeholders. So to win an opportunity, the sales team must keep track of stakeholders that belong to your clients or your prospects' companies. Okay? So these are the people who may directly or indirectly be responsible for, influence, or play an important role in closing an opportunity or moving an opportunity towards a closure, right?
So to win an opportunity, the sales team must care to know who is going to take a decision and all the stakeholders involved in the opportunity. So, you can keep track of stakeholders for an opportunity, and you can add them under the Stakeholders subgrid. Stakeholder is a connection role category. So when you create a connection, you need to select a connection role category, and "stakeholder" is a category. So many connection rules can be found under the Stakeholder category. So some of them are champions, decision makers, end users, economic buyers, stakeholder influencers, and technical buyers. So these are the different connection roles available out of the box for the stakeholder category.
And you can also modify them and add new stakeholders. So for an opportunity, you can see that under the Summary tab, you will see a subgrid of stakeholders, and there you can define stakeholders for an opportunity. So let's see how we can do that in Dynamics 365. All right, so this is an opportunity that we created. We had a lead, and then we qualified the lead, and this opportunity was created, right? So you can capture more details in different opportunities. Now you can see it is in the development stage, where you can define the customer needs and propose a solution. So that's something we've seen in the previous tutorial. In this tutorial, you will learn about stakeholders and competitors.
So, for an opportunity, you can see a subset of stakeholders on the right hand side. As a result, John Jay is an influencer, while Robert R is a stakeholder. Right? And if you want to change Robert R's role, perhaps to make him the decision maker, simply click on these additional options, the three dots, and then click Edit. And here you can change it to "decision maker," and it should be "stakeholder." and you can just save it. And you can click back like this, and you can define all the people that may influence—either directly or indirectly—the move of this opportunity to the next stage, right? So here you can define if you want to see all of them in one place, you can go to Related, and you can click Connections. and here you can see the links.
So you can add more if you want. You can add them here, or you can add the stakeholders in this subgrid. So let's click on any one of them. So let's click, for example, on Influencer, right? As a result, influencers and stakeholders share the same role. Like this, you can add more connection roles as per your requirements. That's how you can define one or more stakeholders for an opportunity. And once you have finalised the stakeholders, you can just click here, mark this as complete, and click Save. As a result, this activity has been completed during the development stage. Let's see the next component. The next component is opportunity. Sales team. Now, it is a very common scenario where more than one salesperson is working on an opportunity. Sometimes a group of people work on an opportunity, right? So you can add multiple Sales Team members, who are users in Dynamics 65, and you can add them to an opportunity from the Sales Team subgrid.
Now, this is the default out-of-the-box subgrid given by Microsoft for the Opportunity entity. As a result, sales team, like stakeholder, is a connection role category. Account manager, territory manager, service professional, sales professional, industry expert, delivery professional, and technical sales professional are the available connection roles under the sales team category. Similarly to stakeholders, you can modify and add new SalesTeam roles to meet your needs. So that's how you can do it. Let's see that in Dynamics 365. All right, so on this opportunity, on the righthand side below, you can see the sales team. One of the advantages is that when you add a new connection, you must select the user or member of the sales team who will be working with the opportunity's owner. For example, we can add Christy Cwill's work by simply clicking Add.
So Christy C. is added as a sales professional. Now, if you want to change the role, similarly, you can do that; you can click Edit. And here, you can change the role. So, perhaps you can say that it is an account manager from the sales team, click Save, and then return. And here, you can see that. Now one of the things that you will see in SalesTeam is that when you add a Sales Team member to an opportunity, this user will also have access to this opportunity. So the owner of this record has a better mindset scenario.But as soon as I enter or add Christie to this opportunity, then she will also get access to it, and she can modify and make changes, right? So this is a good way for your sales team members to collaborate, work, and complete an opportunity toward closure. So you can add one or more members of the sales team to an opportunity. So, when Chris logs into Dynamics 365, we'll see what the impact is. So, I've logged in as Christie, as you can see here. And now I'm off to Opportunity, where I need to connect with my contacts.
So when you click on my connections, she will see the opportunity that has been shared with her or that she has been added to in that opportunity. When she clicks on that, she will be able to see and make modifications. So Christy can now work with Abe Sharma on this particular opportunity, and once the work is done, Abe can remove Christie from the sales team. So let's go back; let's click back here, and right now you can see it's under My Connection. So let's remove Christie from this opportunity. Click to delete the connection. Yes. Let's go back and refresh. You will see that it is gone from here. So that's how you can control access as well. And also, you can add multiple salespeople to work with you on an opportunity. So that's how you can manage stakeholders and sales team members in the Dynamics T65 opportunity. So that's it for this video, and I'll see you in the next video tutorial.
3. Create and Manage Competitors
Alright, so welcome to this tutorial. This course will teach you how to create and manage competitors. So one of the important components of winning any sales opportunity is to keep track of competitors and create strategies so that the organisation can win against their competitors. So every company wants to win deals against their competitors, right? And it is very common to have competitors in business. And this is one of the important things: if you have competitors, then companies can improve their strategies, improve their work, and give better service to the customers so that they can buy from them and not from the competitors.
So companies can capture competitors inside Dynamics 365, and they can get insights into their wins and losses against competitors. And such insights can really help organisations create strategies to win against competitors. So you can add competitors to an opportunity to keep track of their strengths and weaknesses and when they are available. And competitors can also be associated with products and sales literature. So that's how you can see that there's an opportunity to add or attach competitors against which a company is competing, right? So let's see what we can do in terms of creation and management. So you can create competitors under the "Competitors Entity," and you can update their profiles, including their strengths and weaknesses. And this is useful in creating strategies. and that's what you can see here.
So we have competitors; in this example, we have Carter Electronics, and we have mentioned what their strengths and weaknesses are. And you can also check Win, Loss, or Open in the Opportunities tab. So when you click on the Opportunities tab in a competitor record, you will see all the opportunities that a company is competing against a competitor for. And also the charts, which can really give insights. So let's see that in Dynamics 365. All right, so here I am in Dynamics 365, and you can find competitors under the Sales section. So click on the competitors. And here you can see all of the available competitors. So we can just open an existing one. And this is the one we have, like Carter Electronics. And this is the website. So you can define which currency they deal in, what the address is, everything. And the most important section is what their strengths and weaknesses are. This can help organisations a lot.
You can also specify their ticker symbol and reported revenue so you know exactly where they stand. When you click on "Opportunities," you will see all the opportunities that your company is competing against them. And here you can see the opportunities in the current fiscal year by status. So currently, all of them are open. So let's go ahead and close one of the opportunities just to see how it works and what kind of information we see. So you can see on the right hand side that you have a competitor for this opportunity. So we can just say, for example, let's close it as a loss because it was outsold, actual revenue was lost, and the competitor is Card Electronics. You can put a description and click OK, so this opportunity is closed. We can go to this competitor again and click on opportunities. And here you can keep track of how we are performing against a competitor.
So one lost and six are still open. If you want to see more details, you can just click on this view records button and it will show all those records or all those opportunities. Plus, you can also associate competitors' products and sales literature. So you can click products, and you can associate products. Here, there might be a possibility that a company is competing against a competitor for specific products and not for all products, right? So this can help organisations be very specific and create strategies around products for a specific competitor. Similarly, you can attach it with sales literature so that when the internal sales team is working on an opportunity, they can have competitor-specific documents that can be really helpful in closing the deal, right? And you can also see the leads associated with this competitor. So, when you click on this specific lead, you'll see it on the right side.
So, if you want to create a new competitor, you can simply click "new" to do so, and you can also use the "create competitor" option to do so, correct? So that's how you can create it, and you can attach these competitors in a portrait. So we can click on "open opportunities" and let's select the opportunity that we are working on, and here we can add that competitor. So just click "Add existing competitor electronics" and maybe a couple more times, "Add." So maybe we are competing against these three competitors. So this is just an example. So that's how you make competitors, use them on opportunities and other entities like leads, and associate them with sales literature and products. So that's it for this video, and I will see you in the next video tutorial.
4. Add Product Line Items to Opportunity
Alright, so welcome to this tutorial. In this tutorial, you will learn how to add product line items to an opportunity. So in the previous videos, we discussed different ways you can create an opportunity. Then, in the qualify and develop stages, how to fill in the details, as well as understanding the customer's needs as well as those of stakeholders, competitors, and sales team members. Now it is time to add products to the opportunity. So a company can know how much they can expect to earn or the estimated revenue from an opportunity, right? So let's talk about that. So after completing all the details in Summitab, you need to add products to the product line items, and these are the items that you are offering to your prospect or customer.
Okay? And it is mandatory to select the price list before you add any products. If you don't do that, then the system will not allow you to add products to the opportunity. So we'll discuss more about products and price lists in the upcoming tutorials. But our focus is right now on understanding the entire cycle of opportunity, so you understand all the components. So after you select the price list, you must select the type of estimated revenue calculation type. It can be either. User provided. It means that the user will enter the estimated revenue manually. And the second option is system-calculated. And in this scenario, the system calculates estimated revenue automatically as per the product line items that you have selected for the opportunity, right? So when you select "User-provided," you can enter the estimated revenue manually.
And if you choose "System calculated," then the system will pick up the extended amount of the products that you have selected in a line and will display that as estimated revenue, plus the estimated revenue field becomes non-eligible. So let's see how we can do that in Dynamics 365. All right, so here we are. Now we are on the same track, and right now we're in the development stage. We have completed all of the requirements. Now it is time to add products. So first, you need to select the price list. If you don't select the price list, you will not be able to add products. Okay? So select the price list. So let's select our preferred customer. Now we'll discuss how it could create a price list, why to create a price list, and different things in the coming video. But for now, you just need to know that price lists allow you to define pricing for different products for different customers. Okay? So once you do this, just click "Save." The following option is to have either system calculated or user provided revenue. So when you select "User-provided" when you click here, you will see that the "estimated revenue" field is editable.
Okay? So you can add an amount here, for example, $15,000, and let's select the estimated close date as well. And currently it is in progress, so let's save it. So you can see that there's no product added to it, but still we have 15,000 extra metres of revenue. So this is a good option when you are not sure how much you will charge for each product, like line-by-line items, but you know how much you can expect or how much it will cost you to deliver this kind of project to your customer. As a result, you can manually enter estimated revenue. But if you want to derive it from the products that you add to the product line items, then you need to select these two system calculations. Now the estimated revenue becomes zero, and it becomes noneditable.
Okay? So let's save it and add two products. So this is corporate training for ten employees. Let's click "add product," and we will select existing products. So if you change it, it will be right in the product. So products that are not available in your product catalog can be entered here. You can, however, select existing products if you already have a product defined. So it is Business Central Training and Finance, and the unit is automatically selected, plus whatever the price you have given for this existing product for that price list, this will populate automatically.
So if you want to keep this at the same price, then you can change the pricing model to use default, and this becomes non-editable in case you want to override the price. That means whatever is mentioned in the price list item will be ignored, and you can manually add it here. For now, let's keep it default, and we are expecting to train about ten employees, so we just put the quantity as ten, and you can enter any discounts or text as per your requirements. We can just save it. Let's go back. Here we have this product added, and you will notice that the estimated revenue is also populated. Let's have one more product, and this time we are going to add it right in, which is nothing but the installation.
For example, installing the virtual environment would cost $100 in setup fees. Okay? And this will be the price per unit. So, how much will the fee be—$15 on there—and is this a one-time or recurring fee? So you don't need to change the quantity; you can just keep the quantity as one, and we can save it and go back. So you have business central training finance for ten employees, which is a thousand five hundred dollars, and a business central environment setup fee, which is a thousand five hundred dollars. So the total estimated revenue is $13,500. So that's how you can add products and services and the right end products to an opportunity, and it's important to select the right revenue type calculation. So the system calculates or the user provides based on the requirement the user can select. Alright, so that's it for this video, and I'll see you in the next video tutorial.
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