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Adding Macro Estimates to an Opportunity

At an early stage in the process of making a sale, a sales representative typically tries to find out how much the customer is willing to spend for the full event and also how much the customer is willing to spend for each day during the event. The sales representative can either estimate the amount from previous experience or can talk to the customer to get approximate values. Estimates are based on the expected revenue and number of attendees for a particular revenue category.

The information entered at the opportunity stage is passed to the quote when it is generated. The Macro Estimates are relevant until more detail becomes available either from average values or actual line items. However, if these details do not become available, it is possible for the sales representative to use the macro estimates instead of revenue estimates for the quote.

Macro estimates can be added for both participating and nonparticipating properties.

This task is a step in Process of Capturing Hospitality Opportunities.

To add macro estimates to an opportunity

  1. Navigate to the Opportunities screen > Opportunities List view.
  2. In the Opportunities list, query for and select the opportunity.
  3. In the Opportunity record, click the link in the Opportunity Name field.
  4. Click the Macro Estimates view tab.
  5. Perform whichever of the following tasks is appropriate for your needs:
    • To add all revenue categories to the Macro Estimates list, click Populate.
    • To add a specific category to the Macro Estimates list, create a new record, and select a revenue category in the Revenue Category field.

      The Parent Revenue Categories for each Revenue Category is populated to the Parent Revenue Category field.

  6. Enter a Total Revenue estimate for the opportunity, and an estimate for the Total Expected Employees.

    The Total Revenue - Per Person is automatically calculated when these two fields are completed.

  7. When you are satisfied with the Total Revenue and Total Expected Employees values, click Allocate.

    The day estimates for the category are generated and displayed in the Day Estimates list. The number of days for each opportunity is equal to the number of nights plus one day, because, for example, an opportunity that is booked for four nights spans five days in total.

    The following two fields are automatically populated:

    • Calculated Average Check. The average cost to be spent on the selected category on each day of the opportunity. This field is calculated as follows:

      Total Revenue / (# of Nights + 1)

      NOTE:  This figure is rounded to the nearest unit of currency.

    • Calculated Total Revenue. The sum of the average costs for each day of the opportunity. This field is calculated as follows:

      Calculated Total Revenue = Sum of all Day Estimates Revenue field

  8. (Optional) Scroll down to the Day Estimates list to make any desired changes to the existing estimates.

    The values are rolled up to the macro estimate for the revenue category.

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