Every sales organization needs new business to grow. Without those new relationships, you’ll eventually fall short of your goals. However, how many sales teams actually know the effort that it takes to obtain that new revenue? How many meetings, calls, emails, or other activities take place to land that business?
New Business Acquisition Activities is the start of understanding the real cost of obtaining new business by automatically flagging your activities as those that were performed in the pursuit of obtaining that new business revenue.
Configuring New Business Acquisition Activities
There is nothing that any user needs to do in order to take advantage of the New Business Acquisition Activities within Monarch.
Activities will be automatically flagged as New Business Acquisition Activities based upon their schedule date set on the activity.
What is a New Business Acquisition Activity?
A New Business Acquisition Activity is…
- Any Activity that, on the date of the Activity, the attached Account was a Lead.
- Any Activity that, on the date of the Activity, the attached Account was a Prospect.
- Any Activity that, on the date of the activity, the attached Account was a Billing Account that has not billed in more than X months (where X is equal to the number of months that must pass before an Account is considered New Business again.)
Example: I have created an Activity with the Account City Bowling Center for April 3, 2024. City Bowling Center has not billed since December 2022. Since the Activity is occurring in April 2024 and my definition to consider the account new again is 12 months, then this activity will be flagged as a New Business Acquisition Activity.
- Any Activity that, on the date of the activity, The attached Agency was a Prospect and no Account exists on the activity.
Notes:
- Activities that contain both an Account and an Agency will only evaluate the Account to determine if the Activity should be a New Business Acquisition Activity.
- Once an activity is identified as a New Business Acquisition Activity it will always remain one with the exception of changing the Account, Agency, or Date of the activity. Reassignments, Merges, and other edits to the activity will not cause the New Business Acquisition status to be re-evaluated.
Activity Reports
Activity Impact Report has been updated with a new option Activities Leading to dropdown in the Other Options section. There are 3 values
- Both – This is the default value and will show activities leading to new business as well as those activities for returning business
- New Business – Represents the activities flagged as New Business Acquisition activities
- Returning Business - Represents the activities performed to maintain existing business.
Activity Expense Report has been updated with a new option Activities Leading to dropdown in the Other Options section. There are 3 values
- Both – This is the default value and will show activities leading to new business as well as those activities for returning business
- New Business – Represents the activities flagged as New Business Acquisition activities. These activities will display with a green dot next to them on the Activity Expense Report.
- Returning Business - Represents the activities performed to maintain existing business.
Activity Report has been updated with a new option Activities Leading to dropdown in the Other Options section.
There are 3 values
- Both – This is the default value and will show activities leading to new business as well as those activities for returning business
- New Business – Represents the activities flagged as New Business Acquisition activities. These activities will display with a green dot next to them on the Activity Expense Report.
- Returning Business - Represents the activities performed to maintain existing business.
Screenshot is from the Activity Report but is indicative of the behavior on each report capable of showing an Activity
Activity List
The Activity List will denote New Business Acquisition Activities with a green dot beside the Activity name. Hovering over this dot will display “New business acquisition activity” to remind you what it means.
A new filter also exists for this as the “Activities Leading To” which displays 2 values
- New Business – These will be the activities denoted with the green dot and flagged as New Business Acquisition activities.
- Returning Business – These will be the activities without a green dot and represents the activities performed to maintain existing business.
