Everyone needs a little help every once in a while – so we put together a series of Salesforce Cheat Sheets, with our first one focused on Accounts and Opportunity classifications. Don’t worry we won’t tell anyone you cheated…and look for more Salesforce cheat sheets from Forcivity!

Step 1

  • Create a Roll-Up summary field on the Account record (e.g. AcquistionDate__c) summarizing the Opportunity object 
  • Set the field to aggregate the Opportunity Close Date with a summary type of MIN
  • Set the filter criteria to fit what your organization qualifies as a won deal (Stage = Closed Won)

Result:  You can now report simply on customer acquisition and CLTV.

Step 2

  • Create a formula (text) field on the Opportunity record
  • Set the formula referencing your newly created Account.AcquisitionDate__c field, as shown in ex1

Result: You now have a field that consistently and automatically classifies your opportunities as new or existing business.

Step 3

  • Create a formula field on the Opportunity record similar to step 2
  • Set the formula referencing your newly created Account.AcquisitionDate__c field, as shown in ex2 

Result: You now have a field that consistently and automatically classifies your opportunities as new or existing business, including logic to consider the first year of orders to be new.

ex1: IF ( OR( ISNULL(Account.AcquisitionDate__c),CloseDate <=Account.AcquisitionDate__c ), “New”, “Existing”)

 ex2: IF ( OR( ISNULL(Account.AcquisitionDate__c ), CloseDate <=(Account.AcquisitionDate__c +365)), “New”, “Existing”)

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