The Opportunity Report displays your data in a meaningful way so you can understand your sales funnel. Gain insights into what is working well, where there are bottle necks and where you should focus your efforts to increase conversion rates and ultimately settlement volumes.
From this report you can access the following dashboards:
1. Opportunity Generation
Directly pulled from your opportunity records in Mercury Nexus, this dashboard allows you to review lead generation and conversion activities to identify opportunities for growth. From here, you can analyse:
The number of opportunities created each month
Opportunities by transaction type (if they are blank, it means they aren’t classified as a purchase or refinance in the opportunity record)
Opportunities by opportunity type (eg home loan, insurance, asset finance)
Opportunities by current status
Opportunities by lead source
Opportunity amount by lender
Best practice tip. To maximise the Opportunity dashboard, you should assign Lead Sources to your opportunities. You can learn how to assign lead sources here.
Each graph on the dashboard can be clicked on, to drill further down into the data. For example, click on Current Status Lodged, to see the transaction type, lead source and lender amount for all opportunities with the Lodged status.
This report can be filtered by broker, supervisor or admin to allow you to analyse your team’s performance.
2. Days in Status
This dashboard shows the median time an opportunity stays in each status. This is a useful tool to see if you are meeting your SLA’s or if there is room for improvement.
This report can be filtered by broker, supervisor or admin so you can effectively manage your team.
In each data table, you will see a column called Link to Opp. This allows you to go directly to the opportunity record from the Analytics app table.
3. Status History
This dashboard allows you to track milestones and seasonality trends across your business. As well as a month-by-month breakdown of opportunity creation date. You can also see how many opportunities were in each status month-on-month.
4. Home Loan Conversion
This dashboard provides invaluable insights by allowing you to both track conversion across your business, and also see how you are performing against other Connective brokers.
The four conversion metrics include:
Opportunities converting into an application lodged
Applications lodged to Unconditional Approval
Unconditional Approval into Settlement
Opportunities converting into Settlement
The large percentage in the middle is your conversion rate. The smaller bar and percentage is the average conversion rate for all Connective brokers. This is a rolling average updated daily and based on performance data for the last 12 months.
Below the meter, you will see dollar amount increases for every 1% improvement. This quantifies what an uplift in conversion will mean for your bottom line and highlights the areas you should focus your attention on.
This report can be filtered by date, broker, admin, lead source and transaction type.
Using the filters to the left, the bottom table allows you to investigate what applications did, or did not convert.
For example, if you would like to know the percentage of opportunities that have not converted from Approval to Settlement, select Approved = Yes and Settled = No and see what opportunities have yet to settle).
5. Conversion Analysis
Breaks down the conversion report into Broker, Admin and Lender so you can see how your conversion rate are being influenced.
6. Timeframes
Shows your 6 month average turnaround time for applications lodged, application lodged to unconditional approval, unconditional approval to settlement and total time to settlement. This is compared to the Connective broker average.
Please note: Your definition of an opportunity is unique to your business and may not be like-for-like with other brokers. We pull this data from opportunity records in Mercury Nexus.
7. Turnaround times by lender
Compare each Lenders turnaround times with this dashboard. With similar functionality to the Lender Approval Times Dashboard, you can see the turnaround times for your business. This is a useful tool to see what lenders are working well and others that may areas for improvement in regards to submissions.
8. Opportunity Data
Summary data table of all opportunities so you can refer to all your opportunities from the dashboard.
9. Opportunities with Settlement Date
This dashboard expands on Settlement Report, by further allowing you to see your settlements by transaction type, lead source and lender.
10. Status Comparison
This dashboard shows the flow of an opportunity through statuses, so you can see how many opportunities have converted at each status.
For example, you can see how many conditional approvals turned into settlements, or how many leads turned into documents requested.
