While the lead and the opportunity object in Salesforce have a "status" field that reflects where they are in their life-cycle, the account object has no such field out of the box. However, in the account-based sales world, it is key to understand the current status in order to orchestrate all involved stakeholders (marketing, SDRs, AEs, etc).
Groove can automatically detect the account status by analyzing opportunities, as well as open activities and the activity history. The status is automatically evaluated every 3 hours and surfaced in the field "Inferred Status" on the account object. This field is a formula field that combines the values on the fields "Account Tags" and "Engagement Status" into a single value, using a specific logic. You can create your own formula field in order to customize the logic behind the account status. Your own formula field could use the fields "Account Tags" and "Engagement Status" plus other custom fields that are indicative for the status of the account.
The field Account Tags is a multi picklist field that can include these values:
- Untouched: There are no activities or opportunities on the account.
- Cur. Effort: There are activities, indicating that the sales team is currently reaching out to the account, trying to generate pipeline.
- Past Effort: There are activities that indicate the sales team was reaching out in the past but there was no recent effort. The threshold between "current" and "past" is 13 weeks by default but can be configured.
- Meeting Scheduled: There is a meeting scheduled
- Meeting, no Opportunity: There was a (qualification) meeting and you would expect an opportunity should have been created - but there is no opportunity. This could mean, the account was disqualified or the sales rep forgot to create an opportunity.
- Open Opportunity: There is an open opportunity on the account.
- Lost Opportunity: There are only lost opportunities on the account.
- Current Customer: There is at least one Closed Won opportunity and the field "Churned Customer" is not checked. That must be an existing customer.
- Churned Customer: The field "Churned Customer" is checked. This field is part of Groove and can be set to true according to your business process when a customer churns.
The field engagement status indicates how the customer has engaged as a result of your outreach effort. It can have these values:
- No engagement
- Past Engagement
- Recent Engagement
The threshold between "past" and "recent" is 13 weeks by default and can be customized.
Engagement is indicated by a customer opening an email at least 3 times (that value can be customized) or replying to an email. A phone call is considered an engagement if a conversation happened.