Problem: Companies or products can serve multiple industries. You may want to group Opportunities for specific industries to see how a specific sales team is performing, or it may help you see which industries need more help versus which are thriving.
Solution: In Setup, create a new Object named "Industries."
You may want to populate Industry records if you have a predetermined list (such as NAICS and SIC codes), or you can use Lookup Helper's "create new category records" functionality to add new Industries as needed. Then create a lookup field on Opportunities named "Industry."
In Lookup Helper:
- Choose Opportunities as the child object you want to maintain the relationship on
- Select the newly created Industry lookup field
- You want to match records when the child Opportunity field "Industry Lookup" matches "Industry Name"
- Optional: Allow "create new category records" if you would like Lookup Helper to create new Industry record types. If you have a specific list you would not want to change, then leave this disabled.
- Save and run your setting
Now you can create reports to see how certain Industries are performing! This could direct your business into going all-in on a successful Industry, or trying something new to help out Industries that aren't buying from you as much.
