If you have a lead that has yet to be confirmed, MagManager allows you to create a provisional booking.
The Provisional Bookings feature is a powerful tool to help you forecast sales and manage your sales pipeline.
To provide a sales forecast, it can be useful to use probability for unconfirmed bookings to estimate your revenue. MagManager enables you to put in a percentage value for the likelihood that a booking will be confirmed. For example, a booking “likely” to be confirmed would have an 80% likelihood, a booking that will “perhaps” be confirmed would have a 50% likelihood.
MagManager can then work out your projected revenue based on the likelihood that your bookings are confirmed.
For example, suppose you had three bookings available for £100 each. One of them has been confirmed, one you provisionally booked as “likely” (80%) and the other you provisionally booked as “perhaps” (50%).
You would have a revenue estimate of £100 + £80 + £50 = £230.
If you use provisional bookings, then on the Dashboard (Home screen) you can now see the total booked for your current publications, and also a forecast based on your provisional bookings.
In the example below, we have 5 provisional booking valued at £1375.00 with a percentage likelihood of 56.55%. The “Expected Amount” for provisional bookings is therefore £777.50, and in the final pink column the “Expected Amount” £1232.50 for the publication is the sum of the total booked £455.00 (confirmed) plus the £777.50 estimate from provisional bookings.
Clicking on the number in the Items column will open the Provisional Bookings tab - with details of each provisional booking.
Setting up Provisional Booking
- Enable Provisional Bookings on your system
Go to System Settings > Under Settings > Click System Defaults.
You can then switch on “Use Provisional Bookings”.
Remember to click the blue Update button.
- Set up your own provisional percentages (Optional)
You have the option to put in your own percentage values for provisional bookings.
Go to Settings, and in the Publications & Bookings section click on “Provisional Percentages”.
Click on one of the default values to open the dialog box to enter your own settings.
Creating Provisional Bookings
- Choose a client and go to that client’s bookings tab.
Click on the + symbol next to the required publication.
You will now have a new pink row labeled TBC for provisional bookings.
- Choose the issues you would like to book
Click on “Click to book” for the required issues in the pink TBC row.
Then click on the green “Complete booking” button.
- Set up the booking in the usual way
This time allocating a percentage likelihood under the “chance…” dropdown menu
Click the blue “Save Booking” button.
- Email details of the provisional booking
From the client booking screen click 'Send Email' > The email preview screen will open ready to send the email as normal with details of the provisional booking.
You can edit the Provisional Booking Confirmation Template by going to System Settings > Under Admin > Select Document Templates > Under System Documents > Select Provisional Booking Email.
Note: The pop up with the dropdown box will only appear if you have multiple Booking Confirmation or multiple Provisional Booking email templates set up, simply choose the template from the dropdown list and click select > the email preview will open as normal.
- Confirming bookings.
On the clients booking tab, you can see provisional bookings in pink.
To confirm a provisional booking, you can either click on the move icon and drag and drop the booking to the required publication row.
Or open the provisonal booking and click the purple confirm button on each issue row. Or if it's a larger booking you can click Confirm All at the bottom of the screen.
Viewing & Keeping Track of Provisional Bookings
Select Bookings from the top navigation bar > Select the Provisional Bookings tab > Select the required publications & issues from the side bar > The provisional bookings for those selected will be displayed.
NOTE: The provisional booking tab will only be displayed if you have provisional bookings in the issues selected.
Once confirmed the booking will move to the Converted Bookings tab
The home screen also displays the total of the provisional bookings for the publications & issues selected in pink below the confirmed bookings.
Clicking on the number in the Items column open up the list of provisional bookings tab with more details about each provisional booking.