MS CRM 4 Notes

December 24, 2011

CRM 4.0 Concepts: What are Leads, Contacts and Opportunities?

The thinking behind separating Leads and Contacts in Microsoft Dynamics CRM is to separate the unqualified sales leads from the qualified sales opportunities. The goal is to keep your sales team from spending time on disinterested leads, and focusing on getting real results for your Sales Pipeline report.

CRM Leads

  • Contacts or companies that are essentially un-qualified sales leads. In general, there is no current or past relationship history with these leads.
  • CRM Leads should be qualified as a potential customer before they are “promoted” to a CRM Contact and/or CRM Opportunity.
  • CRM Leads are NOT synchronized with the Outlook CRM Client, therefore they will NOT be listed as Outlook Contacts. Leads can only be managed via CRM.
  • Examples:
    • Web visitors who had submitted a website questionnaire, and additional follow-up is needed.
    • Imported contacts from a third party list.
    • Business cards procured from an event or tradeshow.

CRM Contacts

  • In a nutshell, CRM Contacts are the people that your company will have or already has an on-going relationship.
  • CRM Contacts typically had been qualified as a potential sales opportunity at one point. Contacts may also have different types of relationships with your company, such as a vendor.
  • CRM Contacts are synchronized with the Outlook CRM Client, therefore their contact information can be available in your Outlook Contacts.
  • Examples:
    • Existing Clients.
    • Potential Clients going through the sales process.
    • Vendor Contacts.
    • Any contact where your company has the need to record activities and relationships.

CRM Opportunities

  • The CRM Opportunity signals the kickoff of your company’s sales process with a potential or existing client.
  • The history of Open, Won or Lost Opportunities can always be found in the related Account or Contact record.
  • All metrics related to the opportunity are measured here, such as:
    • Estimated Revenue.
    • Percent Probability of Closing.
    • Sales Stages.
    • Rating (Hot, Warm, Cold).
    • Follow-up activities related to the opportunity.