Terminologies

In every business atmosphere, there are certain terminologies which are used such as leads, prospects, campaigns, invoices, etc. Here are few of the terms along with their definitions which are commonly used in sales CRM .

Leads

They are considered as qualified contacts or even sales opportunities in every business. They are part of the raw information which are collected about particular individuals or even people representing any company/firm that have been collected from different trade shows, seminars, advertisements or from any other marketing initiatives. It is a common phenomena that a lead is followed by the sales representative and when they reach the stage of qualification, they get changed into an account, contact and also a prospective client in .

Accounts

They are considered as the firms or departments within an organization with which you are going to engage in business dealings. Sales CRM allows the association of single or multiple contacts to an account. In an usual business atmosphere, accounts have an important role in keeping a close tab about the essential company information.

Contacts

They are the people in a firm with whom your company enjoys business communications to explore business opportunities. These contacts are expected to belong to various other departments in a firm or can be multiple contacts of the same organization. Moreover, the contacts are usually witness conversion from qualified leads, when they are imported from a available list or even if added individually on the basis of the business relationship with the associated firm.

Potentials

They are usually the prospective customers who have the potential to generate real revenue for every company. They go through a series of varied sales stages which are categorized as prospecting, qualification, requirement analysis, value proposition, etc before it finally becomes part of the client list. Leads who display interest in your business can undergo the direct lead to client conversion process. They also display potential sale ability.

Campaigns

In , campaigns offer a valid platform for organizing and also recording the net cost for any marketing initiatives undertaken by the company. It has proven helpful in supporting the different stages such as import of targeted contacts, association of all tasks, events and also the calls related to the campaign. Apart from this, it also offers a detailed view of all the marketing campaigns any client has been part of.

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