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[Music] hey guys it's Miriam Floria and I often get asked what the difference is between a lead and an opportunity in CRM so let's dive into that today so Ally is actually an unqualified contact or company count whatever you might call it that's in your system and waiting to be promoted or qualified to move on to become one of the big boys inside of your CRM and so it's really just this data or a list of data that you might have whether you've attracted that information from purchasing a lead list going to a trade show and importing that information into your CRM system or just keying it in however it might be so that lead is sitting inside of there and actually needs to be promoted to become anything aside from a lead so just let's think of leads as sitting in the guppy pond together once I actually make contact or I've qualified the lead however you define that inside of your organization which I think making contact makes sense to qualify them then you want to move them up inside of your CRM and what that normally means is that you need to turn that lead into an account or customer or company whatever your CRM refers to that larger entity as or that main entity and when you convert it you're then able to create an opportunity so what's an opportunity the lead doesn't specifically become an opportunity itself a lead gets promoted to become an account that has an opportunity attached to it so let's say the lead is the mini fish turns into a big fish and that big fish can have sales associated with it or potential sales which are opportunities so opportunities are just the potential sale itself opportunities aren't real humans that were communicating with it's that sale that we might have and opportunities are associated with existing customers for repeat sales you know they're associated with prospects because we hope to make a sale with them someday so there are all these opportunities that could be associated with those records so we want those opportunities to be attached to when that lead gets promoted to an account or company record inside your CRM and to take that sales opportunity and hopefully close it with then in the future create a new opportunity for another sale with that customer attached to the record again so let's just recap the leads are actually unqualified contacts or companies inside of your system once you qualify them they become accounts or companies depending on your CRM solution and those accounts and companies can have multiple opportunities associated with them hopefully this clears up the difference between leads and opportunities join me next time for more information on CRM thanks hey guys if you like this video don't forget to like and subscribe and also check out our other helpful videos on CRM [Music]