Streamline Your Workflow with Crm Opportunity Management for Accounting and Tax

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thank you welcome trollblazers to today's tutorial where I'll be showing you the difference between a lead and an opportunity a lead is a person or company that might be interested in where your business offers beat a product or a service you're considered a sales Prospect opportunity is a specific sales deal being pursued including the estimated dollar amount the opportunity record will be related to the lead or contact record of the person with whom you're hoping to do business with using the standard business process of Salesforce a lead eventually branches into an opportunity since a sales Prospect needs to have a sales opportunity to go with it can be converted into contacts accounts or opportunities so let's see what that looks like starting from the lead page in your own organization we can click the new button at the top right to create new lead [Music] here we can fill out various bits of information related to the leading company for which they work for or represent every field here can be customized so your own organization might look a little bit different you might have some fields that are required as part of the business process or some fields that you might not even need let's go ahead and fill out some of those important ones like the required ones marked by the red star and some other important ones that we might need for later on starting first with the name let's go with something simple John Smith phone number perhaps maybe even a mobile company that's always important email that's important then we have lead Source down here so you can specify exactly how you acquired this lead Source perhaps it was through the website maybe a phone a referral maybe some kind of purchase list or other discuss this list can be customized ing to your organization so you might have more options website that might be important too for now we'll just leave it blank delete status so this lead status is how the lead is going to progress as you work on this lead by default it starts off with open continues on to working and then it ends enclosed either converted into a full-fledged contact account and opportunity or maybe things didn't quite pan out with this lead so it'll just go to not converted for future use or maybe just for records for company records they have different regions this one is for where your customers based maybe Latin America North America perhaps Europe Canada again this one this list can also be customized as need and then finally we have lead currency this is going to come into play later as we look at the opportunities because opportunities are sales inherently and because they're sales they will have some sort of currency amount attached to them in this case being dollar amount right now in my organization all I have are dollar amounts but this can also be customized to add in any Northern currency that your company might actually need or use oh we'll just go ahead and hit save for now after creation we're presented with the lead record page where we can see all the information which is input this is important because it'll be used later on once the lead is converted into a full-fledged customer from here sales reps can follow the sales process set up by the organization to try and convert this lead by default it starts off with open working and then closed either converted or not converted as mentioned earlier from here we can add additional information that might be useful for the company once this lead becomes a full-fledged customer but for now we're just going to go ahead and hit convert at the top right to try and convert this lead into an actual customer here on the convert page we're given the option to either create a new account contact an opportunity or add this lead to an already existing account contact or opportunity for this demonstration we're going to create a new account contact an opportunity so we can go ahead and just click the convert button at the bottom success our lead has now been converted and we're presented with a new screen showing the three new records that have just been created for right now we're only interested in the opportunity so let's click that and see what it looks like if we click on the details section we can see some of the information that was already in the leads Page Plus some new fields that have been added for more personal and business information opportunities form what is called the sales process and every company will have a different one that can be followed step by step into What's called the opportunity stages these stages can be clearly seen at a glance here at the top and they move one by one as the sales process develops all the fields within the opportunity as well as all the related records on the right are highly customizable to figure companies business needs these records here include products your company might sell notes and attachments which can be used to store any important documents related to this opportunity contact roles which is by default the lead we just converted Partners which is useful for adding a relationship between two customer companies stage history for keeping track of any changes in the sales process approval history for keeping track of any approval set up by the administration and finally we have opportunity team to quickly see what other sales reps are working on this opportunity so that's it to summarize for most companies the majority of leads do not turn into sales but when those leads that do turn to sales they always have enough associate opportunity to go with them to represent them the important difference to know here is a lead is an unqualified person or company but by working on said lead could eventually turn into an account a contact or opportunity sometimes even all three and opportunity is the actual sale that is tied to that new customer whether it be a product or a service the process follows a set path within the opportunity known as the sales process which is different for every company thank you guys for watching and let's keep blazing the trails ahead [Music] foreign [Music]