Streamline your product management process with lead opportunity management for Product Management
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Lead opportunity management for product management
Lead opportunity management for Product Management How-To Guide
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FAQs online signature
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What is product management opportunity?
Typically when someone talks about an Opportunity, you think of a job opportunity. In Product Management, an Opportunity is slightly different. It is when you recognize a need or a gap that exists that could be solved with a new product or by enhancing a current product.
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What are leads for opportunities?
A Lead is a person who is a sales prospect. An Opportunity is the 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 are hoping to do business.
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What are the five major stages of lead management?
When it comes down to it, there are five major stages in the lead management process: Lead Capturing. Lead Tracking. Lead Qualification. Lead Distribution. Lead Nurturing.
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What are the five major stages of lead management?
When it comes down to it, there are five major stages in the lead management process: Lead Capturing. Lead Tracking. Lead Qualification. Lead Distribution. Lead Nurturing.
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What are the benefits of lead management?
Below are the benefits of proper lead management: Build instant contact. ... Maintain continuous and effective communication. ... Easily access lead information. ... Lead capture. ... Lead tracking. ... Lead distribution. ... Lead qualification. ... Lead nurturing.
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What is lead management opportunity?
On the other hand, opportunity management deals with a qualified lead that is converted into a potential sale. Opportunities are further down the sales pipeline and are actively considering a purchase. Your goal is to convert a lead into an opportunity as it represents potential revenue for the company.
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What is the difference between a lead and an opportunity in CRM?
Leads represent any potential marketable individual or business inside your CRM that is not currently qualified. Opportunities represent leads that are qualified and have the potential to complete a purchase/sale. Lead Stages track the steps a lead must go through to complete a transaction.
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What is meant by lead management?
“Lead management is defined as the methodology, process, and software used to reach prospective customers and convert them into buyers using targeted sales and marketing strategies.” Lead management is essential for companies looking to grow their customer base and reach out to a wide audience.
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since that I wanted to talk about product sense I think we hear this a lot of people I think about it as like a really deep understanding of your user understanding what they like what they don't like what they really really need because users don't know because you I need an X you sort of have to understand what they like and then from that derive what they need and then do love the products that you know Agricole and amazing and bring them like a lot of happiness and I think the big question we have is how do you actually get this it does this it sounds very nebulous right like how do you actually understand this group of Jesus and because I'm really gonna have a little home you look what I like to think about it but for me private sense is the sum of all the user research you have certainly one-on-one talking to yourself and I think about it the Lighting's you have from slightly bigger groups of losses the experiments you Brian knowing what what works or some eases what that's it and then lastly on a lot much larger scale called them economies with their graphics often what there's different demographics of users like link quick not mole if I know my user bases mostly like old and male I can learn more about like what what would cater website on hands but today I think within a focus on is how to write successful experiments because I think this is the quickest we can iterate anyone on like what specifically you are use of these it's going to like what specifically your user base once and like what they reacting to so if we go back to this this is I think it's really important to write a lot of experiments and as many and could be quite helps you build up your process so we're going to talk about two and three in the context of a case study in book P study time so today we're all gonna pretend you're product and it is a Goomba soup exciting so it's your first day this is orientation I'm going to tell you a little about what your job is going to entail and I'll dive into what your like specific really you're draining the driver access team so this team is responsible for two things one is the compliance so ensuring that every driver who joins the platform continues to stay compliant and making sure they abide by all the rules of the platform the regulations I like if at any time but not driver's license expires you have to make sure you address the other side of it is also driving growth which is where we bring on new drivers onto the platform and yeah I'm sure that they are like they meet all the requirements you have and then we're able to and be able to unlock them and make sure that they see everything they need to get about it every week we have about 500,000 people signing up to join the platform I come from all around the world maybe some of nothing so if he said reasonable and all of them have different stories and I think it's a really interesting every time you talk to the chair that could be all have different reasons why - Jim what was really interesting was this team didn't actually exist four years ago in 2012 I don't know if you guys remember way back in the day we were primarily about Casa ovens all drivers had to go and devices so who would actually keep you and Boone to do your chocolate and it was a super high-tech ongoing process so all the Germans would physically go to they would go opposite Market Street up in whichever city looking that they were trying to set up in and they would sign up with an actual person who would denote up all the apartments purpose but really this stop became unscalable really really quick so what happened was we had at some point in common of EA's just spending the entire day stuffing iphones two envelopes that we could mail out to dredges so that the Dragons could get at home we have super long lines upside all offices whatever we've got to do we got to up and go to the point where we were renting out football stadiums to rent during the automotive events because there was such a long lines we could just like what the feasible so we would hold every weekend like a sign update very fun time but of course they're not actually sustainable foot business so what we did was two things the first was bring your own device meaning that we launched the what happened you guys know today with you can sign up on and go on your phone and essentially download an app so we don't have to give you I thought and this has off the period of pretty extreme focus which was quite exciting and has led to the global industry has an effect on today the other thing we did that was really exciting which is essentially this team that we're gonna talk about today is that we unlocked but well on coding forthrightness meaning that instead of going physically to an office to sign up be able to sign up from UFOs like fill all the requirements online and then they can sign up for multiple business lines so you want to charge it is a bike so if you want to direct for eat so I can free I can all do that through that this is like I know basic cities locally and at the p.m. you're gonna be the product manager for the seminal funnel so it's just that now that you've all been going you find out a product that if identified well what do you do next lately you sit down a good team what are the questions you wanna ask them what you want to find out what I have everyone is understanding all my dreams what goals you have review to experience and then look into what dog life is opportunities up but right now increasing centers so this is what the SS final looks like today you after you Malinda sign up you get driver's license the ability of people experience and then you a people inspection so what would be your the top-line metric are your goals but this but it's my hope that you look again prepare for fall off bricks so what we call it a sign up to activation ring so once you actually complete all these steps you actin I guess it's really legally allowed to drive so we're going to call it the site of occupation rate so now and I think what you said is super a little bit because what we want to do next is try to figure out you have a bunch of data so these are you a drop off stats from this what would you like how would you take this data and then try to figure out what you like to do is we we typically do what a bulk at this is how I approach it and what I do this for each step of the funnel I wanted to understand where the biggest drop-off percentage is up and I stop will send ups and they're trying to get back along the process so what we do is map out like what these percentages look like so given these percentages would be a view for us places and then following that probably equal extensions so if we have time we'll do both today to put a driver's license theft what we know is a bunch of people are falling off right here it's days now you can upload your driver's license photos of responses victory of show your drivers like finally and then you can take a photo you think the photo you upload it and then it gets approved in the backend so here's so information we have we have a few people get to the step of like your people submit the photo some people get your photo rejected and these are some reasons why this is what you're telling you so what I'd like to do this is come up with hypotheses for why we're seeing each reasons and then you guys can sort of like call them down and then we'll bring some solutions together okay so any ideas what do you think we're seeing this problem typically when when I run experiments when you run an experiment you want to make sure you have that focus this is really clear because when the native of fact you need to be able to say yes that was true I know it was not true and if you know I thought this this is a little fuzzy then it's hard to actually narrow in on what what the problem was does that make sense like if if for example the things that like my problem if my hypothesis was something like understand what like what's on this screen if the data if I tried a different screen that the data comes back and like this screen did better then I not actually on tonight but what I want to do is wrong piece I bought the seeds I'm gonna come up with really specific things like the example flashes on is a great example since I can then say okay if I add the text please make sure your flash isn't on that immediately and that experiment shows a change and that actually tells me okay I did something right that was a hypothesis that I managed to like narrow a night so I think we put a couple really good examples of what I agree so based on these hypotheses what are the different things that you would try for each one so now let's put together that experiment plan so this is our future how would we describe this is okay and then we have this what would be nemetrix people guess I like how many how many submissions there are versus accepting photos yeah okay this is the granular metric so you wanna make sure that yo like you're onto the hypothesis by looking at this metric but if this goes down and like few people said what in hell you so we did metrics so what we're gonna use is this one so then how will you set up the experiment I'm going to see like how many of the photocell aren't approved up like how many reduce who user error versus the percentage so like and I expected on that so now experiment results okay things didn't go as planned what we do next so we have the percent of approved photos and what we found is that the cinema through photos went up but the number of the number of total projected reasons number of total rejected photos go sit with that this went up and people people set it up uploading so the total number of photos submitted to come I down and but all the people we submitted won't equal doctor so people would benefit and what would we do that was the case that's what we're going to do the equal inspection step so this one's really interesting how it works is that for this step your haven't need to actually in California go to a physical location or mechanics and be a car inspected so they need to make sure that people to working their cars clean neutral and then once they know that they can take a picture of this inspection sheet that the mechanic will give them and that whole like that no agent no proof it so here's a couple these are going to be more new ones but essentially the f6p 5,000 you just get in this step 15,000 visibility here and then of those some percentage of people has issues with the acknowledgment sections because we don't know what happens in between when they exist either step and when they get to our application we wouldn't interview the users that and the top reasons book I didn't have time I forgot to show up I was worried my boss so what do you think I hate father sees me have like bullets user needs that missing bar essentially the problems that we can solve yeah I mean this one one uh somewhat interesting ones is that business like the first one was a pretty obvious example like you know this one's work what do you think evil that site that's I know to drive good enough but for check it out at the last minute because of fears up whatever yeah remember the first time I gave a ride take their Millions I have a second job and juggling a different life I got kids I need to bring the school and I don't have the time if it goes in but this isn't high enough of my career any list I went and wondering this is like the all operates is it greater amongst people that schedule to the app or people vector or people that's used to you to schedule us IBM to problems the feelings and motivations a little significant things you're not going to get you're not going to be able to finance online like what your baseline change it's the answer would be how many represented people actually be motivated or actions about signing up to drive you but what about you is just our testing and then I so good he uses their innocence cooler get me to stop this up so okay so it's not do the same thing when we run it beat me with this at this obviously I think like we mentioned we try to trim down what we want to show it this one so we can really narrow in on the problem I think if I was gonna do it probably I think that this tweet plans a little separately because we do have a hypothesis around we can't be big reason why we think people are skipping else so showing we can should increase it significantly on its own and then this more people so that when you see other people doing the same thing you want to go just a really exciting so proves number of people how much money they made
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