What is a Company?
- A Company is an organizational entity that you are either doing business with now, or may be doing business with soon.
- A Company could be a company, school, association, or any other entity that links people together.
- Some common Company fields include, company phone number, address, annual revenue, and number of employees.
What is a Lead?
- Leads are typically generated by Marketing as a result of the campaigns they run, like advertising, events, blogging etc. and then passed over to Sales to follow up and close.
- In ProsperWorks, we keep leads separate to your regular contacts in order to help keep your database clean and well organized.
- For example, if you purchase a list of 1,000 people to call, it's better to have a separate home for them, away from your regular business contacts.
- You are not required to use the Leads feature in ProsperWorks, it's totally up to you.
- Leads are "people of interest." Ideally, you want to capture their essential information with minimal effort, as they are unqualified and you may not know if they are a good fit for your service yet.
- You may find new leads at conferences, or by acquiring a mailing list, or they may have found you through your website's "contact us" page.
- A lead is like a digital business card, and typically includes a person's name, job title, phone number, email address, and company name, in addition to any custom information you might like to track, for example where you met, or what product or service they are interested in.
- Keeping Leads simple and storing the information in one record helps marketing run email, telemarketing and SEO/SEM campaigns.
- When a lead warms up, you can then "convert" them into a regular business contact.
When do I convert a Lead into a Person?
- When we confirm that a lead wants to formally evaluate our product or service, we refer to them as being "qualified", and the potential customer leaves the realm of our marketing efforts, and begins the first step in the Sales process.
- At this point, we typically need to capture more information about the person, their company, and the potential deal, in order to help us win their business.
- This is why after being "converted," we take a Lead's information, and split it up into two separate places, People and Companies, which are more useful to us in the long term.
What is an Opportunity?
- An opportunity represents any kind of business development effort that you would like to track and move along through a process, which we call a Pipeline.
- An Opportunity could represent the sale of a product, billings associated with services, or an activity that has no direct monetary value, like increasing your press coverage.
- Your process could be very simple, for example, Identified > Quote Sent > Closed Won/Closed Lost, or it could be very complex where you move it to another Pipeline it has been won (in this case, you will lose the won metrics in reporting).
- ProsperWorks allows you to create your own customized process and visually move your opportunities through each stage, allowing you to see how much is in the pipeline and take action accordingly.
What is a Person?
- A person is someone you have qualified to do business with
- They are often related together by a Company, i.e. several people at a company
- There are cases however where a Person is not linked to a Company, for example, if I am a Dentist, I am primarily interested in keeping track of my patients, but not necessarily the Companies they work for.
- In ProsperWorks, either of these scenarios is okay. We don't force you to link People to a Company like some other CRMs do. You have the ability to choose whether they are linked or not.
What is a User?
- Users are the people in your ProsperWorks account from your company
- Please do not add Users as People
If you have more questions about using ProsperWorks, check out our helpful Resource Section!
For further help or comments, head over to our Community Section!