Module 3 - Sales Management Flashcards
What is a lead?
A lead represents a potential customer with whom an existing relationship does not exist.
What is a disqualified lead?
A potential customer is no longer interested in your products or services, so you mark the lead as disqualified.
Can a disqualified lead be reactivated?
Yes
Reasons for disqualification
- No longer interested in products or services
- Your company does not have the products or services they are interested in
- Not good for either of the two companies to do business together for other reasons
Why would you disqualify rather than delete a lead?
If you disqualify a lead, it retains the records in case they are required in the future, and the lead can be reactivated. Deleting a lead remove all of the information from the system and is not recommended.
A lead is either viable or not.
If the lead is not viable, the lead is disqualified. If it is viable, the lead is a potential customer and sale.
Qualified leads become what?
Opportunities
What happens when you put a lead into disqualified status?
The lead becomes inactive and you can no longer modify or update it.
Can a disqualified lead be reactivated?
Yes
What happens when you qualify a lead?
The lead record becomes locked, as it is converted into an opportunity. You cannot then modify or update a qualified lead.
What 3 records is a qualified lead automatically converted to?
Account, Contact & Opportunity
What are Opportunities?
When the prospect or customer expresses a qualified interest in buying the business’s products or services, they’re considered an opportunity.
Opportunities are always attached to what type of record.
An account record.
What are 3 statuses an Opportunity can have?
Open, Won or Lost
If an Opportunity is Open or Lost, can it be reopened later?
Yes
Should you deactivate or delete Opportunities?
Deactivate, as you lose all the information if you delete the Opportunity.
What are the 2 ways that Opportunities can be closed as?
Closed as Won or Closed as Lost
In D365, Opportunities are saved with the default status of?
Open
When an Opportunity is closed, it generates a particular type of activity so that everyone in the company can follow what has been happening. What is that called?
A resolution activity
