Last Revised: 07 Jul 2020 Written by Veloxity CRM Time Estimate: About 5 minutes to read. Version 2.0
Converting a Lead to an Opportunity and Moving the Opportunity through the Sales Pipeline to Close (8:32)
Jump to the following sections to learn more about Working with Leads:
- How can I Add Leads?
- How can I Edit Leads?
- How can I Delete Leads?
- How can I Search Leads?
- How can I Convert a Lead to an Opportunity?
How can I use Lead Records?
- What is a Lead Record?
- How can I use Details / Files Tabs?
- Standard Fields on Lead Details
- What do the Flames mean on Lead Records?
- How can I use Lead Stages?
- How can I use Linked Records?
- How can I use User Roles (Show/Update Roles)?
- How can I use Activities?
- How can I use Timeline?
- How can I use News Feed?
- How can I use Charts?
- How can I use Merge with Other Lead?
- How can I use Capture Contact?
- How can I use Assign to Opportunity?
- How can I use Lead Tables?
What are Leads?
A Lead is a prospective sales opportunity.
Leads come in through many different sources: trade shows, web forms, conversations. The first step in the sales process is to figure out if a Lead is a legitimate sales opportunity. To do this, a Lead is nurtured through the Lead Qualification Process. Leads you wish to engage with become Opportunities. Leads that are not a good fit for your business are filtered out. The Lead Record is a temporary record. The length of time a Lead stays active in your system depends on your sales cycle.
How can I use Leads?
The information contained in the Lead Record is similar to a business card. Lead Records can track data such as Contact Data, Account Data, and Lead Source.
Based on your business model, once a Lead is qualified, the Lead Record automatically converts into the following new records:
- Business-to-Business (B2B) Companies: The Lead automatically converts to an Account, a Contact, and an Opportunity.
- Business-to-Consumer (B2C) Companies: The Lead automatically converts to a Contact and an Opportunity.
- Mixed B2B and B2C: Select which business process you would like to use from a picklist. The Lead will automatically convert the record depending on the option you select.
Visit Business Transaction Types for more information.
How Can I Automatically Route Leads to Specific Salespeople?
Set up Lead Assignment Rules to automatically route incoming Leads to the best salesperson for the job. Setting up these rules requires administrative privileges. Speak with your Veloxity administrator to set this up. See Automatic Lead Routing for more information.
Where can I find Leads?
Leads are found on the Main Menu. Click Leads to access Lead features.
You are looking at a screenshot of a Lead Record:
Figure 1. Leads on the Main Menu.
How can I use Leads?
How can I Add Leads?
Add Leads from the Main Menu
You are looking at a screenshot demonstrating how to Add a Lead from the Main Menu:
Figure 2. Adding a Lead from the Main Menu.
Add Leads from the Hub
You are looking at a screenshot demonstrating how to Add a Lead from the Hub:
Figure 3. Adding a Lead from the Hub.
How can I Edit Leads?
On the Main Menu, select Leads > List All Leads> directly edit Lead data in the table format > Save
Figure 4. Edit Leads.
How can I Delete Leads?
On the Main Menu, select Leads > List All Leads > click the row number of the Leads to be deleted > Delete
Figure 5. Delete Leads.
How can I Search Leads?
See Search for more information.
How can I Convert a Lead to an Opportunity?
What is Lead Qualification?
The Lead Qualification process determines if the Lead is a good fit for your products and services.
Lead Qualification can include gathering information on the following questions:
- What are the needs of the Lead both now and in the future?
- Does the Lead have the budget to purchase your product/service?
- Does your product/service meet the needs of the Lead?
- What is their timeframe? Can you work within this timeframe?
Your qualification process may be different depending on your industry.
What is Lead Conversion?
After going through the qualification process, a Lead will either be converted into an Opportunity, or filtered out of the sales process.
If you would like to save the Lead information, but the Lead is not converting into an Opportunity, you have the option of using Capture Contact.
When a Lead is qualified, the Lead (a potential Opportunity) converts to an Opportunity.
- Convert a Lead on a Lead Record by clicking Closed on the Lead Process View.
- Convert a Lead on a Lead Record by clicking Create Opportunity on the Lead Record.
- Convert a Lead on a Lead Table by clicking Create Opportunity directly from the Table View.
You are looking at a screenshot demonstrating how to Convert a Lead to an Opportunity on a Lead Record:
Figure 6. Converting a Lead to an Opportunity on a Lead Record.
You can use the Create Opportunity button at any time, on Lead Records or Lead Tables, to convert a Lead to an Opportunity. You do not need to progress through all the Lead Statuses and TODOs.
How can I use Lead Records?
What is a Lead Record?
Lead Records allow you to quickly access detailed information about your Leads in a simple visual format:
- Details / Files
- Lead Score
- Lead Stage
- User / Group Roles
- Linked Records Panel
How can I use Details / Files Tabs?
How can I use the Details Tab?
Click the Details Tab to access Lead Details such as billing address, shipping address, and forecasted revenue.
Standard Fields on Lead Details
- Job Title
- Mailing Address
- Lead Status
How can I use the Files Tab?
Click the Files Tab to link related files to this data record.
Visit Working with Files for more information.
What do the Flames mean on Lead Records?
The Flames on a Lead Record visualize Lead Scoring. The hotter the Flames, the hotter the Lead.
Figure 7. Flame Icon on Leads.
Lead Scoring ranks Leads to determine their sales-readiness or perceived value to your organization.
- Veloxity offers optional Predictive Lead Scoring that uses Machine Learning to discover patterns in your data to predict which Leads are ready to buy. See Veloxity AI for more information.
- You can choose to manually score your Leads using the pick list under Lead Score to select from the following: Luke Warm, Warm, Warmer, Warmest.
Figure 8. Manually Score Leads.
How can I use Lead Stages?
Figure 9. Lead Process View.
Lead Stages represent the steps your organization takes to move a Lead through your qualification process to conversion.
Use Lead Stages to track your Leads' progress through the qualification process.
The following are the default Lead Stages. Your system may show different stages depending on your sales process.
|Open-Not Contacted||A Lead is generated.|
|Working - Contacted||
Includes the following TODOs:
A Lead will close for one of two reasons:
How can I use Linked Records?
Linked Records are individual data records that show up as a link in the Linked Records Panel. Linked Records visually connect related data to a single record view without duplicating information.
Visit Linked Records for more information.
How can I use User Roles (Show/Update Roles)?
User / Group Roles grant record-level privileges to users in Veloxity CRM. These roles determine what information a user can view, and what actions the user can perform, with the data.
Record-level privileges include actions such as viewing, editing, and deleting data records.
Visit User Roles for more information
How can I use Activities?
Activities enable you to plan, document, and record your sales related communications and actions.
Visit Activities for more information.
How can I use Timeline?
Timeline collects and displays information about recent activities and field changes related to your data records.
Visit Timeline for more information.
How can I use News Feed?
News Feed provides current international, national, and local news about your Accounts through interactive links. News Feed offers a rich source of continuous information organized from thousands of publishers and magazines. Easily stay current on multiple facets of your Opportunities without leaving Veloxity CRM.
Visit News Feed for more information.
How can I use Charts?
Charts can help you optimize your sales process. Charts are powerful tools to analyze your data, find patterns, track goals, and gain insights into your sales process. Charts are quickly customized to visually answer complex questions, at any time, in real-time detail.
Visit Charts for more information.
How can I use Merge with Other Lead?
Merge Records is located in the upper right hand corner of a Lead Record.
Figure 10. Merge with OtherLead.
You may find that you have duplicate records in your Veloxity CRM system. Perhaps two or more of the same Leads have been entered into your system. Quickly merge these duplicate records using Merge Records.
Merge Records will guide you through the process of selecting which information you wish to keep and which information you wish to remove.
See Merging Data Records for more information.
How can I use Capture Contact?
Capture Contact saves the information on the Lead Record when the Lead is not Converting to an Opportunity.
Only use Capture Contact when a Lead is NOT converting.
Capture Contact automatically creates the following data records:
The records created depend on your Business Transaction Type.
- Business-to-Business (B2B) Companies: Capture Contact converts the Lead Record into an Account Record and a Contact Record.
- Business-to-Consumer (B2C) Companies: Capture Contact automatically converts the Lead Record into a Contact Record.
- Mixed B2B and B2C: Capture Contact automatically converts the Lead Record depending on the business process you select. On the Lead Record, under Transaction Type, select either B2B or B2C from the pick list.
Capture Contact differs from Lead Conversion because an Opportunity Record is not created. The Lead data is not linked to an Opportunity.
Visit Capture Contact for more information.
How can I use Assign to Opportunity?
If you would like to assign a Lead to an Opportunity that already exists in your system, use Assign to Opportunity.
Visit Assign to Opportunity for more information.
How can I use Lead Tables?
An Opportunity Table displays all of your Opportunity Records in a table format.
Opportunity Tables are found on the Main Menu under List All Leads.
Visit Using Data Tables for more information.