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Introduction
This lesson examines a more complex sales process and discusses leads in detail, as they can be a key entry point in the sales process. The discussion begins with entering and importing leads, and then walks through the process of converting a lead to an opportunity, account, and contact. It also covers converting an activity to a lead and ways to disqualify and reactivate leads. Finally, the lesson highlights ways to use lead reports.
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Scenario
This scenario describes how a company can gather leads and use Microsoft Dynamics CRM to assign the leads using a workflow process. Each morning, a sales representative receives a list of leads that have registered on the company web site since the previous day. The sales representative imports the leads to Microsoft Dynamics CRM using the Import Leads feature. The company also generates leads in a number of other ways: Participation in trade shows Requests for product information resulting from magazine advertisements The purchase of marketing lists for direct mail campaigns
After they are entered, leads automatically run through a pre-configured workflow rule that assigns the leads based on geographic location and creates activities. The next step is to contact the lead. Based on the interaction with the lead, the sales representative might take any of several actions: Update information such as the company web site Enter notes about the interaction Qualify the lead into an account, contact, or opportunity
If the sales representative encounters a lead that is not interested in pursuing a sales relationship, the lead is disqualified. The Sales Representative indicates a reason for disqualifying the lead. Disqualified leads are retained in the database, so their data can be used for later market research or they can be reactivated if there is later interest. The company tracks leads that result in closed sales, and the method of lead source that produced the closed sale. This allows the company to focus on the successful marketing campaigns and refine them.
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NOTE: Leads are not typically connected to accounts or contacts. After converting a lead to an account, contact, or opportunity, the lead record is closed. However, you can track activities (telephone calls, appointments, letters, or tasks) for a lead. The activities do not get converted to activities for the account or contact, however they can be seen in the Related Records view for the account or contact created.
Data imports run asynchronously on the server. As part of the import request you can direct the server to send you an e-mail when the import is complete.
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5. On the Details tab, enter all the available information, including: Address Company Information Lead Information: Specify the lead source information, if possible, to help determine which marketing method, such as advertisement or trade shows, generates the most leads for your organization.
6. On the Administration tab, enter information, noted restrictions, or requirements as needed: Status Reason: This value appears in the list of leads in the Leads area. You can sort by the Status Reason column to view new leads or those already contacted. Source Campaign: Enter the campaign record if this lead was generated as a result of a campaign created in Microsoft Dynamics CRM. You can use Lookup to search for the record. Contact Methods: Enter the contact method of the lead. Marketing Information: Select if the lead wants to receive marketing materials. 7. On the Notes tab, click Click here to enter a new note, and add the information that applies to the record. 8. Click Save and Close. BEST PRACTICE: Use workflow rules to assign a lead or to create activities that a sales representative should use to qualify the lead. Workflow and Sales Processes are discussed in the Completing the Sale lesson.
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NOTE: If you do not have an import map for the data, create one based on the CSV file. Refer to the procedure above: Create a Data Map from a Source File. 7. For the Assign to field, select the user to whom the newly-imported records are assigned. 8. Specify whether to import duplicate records, and then click Next. 9. Under New name, change the name of the import if desired. Select Send me an e-mail message when the import is complete to be notified when the process is finished. 10. Click Import to begin the import process. 11. If you chose to be notified when the import is complete, you will receive an e-mail stating the process has been completed. Otherwise, the new import can be viewed by clicking Workplace My Work, Imports in the Navigation Pane. NOTE: When importing dates, the dates must be in UTC format: CCYY-MMDD, where: CC is the century (00-99) YY is the year (00-99) MM is the month (01-12), and DD is the day of month (01-31). (For example, 2002-12-25)
NOTE: If a value from the imported source is mapped to a lookup or pick list field, the Import Wizard presents the values from the data source and prompts the user to match it to the existing Microsoft Dynamics CRM lookup or pick list values.
Scenario
A sales representative receives an e-mail asking for pricing of a product. The sales representative is not sure if this is a real, but wants to follow the company's standard lead qualification processes. To start this process, a lead must be created.
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Additional tasks can also be tracked, such as: Create reminders (tasks) to follow up Create, modify, accept, assign, and close appointments
It is important to track these activities to avoid contacting the company too many times or having multiple salespeople contact the lead. After a lead is contacted, the status of the lead is updated in one of two ways: Leads that show an interest in buying become opportunities. Leads that show no interest are disqualified, but are retained in the database for business reporting purposes.
Workflows
A defined process helps to ensure efficiency and provides the best chance of maximizing the potential of leads. In Microsoft Dynamics CRM, you can also create workflow rules to assign leads to users based on specified criteria. Workflow processes can be used to maintain consistency and defined processes. Workflows can create tasks such as initial telephone calls or sending materials. They can also provide guidance, such as indicating when to send an e-mail or make a follow-up telephone call.
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Scenario
A sales representative calls a potential customer, [lead name/contact] at [lead company/account], regarding a lead in the system [lead description] for a potential purchase. The sales representative learns that the customer wants to receive a quote for [quantity] of [product]. The sales representative converts the lead into an opportunity and creates the contact and account.
Steps
Follow these steps to qualify and convert the lead: 1. 2. 3. 4. 5. 6. In the Navigation Pane, click Sales, and then click Leads. Click the Name column header to resort the data. In the Search box, type [name] and then click the Find icon. In the list, select and open the lead: [lead description]. On the Standard toolbar, click Convert Lead. In the Convert Lead dialog box, select Qualify and convert into the following records, and then select Account, Contact, and Opportunity. Select Open newly created records, and then click OK.
A Opportunity, Account, and Contact form will appear 7. Fill in the Opportunity Information. Best Practice: The sales organization should have a convention what is placed in the Topic line. For example, the topic could indicate what the customer wants to purchase. For example, a services company may use a convention such as {Person} from {Organization} wants {Product/Service} 8. On the Contact form, under E-mail, enter a new e-mail address for the contact: [e-mail address]. 9. Click Save and Close. 10. On the Account form, under Main Phone, enter [phone]. Click Save and Close. 11. In the Lead form, click Close.
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Reporting on Leads
There are several reports available in Microsoft Dynamics CRM that contain information about the leads. These Reports can help answer important sales questions such as: Where do most leads originate? Which types of leads result in the most opportunities? How many leads were disqualified and why? Who has the best lead conversion rate?
Two key reports are: Lead Source Effectiveness Report - Use this report to compare how effective lead sources are at generating quality opportunities. The report lists the percentage of qualified leads, and leads that generate revenue for each lead category. Neglected Leads Report - Use this report to identify leads that have not been contacted. The report displays a chart of leads that have had no associated activities or notes during a specified time period.
Summary
Microsoft Dynamics CRM is an excellent tool to help qualify leads. Leads can be disqualified and retained, or converted into accounts, contacts, or opportunities. You can track activities for leads such as telephone calls, e-mail, and appointments and retain that history when leads are converted. A lead can be assigned or shared among several groups or users. Microsoft Dynamics CRM lets you enter individual leads or import them from a file. Using the Data Import Wizards, users can easily create data mappings and map or ignore attributes for import.
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Prospects
2. What are prospects called in Microsoft Dynamics CRM? ( ) Opportunity ( ) Account ( ) Contact ( ) Lead
Tracking leads
3. Why is it important to track communication with leads? Select all that apply (Select all that apply.) ( ) To measure the performance of telemarketers ( ) To avoid contacting the Lead too many times ( ) To avoid having multiple sales people contact the lead ( ) To satisfy call report requirements
Import files
4. Which of the following file types can be imported? ( ) Comma Delimited (CSV) ( ) Microsoft Excel Spreadsheet ( ) Microsoft Word document ( ) Microsoft Access database
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Convert leads
6. Which action should be taken when a lead has been contacted and the customer is interested in purchasing products from your company? Select all that apply. ( ) Disqualify ( ) Delete ( ) Convert ( ) Enter a new lead
Converting leads
7. When a lead is converted which of the following types of records can be created automatically? Select all that apply. (Select all that apply.) ( ) Activity ( ) Contact ( ) Opportunity ( ) Account
Disqualifying leads
8. Which action should be taken when a lead is contacted and the customer is not interested in purchasing products at this time? ( ) Disqualify ( ) Delete ( ) Convert ( ) Enter a new lead
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Contact records
10. Select which of the following statements are true. (Select all that apply.) ( ) A Lead record can parent multiple Opportunity Records ( ) A Contact record can parent multiple Opportunity Records ( ) An Account can parent multiple Lead Records ( ) An Opportunity can be parented by an Account or a Contact
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Challenge Yourself
Fill in the missing information in each statement. 1. A lead is identified as a <U>_________</U> customer. 2. It is important to <U>_______</U> a lead to determine interest in products or services offered. 3. Communication with a lead such as e-mail, telephone calls and meetings are recorded in Microsoft Dynamics CRM as <U>__________</U>. 4. Leads that show an interest in making a purchase becomes an <U>___________</U>. 5. A <U>_________</U> process can be used to automatically assign a lead. 6. It is important to track the <U>______</U> of leads to determine which produce the most closed sales. 7. A lead that is not interested in pursuing a sale is <U>____________</U>. 8. Lead history is maintained for future market <U>________</U>. 9. The ____ ________ checks to see if the data being imported already exists so that the same record is not created. 10. Using the ______ _______ wizard, users will be able to import data into Microsoft Dynamics CRM and map them to system or customized entity and or attributes.
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Challenge Yourself
Use the information in the Scenario and Goal Description to complete the lab.
Step by Step
1. In the Navigation Pane, click Sales, and then click Leads. 2. On the Actions toolbar, click New. 3. On the General tab, enter information or observe any noted restrictions or requirements as needed.
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5. On the Details tab, enter all the information you have available, including: Main Address: [address] Industry: [industry]
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Challenge Yourself!
Use the information in the Scenario and Goal Description to complete the lab.
Step by Step
Record a telephone call activity: 1. In the Navigation Pane click Sales. 2. In the Sales area click Leads.
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Send the e-mail: 1. Within the lead record, on the Standard toolbar, click Send E-mail. 2. Enter the details for a thank you message. 3. On the Standard toolbar, click Send. Convert the lead: 1. Within the lead record, click Convert Lead. Use the steps in Demonstration: Convert a Lead to convert the lead.
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Solutions
Test Your Knowledge
Potential Leads
1. Which of the following are potential sources for business that should be tracked as leads? Select all that apply. (Select all that apply.) () Company web site () Purchased marketing list ( ) Contact with an existing Customer ( ) Existing Opportunities
Prospects
2. What are prospects called in Microsoft Dynamics CRM? ( ) Opportunity ( ) Account ( ) Contact () Lead
Tracking leads
3. Why is it important to track communication with leads? Select all that apply (Select all that apply.) () To measure the performance of telemarketers () To avoid contacting the Lead too many times () To avoid having multiple sales people contact the lead () To satisfy call report requirements
Import files
4. Which of the following file types can be imported? () Comma Delimited (CSV) ( ) Microsoft Excel Spreadsheet ( ) Microsoft Word document ( ) Microsoft Access database
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Convert leads
6. Which action should be taken when a lead has been contacted and the customer is interested in purchasing products from your company? Select all that apply. ( ) Disqualify ( ) Delete () Convert ( ) Enter a new lead
Converting leads
7. When a lead is converted which of the following types of records can be created automatically? Select all that apply. (Select all that apply.) ( ) Activity () Contact () Opportunity () Account
Disqualifying leads
8. Which action should be taken when a lead is contacted and the customer is not interested in purchasing products at this time? () Disqualify ( ) Delete ( ) Convert ( ) Enter a new lead
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Contact records
10. Select which of the following statements are true. (Select all that apply.) ( ) A Lead record can parent multiple Opportunity Records () A Contact record can parent multiple Opportunity Records ( ) An Account can parent multiple Lead Records () An Opportunity can be parented by an Account or a Contact
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