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Difference between Lead and Opportunity?

    Question

  • Dear Experts,

    am not clear in leads and Opprotunity.every time am getting confusion what is the main difference between them and which purpose used those entities in crm .Please resolve my problem with  example.

    Wednesday, August 08, 2012 6:57 AM

Answers

  • Hi Chandra Shekar you could search on any search engine about the differences between lead and opportunity.

    Here are some differences that will helps you to understand lead and opportunity

    1.

    Lead: a person / company which is interested on some business of yours. You are trying to sell him something.
    Opportunity: A Sale for some Account.
    When you convert a Lead to a Contact you can choose creating an Account and Opportunity as well.
    So Lead defines a "possible" Sale for a Contact and a Company.
    2.

    A Lead is a 'cold' call (both your examples are Leads) -- you have not yet established a relationship. You can follow up with a lead, but they are just "window shopping." (Another way to look at it: your email is spam to them.)

    A Contact - contacted you for more info. You now have a 'relationship' or dialogue. (Using the email example: You now have tacit permission to email/contact them and start the marketing.)

    At this point you can convert that Lead to a Contact/Account/Opportunity, and here's how we're doing it:

    We immediately convert the Lead to a Contact and an Account and gather as much info as we can. We cross link as much info as we can through the relationship (magnifying glass) drop downs. Note that you can have multiple Contacts related to an Account.

    Finally, when the Contact/Account inquires about a specific issue/problem/quote, you now have an Opportunity. (Note that you can have multiple Opportunities for an Account.) And you can track the Opportunity to a resolution -- hopefully a sale. This way you keep all your Contact/Account info intact no matter the outcome of the Opportunity.


    I hope this helps. If my response answered your question, please mark the response as an answer and also vote as helpful.
    Mubasher Sharif
    Check out my about.me profile!
    http://mubashersharif.blogspot.com
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    Wednesday, August 08, 2012 7:04 AM

All replies

  • Hi Chandra Shekar you could search on any search engine about the differences between lead and opportunity.

    Here are some differences that will helps you to understand lead and opportunity

    1.

    Lead: a person / company which is interested on some business of yours. You are trying to sell him something.
    Opportunity: A Sale for some Account.
    When you convert a Lead to a Contact you can choose creating an Account and Opportunity as well.
    So Lead defines a "possible" Sale for a Contact and a Company.
    2.

    A Lead is a 'cold' call (both your examples are Leads) -- you have not yet established a relationship. You can follow up with a lead, but they are just "window shopping." (Another way to look at it: your email is spam to them.)

    A Contact - contacted you for more info. You now have a 'relationship' or dialogue. (Using the email example: You now have tacit permission to email/contact them and start the marketing.)

    At this point you can convert that Lead to a Contact/Account/Opportunity, and here's how we're doing it:

    We immediately convert the Lead to a Contact and an Account and gather as much info as we can. We cross link as much info as we can through the relationship (magnifying glass) drop downs. Note that you can have multiple Contacts related to an Account.

    Finally, when the Contact/Account inquires about a specific issue/problem/quote, you now have an Opportunity. (Note that you can have multiple Opportunities for an Account.) And you can track the Opportunity to a resolution -- hopefully a sale. This way you keep all your Contact/Account info intact no matter the outcome of the Opportunity.


    I hope this helps. If my response answered your question, please mark the response as an answer and also vote as helpful.
    Mubasher Sharif
    Check out my about.me profile!
    http://mubashersharif.blogspot.com
    Linked-In Profile
    Follow me on Twitter!


    Wednesday, August 08, 2012 7:04 AM
  • Hello,

    Have you already downloaded SDK? It contains answers:

    What is Lead.

    What is Opportunity.


    Microsoft CRM Freelancer

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    • Proposed as answer by MubasherSharif Wednesday, August 08, 2012 7:07 AM
    Wednesday, August 08, 2012 7:06 AM
  • hi chandra shekar,

    Leads are not your customers but potential customers. They can be qualified as(converted to) Opportunity if they are interested in buying your products.

    If you want more information regarding this please make use of the MS CRM ebooks "Microsoft Dynamics CRM 2011 Step by Step" and "Microsoft Dynamics CRM 2011 Unleashed".

    If helpful, "Vote as helpful" and mark as answer.

    Wednesday, August 08, 2012 7:10 AM
  •  Leads : : 

     In general, there is no current or past relationship history with these leads.
    * Leads should be qualified as a potential customer before they are “promoted” to a CRM Contact and/or CRM Opportunity.
    * Leads are NOT synchronized with the Outlook CRM Client, therefore they will NOT be listed as Outlook Contacts. Leads can only be managed via 
    Examples:
    Web visitors who had submitted a website questionnaire, and additional follow-up is needed.
    Imported contacts from a third party list.
    Business cards procured from an event or tradeshow.

    Opportunities

     Opportunity signals the kickoff of your company’s sales process with a potential or existing client.
    The history of Open, Won or Lost Opportunities can always be found in the related Account or Contact record.
    All metrics related to the opportunity are measured here, such as:
    Estimated Revenue.
    Percent Probability of Closing.
    Sales Stages.
    Rating (Hot, Warm, Cold).
    Follow-up activities related to the opportunity.

    Download Official Material Of CRM 2011 ..

    It will Be Help Full For you...


    • Edited by Parthiban.T Thursday, August 09, 2012 4:27 AM
    Wednesday, August 08, 2012 2:24 PM
  • I found this here : http://sanket-shah.com/2011/08/02/dynamics-crm-2011-actual-crm-terminologies-part-ii-sales-terminology/, hope this help.

    Leads

    • Records that you have not yet qualified as desirable prospects for your organization
      • e.g. – If someone visits your Car Showroom and submits a “contact us” form either manually or through your website, your organization may want to follow up and qualify them
    • Qualified Leads: converted into an account, a contact, and possibly an opportunity
    • Disqualified Leads: kept in the database for reporting purposes but hidden from standard views

    Opportunities

    • Potential Transactions that organization may engage in with a targeted customer
    • Linked to the customer (an account or contact) to which they are related

    Leads v/s Opportunities

    Leads Opportunities
    Way to track prospects that you are not yet sure if you have an interest in pursuing Typically used to represent active sales deals that are being considered by the prospect and that can be reliably included in a sales forecast
    Lend themselves to business processes designed specifically for the purpose of lead qualification and nurturing

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    Puneet Joshi - Dynamics CRM Developer

    • Proposed as answer by Puneet Joshi Wednesday, August 08, 2012 4:20 PM
    Wednesday, August 08, 2012 3:48 PM
  • Hi,

    Thanks for your valuable information now i got clearly what is the difference between lead and opportunity.

    Thank you & Regards,

    Chandra Shekar.

    Thursday, August 09, 2012 9:00 AM