Sales Terminology: Sales Lead Terminology
! Sales Leads can be created at any time, regardless of whether or not an associated enquiry has been logged.
The Sales Leads feature on the Flowlens application is an easy to use, useful tool which allows users to log all sales leads and any other information that may be relevant. With traceability implemented across the business cycle, users can follow potential sales from enquiry stage right through to sales dispatch and invoicing.
- The name of the potential sales lead company. This can be an existing customer, a new perspective customer.
- A sales lead must have a company.
- The name of the potential sales lead contact. This is not a compulsory field and can be left empty.
- If you are a B2C company, you are more likely to not use this field.
- Assigned to
- This will be the Flowlens user who will work the enquiry.
- Auto-assigned to the current user, but can be changed.
- Referral Source
- The source via which the lead was received.
- Can be defined in settings for a fixed list.
- This is free text field to store any information pertinent to the sales lead.
- Current stage
- A sales lead stage defines the current sales stage the deal is at.
- Sales lead stages are defined in the settings menu.
- A lead's stages can be adjusted via the 'Actions' drop-down in a sales lead. Any adjustment is recorded in the sales lead's activity log.
- Each stage can carry a percentage weight (optional and can be defined in settings), allows users to see sales forecast for the next 6 months for all leads in the pipeline by stage.
- This field is used to record the budget the customer might have for the deal.
- This field is used by businesses who deal with a lot of custom/build-to-order orders and this helps them understand and propose appropriate products and services to their customers.
- It is an optional field and can be left empty if not used.
- Quoted value
- Users should detail the estimated value of their customer quote. This value is used to help inform sales forecasts and in sales pipeline analysis views.
- One must note that this field is independent of the values of sales quotes attached to the lead and must be filled manually by the user if they want to use forecast and pipeline analysis views. It is not a compulsory field.
- Est closing date
- Users should record a date for this field, either when the customer plans to make a decision on the deal and/or when the sales team thinks this deal would be closed.
- Although it is not compulsory on sales leads, this field is used in sales forecast and sales pipeline analysis and must be filled in if you want to use these in-built reports.
- Deal type
- Various deal types can be defined in settings and then used against sales leads.
- Example deal types are : Cash Sale, Lease agreement.
- Various sectors can be defined in the Settings menu and then used against sales leads.
- Example sectors can be Agriculture, Shipping Industry, Electronic manufacturing, Construction etc.
- Select the country that applies to the sales lead/customer.
- A list of regions can be defined in settings based on your list of sales regions.
- These regions can be applied to a sales lead.
- Sales team
- If there are multiple users working on the lead, these can be defined here.
- Users should select all applicable users from the drop-down.
- The lead will still be assigned to just one user, but this field acknowledges that other people from sales team have worked on this particular lead.
! Only certain users will have access to all areas covered in this glossary.