Sales users will most likely embark on their Salesforce journey right here. The term “Leads” refers to individuals we intend to reach out to, as they could potentially express interest in testing our solution, purchasing our product, or booking our service. A Lead embodies elements of an Account, Contact, and Opportunity; it represents a person (with attributes such as name, email, and phone number akin to Contact fields) associated with a company (with a Company Name field resembling an Account) that we wish to evaluate for potential interest in our offerings (indicated by the Lead’s status, similar to Opportunity indicators).
Why does the Lead exhibit such similarity to Account, Contact, and Opportunity? This alignment stems from the fact that Leads serve as precursors to these entities, as all their respective records can be generated during a procedure called “Lead conversion.” So, what precisely is Lead conversion? Allow me to elucidate using an example.
Imagine your company specializes in high-end merchandise. Someone completes an online form inquiring about your products and provides all the necessary contact details. This individual now qualifies as a Lead. It’s that straightforward. Your sales team can now reach out and ascertain the extent of their interest in the products. If, following a conversation, the salesperson confirms their continued interest in our high-end merchandise, the Lead can be elevated beyond its initial status – it becomes what you might call an “uber Lead.” The salesperson can initiate the conversion process, transforming the Lead into an Account, Contact, and Opportunity – all three records emanating from that single Lead! This process is aptly termed Lead conversion.
Throughout Lead conversion, fields from the Lead, such as Company Name, facilitate the creation of Account records, while attributes such as first name, last name, and email are employed to generate Contact records. When the Lead is transformed into an Account and Contact, the Opportunity can also be concurrently established. Opting to create an Opportunity during Lead conversion signifies the continuation of the sales journey, presenting an opening to potentially sell a product or service to the Lead.
Wondering how to trigger Lead conversion? The process is both prominent and straightforward. An action button labeled Convert exists on the Lead page. Simply click this button and work your magic!
Reports and dashboards
After a while, you will notice that your Salesforce database is growing, and after some time, you will realize that there is a substantial amount of data. Eventually, your business will also recognize this and inquire about reports that can present crucial information concerning Leads, Opportunities, Orders, and more. Be prepared! Form a friendly relationship with reports and dashboards in the Salesforce Analytics tab.
So, what exactly are reports and dashboards in Salesforce? It’s actually quite straightforward. A report is used to create a summary of existing Salesforce data. It bears some resemblance to an Excel spreadsheet, displaying data in columns and rows. On the other hand, dashboards are designed to visualize this data. Think of them as Excel graphs but integrated within Salesforce.
Reports don’t necessarily require dashboards to function; they can stand alone and remain independent. They possess strength and autonomy. However, dashboards cannot exist without reports. Dashboards are more like team players; they are often associated with numerous reports that serve as their data sources. They possess strength as well, but their power is rooted in the reports they are built upon.