Converting (Qualifying) Leads in Microsoft Dynamics 365
The concept of the “Lead”, as mentioned in other posts in this series, is for the organization using Microsoft Dynamics 365 to use the Lead entity to store low-value information, work the Lead in an effort to sell services or products, and eventually either “Qualify” or “Disqualify” the lead. This is performed simply by clicking on either of the two icons shown below on the Lead entity form.
Figure 1 – Qualify and Disqualify buttons on the Lead form in Microsoft Dynamics 365
- Typically, if you click this icon, you are essentially saying the system “This is not worthy of creating an Opportunity, Account and/or Contact from this effort – make it disappear.” The concept is to remove it from the active lead lists so that the sales team does not expend any more effort on the sales effort – at least for now. (Leads can be re-activated and no data is lost.)
- Typically, this icon is clicked if the efforts could prove to be fruitful. What you are saying to the system in this case, is “This effort could go somewhere, and we should create more information to manage those efforts.” This “more information” consists of an Opportunity, a Contact and possibly an Account (if the Company field was filled out on the Lead form.)
To illustrate this important concept, we will provide a small graphic followed by the way the qualification/conversion is represented in the interface, as well as the populating of the Opportunity, Contact and Account entities.
Figure 2 – The Qualification of a Lead can potentially create three new records – the Contact, Account and Opportunity
To understand how this is represented in the interface, see the figures below, which represent the Lead and the ensuing three entity forms showing information as well as important relationships between those newly created entity records.
Figure 3 – The Lead form Summary Tab
Note in figure 3 above the important fields, such as Topic, Name and Company. There are other fields populated, such as job title, phone information, email, website, and address information. We also see an estimated budget.
The next step is to click QUALIFY at the top of the lead form. Once this is done, the page refreshes and the newly create Opportunity form is presented for the Lead that was just converted. See below.
Figure 4 – The Microsoft Dynamics 365 Opportunity that was created from converting a Lead
Note the highlighted fields, where the Contact and Account are lookups to records that were created in the qualification process, and the opportunity was named from the Topic of the lead.
Clicking on the Contact link in the Opportunity presents the contact form as shown below for the newly created contact record.
Figure 5 – Microsoft Dynamics 365 Contact from a Converted Lead
Figure 5 above shows the form for the Contact record that was created during the Lead qualification process. Note that all of the relevant information that was present in the Lead was transferred over to the Contact– such as Job Title, Email, Phone, Address. And the Account Name field is a lookup to the created Account record, which we will examine next. (Please note that the photo was not transferred – this must be uploaded on the Contact record.)
Clicking on the Account Name field presents the form for the Account record that was created during the qualification process. See below for a screen shot of this record.
Figure 6 – The Account record that was created from the Conversion of a Microsoft Dynamics 365 Lead
Figure 6 above shows a rich set of information that was created when the Lead was qualified, such as the name of the organization, the main business phone, the address, the website, as well as the primary contact and their contact information. In addition to the Primary Contact field populated with the contact that was created, the same contact record was added to the list of contacts that are associated with this newly formed company. Also, the system posted information in the social pane that informed all users who look at this record who created these records and when.
Thus, with a rich set of data across three newly created entity records in Microsoft Dynamics 365, the Lead Qualification process represents a significant time-saver (one click on the Lead created all of this inter-related data), as well as lays the groundwork for a robust system of Customer management, where information about Companies, People, and Opportunities is stored in separate but related entities in the system. This is powerful for organizations of any size that seek to maintain their data in an organized and reportable fashion.