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Thread: Prospects vs Targets vs Accounts

  1. #1
    pmfreire is offline Sugar Community Member
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    Default Prospects vs Targets vs Accounts

    Hello List,

    I am new to SugarCRM but Ihave been using CRMs for a long time. SugarCRM has lots of great features but, or I'm failing to understand how to use it or it fails when to do real sales management.

    From what I can see, there are tables for Prospects, Accounts and Leads.

    What I would like to have is: a big table where exists information about companies (like the one of the accounts, plus some fields but these I can add them as custom). Then, I could do some work over this companies, selecting some to contact marking them as prospects. On these prospects I should be able to register contacts (phone, mails, fax , etc), create opportunities and related quotations and, if it goes well mark them as Accounts.

    So, maybe there could be just one table for company information and : - or another field defining waht it it (undefined, prospect, account); - or another table linking the company ID.

    Does this make sense or I am understanding the concept wrong ?

    Thanks

  2. #2
    gsrigg is offline Sugar Community Member
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    Default Re: Prospects vs Targets vs Accounts

    I think you may be following the process wrong. If you're starting out with a prospect, that would go in Campaigns as a Target.

    When the target progresses, you would then hit the "convert" button to progress the target to a Lead.

    From there, you convert the Lead through to an Opportunity and/or Account and/or Contact.

    Hope this helps!,
    Gary

  3. #3
    pmfreire is offline Sugar Community Member
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    Default Re: Prospects vs Targets vs Accounts

    I will try this workflow.

    However, I would like to start with a list (table, database, whatever) of companies information. For example, I could hava a Dun&Bradstreet database and want to import it to *somewhere* in sugarcrm. This list however, doesn't have to be all targets. I can create specific campaigns (I can define cold calls prospection as a campaign?) and select only some companies for the campaign (geographically based for example). For me, this doesn't define this selection as targets but yes as prospects. If I identify them as having potential, then I should promote them for targets, starting a business development process.

    Don't you agree with this ?

  4. #4
    gsrigg is offline Sugar Community Member
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    Default Re: Prospects vs Targets vs Accounts

    Quote Originally Posted by pmfreire
    I will try this workflow.

    However, I would like to start with a list (table, database, whatever) of companies information. For example, I could hava a Dun&Bradstreet database and want to import it to *somewhere* in sugarcrm. This list however, doesn't have to be all targets. I can create specific campaigns (I can define cold calls prospection as a campaign?) and select only some companies for the campaign (geographically based for example). For me, this doesn't define this selection as targets but yes as prospects. If I identify them as having potential, then I should promote them for targets, starting a business development process.

    Don't you agree with this ?
    In CRM a "prospect" is a "target". It's just different terminology. A prospect (or target) that has been "qualified" (a candidate) becomes a lead. From there, an opportunity.

    In terms of importing, yes, there are limits to what CRM does. What I have done for customers before it to write some specific import code for them - that imports and creates "target lists" by both geography (region) and by industry. It would automatically sort targets/prospects into different target lists against a specific campaign depending on the data in the initial table/database/spreadsheet...

    In short, a "target" IS a "prospect" in CRM. Just different words are used for the sales funnel depending on what business you're in or what part of the world!

    Hope this helps.

    Gary

  5. #5
    mylo78 is offline Sugar Community Member
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    Question Re: Prospects vs Targets vs Accounts

    Hi,

    I'd like to have a company as a target instead of a person. Is this possible?

  6. #6
    jussik is offline Sugar Community Member
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    Default Re: Prospects vs Targets vs Accounts

    Quote Originally Posted by mylo78
    Hi,

    I'd like to have a company as a target instead of a person. Is this possible?
    Funny, I'm having exactly the same question at the moment, We would like to link accounts to target lists.
    Is this a big customization in 5.0.0g? Maybe someone has already implemented this?

  7. #7
    mylo78 is offline Sugar Community Member
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    Default Re: Prospects vs Targets vs Accounts


  8. #8
    BostonDan Guest

    Default Re: Prospects vs Targets vs Accounts

    I too would like to have accounts as targets.
    My view of the sales funnel: Target company, target contact, lead, prospect, and then opportunity.
    Any suggestions or support for this functionality is appreciated.
    Thanks. BostonDan

  9. #9
    a.campbell Guest

    Default Re: Prospects vs Targets vs Accounts

    Quote Originally Posted by pmfreire View Post
    Hello List,

    I am new to SugarCRM but Ihave been using CRMs for a long time. SugarCRM has lots of great features but, or I'm failing to understand how to use it or it fails when to do real sales management.

    From what I can see, there are tables for Prospects, Accounts and Leads.

    What I would like to have is: a big table where exists information about companies (like the one of the accounts, plus some fields but these I can add them as custom). Then, I could do some work over this companies, selecting some to contact marking them as prospects. On these prospects I should be able to register contacts (phone, mails, fax , etc), create opportunities and related quotations and, if it goes well mark them as Accounts.

    So, maybe there could be just one table for company information and : - or another field defining waht it it (undefined, prospect, account); - or another table linking the company ID.

    Does this make sense or I am understanding the concept wrong ?

    Thanks
    You are completely misunderstanding :-)

    Consider this:

    I have a filing cabinet with all my sales information. It has three drawer: Hot, Cool and Cold.

    In your use of CRM, you are throwing everything into the Hot drawer. So it becomes more difficult to find the real Hot (or Cool) data.

    In SugarCRM:

    Hot Drawer = Accounts, Contacts & Opportunities
    Cool Drawer = Leads
    Cold Drawer = Targets

    That's no an exact explanation. Cool data is usually regarding companies and people not yet qualified by salespeople. Cold data may typically be a list that you have purchased.

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