Understanding Leads, Contacts, Accounts, and Deals

Time for a quiz! Can you think through the following….?

Stacy Ferguson, the CEO of Fergie’s Car Shop, has come to you for help setting up a CRM. She wants the CRM to A) Help her track her customers better and B) Market more efficiently to her customers

Fergie’s Car Shop has 2 primary business models:

  1. Repairs and upgrades for individual customers (e.g. a mom that has a flat tire drives her mini-van to get the van fixed)
  2. Corporate contracts with businesses that have fleets of vehicles that Stacy and her team fix on a recurring basis (e.g. Giselle from Giselle’s Construction brings her crew’s pickup trucks to Stacy for repairs).

The question:

Knowing what you know about Stacy’s customers, describe what information belongs in each module! Who is a Lead? Who is a Contact? When do Deals get created? What about Accounts?

Consider filming a Loom video of yourself so you can rewatch it and evaluate if you really understand it well enough to teach it to someone else.