Engage has developed a simple, easy process for you to convert Leads into Opportunities and convert Opportunities into client Relationships in a few steps!
First, start with a Lead to track information on your potential client. A Lead is a potential customer that is qualified or disqualified as a sales opportunity. Once the lead is qualified, it will be converted to a Contact, and an Opportunity will be created. The Opportunity is the potential sale, service, or product you are offering your client. In your CRM, you are able to track the Pipeline Phase of each Opportunity, creating records for each of your new Opportunities, and where they are in the cycle. With this information, reporting on your prospective revenue will be easier than ever.
To convert your Lead to an Opportunity, the process is very simple. On the top of each of your Leads, the command bar has the options to either Qualify or Disqualify your Lead. Click Qualify on your Lead creating an Opportunity and continue to track the sale. In addition to creating the Opportunity, Salentica Engage will also create a Contact from the Lead, so that you do not have to reenter this information into your CRM.
Next, work through each of the phases of the Opportunity. By default, Salentica Engage comes with the Pipeline Phases of Qualify, Discovery, Propose, and Close. Each phase contains specific, required details that are collected about the potential sale or investment. System Administrators have the option to customize your Phases and required fields for your firm.
Mark the Opportunity Close as Won, Creating a New Relationship: Once you have won the business, mark the Opportunity: Close as Won. Select Close as Won from the command bar, complete the necessary fields, and click OK.
This will close the open Opportunity and create your client Relationship record at the same time. To mark an Opportunity Close as Won, you will need to ensure your Opportunity is set to the Phase: Close and is marked finished. In the background, a process will run that will create a new Relationship and convert your Lead Contact to a Primary Contact automatically. The Relationship and Primary Contact will now show under your Relationships.
This is how your Lead becomes a Contact and an Opportunity, which will then become a client Relationship.
What happens if the Contact or Relationship already exists in the system?
Engage will search for duplicate records when the new Contact or Relationship are being created and alert you if any are detected. You will receive a warning message and be given the opportunity to continue to create the records, or cancel the Contact Relationship creation. The duplicate detection looks at the Contact or Relationship Name to determine if there is a duplicate.
What happens to the Activities and Notes on the Lead and Opportunity?
Any Activities and their Notes on the Lead will follow through to the Opportunity and Activities on the Opportunity will be available on the new Relationship. This way, you can track all Activities from the very beginning of the client interactions.
How does the CRM sync Relationships with the Portfolio Management System?
When the new relationship is created in the portfolio management system, the Relationship name must match exactly with the Relationship name in Engage. The daily sync process looks for an exact match in Relationship names and once the Relationship name is recognized and synced, a unique ID # will be assigned and any future data updates will sync based on the ID.
If the Relationship names do not match exactly, a new, duplicate Relationship will be created. Duplicate Relationships can be merged if needed, but it’s easier to match the Relationship name between the two systems to ensure data integrity.