English
Deutsch
Want to get more out of SuiteAcademy?
Become a member and get access to:
- Workshops
- Courses
- Templates
- Monthly progress calls
In the expansive world of Customer Relationship Management (CRM) systems, many platforms share similar features. However, SuiteCRM distinguishes itself with its robust framework for managing customer interactions.
SuiteCRM’s design guides businesses through every phase of the customer journey, from initial contact to successful transactions. Targets mark the beginning, progressing into Leads, Contacts, and Accounts, with Opportunities serving as the pathway to potential sales. Each module contributes to a cohesive and efficient CRM system.
Today, let’s unpack the differences between SuiteCRM Targets and Leads, and gain clarity on SuiteCRM’s essential modules: Targets, Leads, Contacts, Accounts, and Opportunities.
Targets
The Targets Module in SuiteCRM
The Targets module represents the first step in the customer journey, identifying potential leads or business opportunities—individuals or companies not yet contacted.
Targets typically originate from partners, data providers, or online research. This module allows you to gauge initial interest. Think of it as the launchpad for lead generation.
In SuiteCRM, you’ll notice modules like Accounts, Contacts, Opportunities, and Leads prominently displayed at the top left. However, Targets are less visible. To access them, navigate to “More” and locate “Targets” further down.
Create a new Target
To add a target:
- Hover over the "+" icon and select “Create Target,” or
- Navigate to the Targets module in the main menu and click “Create Target.”
You can input personal details such as first and last name, account name, email address, and physical address. For example, enter “First” as the first name, “Last” as the last name, and “Company” as the account name.
After saving, the target is ready for further engagement.
Targets in SuiteCRM are essentially data points that might qualify as Leads.
One benefit of leveraging the Targets module is granting selective access to external contributors, allowing them to input data without exposing sensitive lead information.
For example, you can provide external contributors or part-time staff members exclusive access to this module if they are helping with lead (target) creation. They can effectively give useful information about possible leads thanks to this tailored access. You won't give those contributors too much lead data, though.
Advice: It's important to strategically choose your preferred method of handling data when using SuiteCRM. Think about the benefits and drawbacks of modifying your approach to fit with the goals of your organization.
In SuiteCRM version 8, the conversion from Target to Lead isn’t fully functional due to a bug in the new interface. This limitation requires additional administrative steps, though workarounds—such as workflows or reverting to the old interface—can mitigate the issue. Stay updated on the progress on GitHub.
Leads
Understanding Leads in SuiteCRM
Leads signify individuals expressing interest in your offerings, marking a critical phase in the customer journey. They progress through stages like Marketing Qualified Lead (MQL) or Sales Qualified Lead (SQL).
SuiteCRM Targets vs Leads
While Targets are data records that have not yet been contacted, Leads are individuals who have expressed interest and entered the engagement funnel.
Leads come into play when potential customers have moved beyond the initial target stage, becoming the primary entry point for data within the CRM system.
There are several ways to manage this – integrating your e-commerce system, receiving web form submissions, or importing leads. For more on lead management and data entry specifics, check out my blog post detailing how data flows into your CRM system.
Alternatively, integrating a web form on your website with your CRM system is another common approach. This setup allows your sales team to promptly engage with incoming information.
Converting Leads
Examining a Lead’s structure primarily reveals a person’s details alongside valuable account information. Once a lead shows interest, you can either pass it to the sales team or handle it yourself using the Convert Lead action.
Create or Select a Contact
This process ensures a seamless transition, enabling you to create or select a Contact. If an existing contact is already linked to the lead, you can easily select the appropriate one. Otherwise, if no contact exists, SuiteCRM automatically populates the contact details from the lead.
Create or Select an Account
The next step in conversion is to create or select an Account. If the lead corresponds to an existing account, you can choose it from the list. For example, if it’s the second lead for the same account, simply select the correct account, such as “Grow-Fast Inc.” If no account exists, SuiteCRM will create one for you.
Create Opportunity
Following this, you can create an Opportunity. For instance, label the opportunity as “Request Product 1” and set the Sales Stage using the dropdown menu. Then, input essential details such as the expected close date, opportunity amount, and description.
You can also configure what’s required in this field. For a deeper dive into managing fields and dropdown values, watch my video guide on this topic.
Log Call
Next, log a call. Most likely, you’ve already had a brief introductory call with the lead, perhaps lasting around 15 minutes.
Schedule Meeting
After that, consider scheduling a meeting, possibly an online session for further discussions or follow-up presentations. This step is especially crucial if the lead requested more details or clarification on specific features you promised to elaborate on.
Create Task
To stay organized, create a task. For example, label it “Feature research.” Assign this task to yourself to ensure it’s not overlooked. Then, click Save to record the details.
Now, let's get into the philosophies surrounding SuiteCRM’s Leads module.
There are two main approaches:
- Convert Early - In my experience, certain projects aim to convert leads as quickly as possible, a common practice in traditional B2B sales processes. In such cases, leads are promptly assessed, and a decision is made: either the lead is deemed unviable and marked as closed or lost, or it holds potential and progresses to the next stage, such as becoming a marketing qualified lead or sales qualified lead.
- Convert Late - An alternative approach is to convert leads later, prioritizing clean contact and account records. In this strategy, accounts only represent companies or customers who have made purchases. The sales team primarily works with leads, converting them into opportunities, contacts, and accounts only when they qualify as hot leads – sales qualified leads ready for closure and transactions. This method is particularly effective in e-commerce when seamlessly integrating the e-commerce system with the CRM.
Convert Early or Convert Late?
Choosing to convert early enhances data availability but requires meticulous oversight by the sales team. Conversely, converting late maintains contacts and accounts as documentation repositories, which are crucial for later processes like invoicing and service requests, as most converted leads represent won opportunities.Bastian Hammer
Contacts
Managing Contacts within SuiteCRM
Contacts are the individuals within an organization with whom you’ve established communication, serving as a key element in CRM systems.
While leads represent potential prospects, contacts are those with whom meaningful interactions have occurred, integrating them into your ongoing customer relationships.
Contacts are a core module in CRM systems, encapsulating the individuals within a business or, in B2C scenarios, direct customers.
In B2C contexts, contacts signify the ‘Customer’ in CRM, offering essential details for billing and managing ongoing relationships.
In SuiteCRM, the Contact module acts as a direct continuation of the Lead module, seamlessly transferring all pertinent information. This ensures a comprehensive timeline, enabling you to revisit and track past interactions even days later—from initial phone calls to the ongoing need for feature research.
Such efficiency becomes invaluable during follow-up meetings. Having a detailed history of past calls and pending tasks like feature research supports a structured and effective approach to further engagements.
Accounts
The Accounts Module in SuiteCRM
Accounts in SuiteCRM represent companies or organizations. In B2B scenarios, they act as the counterparts to contacts, symbolizing businesses that may purchase your products or services.
In B2B contexts, accounts stand for the ‘Customer’ in CRM, highlighting the companies billed for your products or services.
In contrast, accounts are typically not created or associated with contacts in B2C scenarios.
The Accounts module provides a detailed view of contacts, leads, and opportunities, enabling users to choose between an account-focused or contact-focused workflow based on their preferences.
After completing tasks, users can seamlessly transition to the Task section, marking them as finished. This streamlined method ensures readiness for subsequent meetings. Whether it’s recording details, adding descriptions, or preparing for the next engagement, SuiteCRM’s platform facilitates a structured workflow.
Breaking down the philosophy of maintaining clean contacts and accounts, the approach is straightforward: categorize accounts exclusively for companies that have made purchases. This strategy ensures the sales team primarily focuses on leads, converting them into opportunities and eventually into contacts and accounts when they qualify as hot or sales-qualified leads.
This philosophy is especially effective in automated B2B processes, such as e-commerce integrations. Here, the distinction between leads and contacts is clearer. Leads represent individuals who haven’t made a purchase, while contacts and accounts are reserved for those who have.
Opportunities
Exploring Opportunities in SuiteCRM
Opportunities in SuiteCRM represent the potential to sell a product or service to a specific account or contact. They are an integral part of the sales pipeline, offering a transparent view of possible business ventures.
Opportunities are closely tied to Leads, Contacts, and Accounts, embodying the actionable phase where a potential sale is being evaluated.
They serve a vital role in the sales pipeline, delivering insights into potential revenue and supporting strategic decision-making.
Opportunities precede the quoting and invoicing stages, signifying the likelihood of closing a successful deal before financial transactions are finalized.
Recap
Let’s quickly recap the key points from this SuiteCRM overview.
We began by exploring “Targets” and distinguishing between SuiteCRM Targets and Leads. It’s worth mentioning that the Targets feature faces certain challenges, particularly in SuiteCRM version 8. While the development team is addressing these issues, it’s not their top priority. If you need to use Targets, consider alternatives like workflows or switching to the old view to regain the conversion option.
Next, we examined “Leads,” which are likely your main entry point for adding data to the CRM system. Leads mark the beginning of your sales pipeline or funnel. As the sales process advances, your sales team will typically convert a lead into a “Contact” and “Account,” effectively turning a lead into a person linked to a specific company.
This conversion process often includes creating an “Opportunity.” Opportunities in SuiteCRM are tied to leads, contacts, and accounts, representing a pivotal stage in the sales pipeline. They precede quotes and invoices, enabling your sales team to collaborate and thoroughly document the customer’s requests.
Mastering SuiteCRM requires a solid understanding of Targets, Leads, Contacts, Accounts, and Opportunities. While the current version has some limitations with SuiteCRM Targets, utilizing workarounds and focusing on Leads can help streamline your data entry workflow. From leads, you’ll progress through contacts and accounts, culminating in opportunities where successful deals are finalized.
