Prospects and Leads



Prospects and Leads allow you to forecast upcoming business. In this article, we are going to show you how to utilize the Prospects and Leads in Point of Rental.


Topics in this article include
 

• What is a...
• Adding Leads to Point of Rental
• Changing to a Prospect
• Converting the Contract from a Quote to a Reservation
• Notes

What is a…

Before we begin explaining how to use Prospects and Leads, depending on your business, you may use them interchangeably or just one or the other. When you are using these think of a sales funnel or a pipeline to close the deal.



A Lead is a person or contact who is at the top of your sales funnel and hasn’t been qualified yet. They have made contact with your company in some way; they are aware of your business, and your business is aware of them. However, it is not yet clear how interested or viable they are as a paying customer.

A Prospect is a person or contact who has been qualified and is moving down your sales funnel. It is likely that this person would benefit from your product and they are already interested in it. A prospect is in your pipeline and has been identified as someone who is responding well to nurturing and is likely to buy.

Now that we have gone over the basics, let's talk about how to place them in Point of Rental.


Adding Leads to Point of Rental

You can add Leads from multiple places within Point of Rental. Under the Information tab, under status, you can change the status to Lead.




Changing to a Prospect

When you create a Quote with the customer, it will change it to a Prospect automatically. You can also do this manually by changing the status in the Information tab.




Converting the Contract from a Quote to a Reservation

Once the contract is converted from a Quote to a Reservation, the Prospect will automatically change to a Cash Customer. You can change them to On Account by going to the Customer File and adjusting their status.




Notes
 

• If a Customer is already a ‘cash’ or ‘on account’ customer, the prospect/lead settings will be skipped.

• You can set up a ‘Default’ customer so that all new customers will follow this process.

• If you start your customer off as a Prospect when a Quote is created the status will stay as a Prospect.