ABC of CRM

ABC OF CRM

Account

An account represents a company, organization, business or a similar concern that has many employees and personnel working in it. They could all serve as contacts at various levels.

Aa.k.a. Customer, Company

Other CRM terms starting with A - Assets, Analytics, Assignment Rules

B2B Customers and B2C Customers

Business to Business (B2B) & Business to Consumer (B2C) are the specific process that can be implemented in CRM. In B2B business processes the Account and Contacts working within those Accounts are separate entities. In B2C business process the Account and Contact are the same entities.

Ba.k.a. Person Accounts

Other CRM terms starting with B – Business Case, Business process

Contact

CRM Contacts are the individuals or people that your company will have or already has an on-going relationship. CRM Contacts may be qualified (from a Lead) as a potential contact for a sales opportunity at one point. Contacts may also have different types of roles in the Accounts.

Ca.k.a. Customer, Company, Persons

Other CRM terms starting with C - Call center, Channel, Campaign, Case, Community, Customer Lifecycle Management, Computer Telephony Interface (CTI), Customer Relationship Management (CRM), Customer Value Management (CVM), Customer Relationship Planning (CRP)

Dashboard

Dashboard is a term that is widely used to describe an application interface that provides users with quick access to information or common tasks often represented in graphs and charts. In CRM (customer relationship management) the dashboard is used by management users to monitor business performance and CRM data and reports are often shown in the dashboard to provide a quick and easy overview of current business performance using charts, graphs, and maps. A dashboard can be made up of various Dashboard Components and each component provides a snapshot of key metrics and performance indicator for your organization.

Da.k.a. Leader board

Other CRM terms starting with D - Demand Planning, Data Upload (Import), Data Export, Data Mining, Document Library, Dynamic Dashboard

Event

An event is an activity that has a specific start and end time/date. An example of an event is a meeting. (This is unlike Tasks that have only an end date/time).

Ea.k.a. Meeting

Other CRM terms starting with E- Email Template, Entitlement

Forecasting

Forecasts are the projections of sales based on the organization's fiscal year. Forecasts play a crucial part in the financial planning of your business. Sales forecasting may involve projecting both the short-term and long-term sales performance of a company.Sales forecasting can be an integral part of CRM and can be used along with Sales Quotas (Sales Targets) as a tool to make tactical sales decisions.

Fa.k.a. Forecast

Other CRM terms starting with F - Field Service

Groups

A group is a set of users that can be used to define data sharing access, give access to features, reports, and can be used for team selling, team support etc.

GAka: Public Groups, Account team, Opportunity Team, Sales Team

Other CRM terms starting with G - Goals

Hierarchy (Role Hierarchy)

Hierarchy in CRM helps in role-based security to control the access rights of users while working with CRM data and modules, such as leads, accounts, contacts, potentials etc. The Role-based security includes Roles, Data Sharing Rules.

HAka: Role Hierarchy

Other CRM terms starting with H- Help Desk

Influence (Campaign Influence)

Campaign Influence quantifies the impact of every campaign on opportunity creation and close; attributes a dollar value to each touch.

IAka: Campaign Influence

Other CRM terms starting with I - Incentive, Interactive Voice Recognition (IVR), Idea

Junk Leads

Junk Leads are the unwanted and useless leads in an organization that can be marked for deletion or archival.

Ja.k.a. Junk

Knowledgebase (Solutions)

Knowledgebase can give internal employees and customers easy access to information that is required to resolve a problem related to service or product. Knowledgebase consists of multiple solutions and one or more individuals in organization can review, edit, publish, and delete solutions.

Ka.k.a. Solutions, Knowledge based Support (KBS)

Other CRM terms starting with K - Key Account Management (KAM), Key Performance Indicators (KPI)

Lead

A Lead is a Person (and / or Company) that hasn't yet been qualified for your sales pipeline. Typically, these are contacts you make from networking, at tradeshows, seminars, ads and purchased lists (among many other places). When a leads become qualified, they can be converted to Account, Contacts and / or Deals. This process is referred to as lead management.

La.k.a. Prospect

Other CRM terms starting with L- Lead Management, Loyalty Management, Library (Content)

Marketing Campaign

Marketing Campaign is a specific, defined series of activities used in marketing a new or changed product or service, or in using new marketing channels and methods. CRM Campaigns help in tracking the effectiveness of marketing activities and determine the Return on Investment (RoI) on various marketing campaigns.

Ma.k.a. Campaign

Other CRM terms starting with M - Milestone

Networking (Social Networking)

The combination of social networking and CRM provides an enormous opportunity to enrich customer interactions and give businesses a way to manage and measure how they use social networking while successfully engaging social customers

Na.k.a. Social Marketing, Social Accounts & Contacts

Opportunity

Opportunities track your sales and pending deals. The opportunity is a deal that you have the possibility to close.

Oa.k.a. Potential, Deal

Other CRM terms starting with O - Opportunity Team, Opportunity Pipeline

Pipeline

A sales pipeline describes an approach to selling, founded on the underlying principles of the sales process. It describes the individual steps salespeople take from initial contact with a potential customer, or prospect, to qualifying that prospect into a lead, and further validating that lead into a sales opportunity followed through the different stages until closed.It is also user to refer the calculated amount of open opportunities that have a close date within the quarter. For managers, this amount includes open opportunities for them and their entire team.

Pa.k.a. Sales Pipeline, Funnel

Other CRM terms starting with P - Partner, Price Book, Partner Relationship Management

Quotes

The Quote is a record showing proposed prices for products and services that is submitted to Clients.

Qa.k.a. Proposal, Bid, Quotation

Other CRM terms starting with Q - Quota, Queue

Reports

A reports returns a set of records that meets certain criteria, and displays it in organized rows and columns. Report data can be filtered, grouped, and can be displayed graphically as a chart.

Ra.k.a. Analytics

Other CRM terms starting with R - Role, Return on Investment (RoI)

Service Request

Service Request is a detailed description of a customer’s feedback, problem, or question that can be used to track and solve your customers’ issues.

Sa.k.a. Case, Ticket

Other CRM terms starting with S - Schedule, Service, Solution, Sharing, Sales Force Automation (SFA), Strategic Account Planning

Task

Tasks Represents a business activity which is scheduled for a particular day. Tasks may have a due date or may not have a due date. Examples are - send a proposal, send an email.

Ta.k.a. To Do List

Other CRM terms starting with T - Territory, Tag

Users

Represents a user in your organization that is using CRM

Ua.k.a. Employee, Stakeholder

Validation Rule

Validation Rules improve the quality of your data by verifying that the data a user enters in a record meets the standards you specify before the user can save the record. A validation rule is used to enforce business rules or minimum requirements of data quality.

Va.k.a. Validations

Workflow Rule

Workflow rule or workflow is used to automate the business process. A workflow rule sets workflow actions into motion when its designated conditions are met. They are used to implement business rules.

Wa.k.a. Workflow

Other CRM terms starting with W - Workflow Action, Web-to-case, Web-to-Lead, Workforce Management

Data eXport&Import

Data eXport is the process to exports all or few records from your CRM for further processing or for back up. Data Import is the process to Import the records in a CRM entity like Lead, Contact or Account.

Xa.k.a. Import, Export

analYtics

Analytics is the set of features including Reports, Dashboards, Snapshots, Formula Fields and more. Analytics help the end users in analyzing an organization data and information to make better business decisions.

Ya.k.a. Business Intelligence, Reporting

Other CRM terms starting with Y – Year To Date (YTD) Reports

OrganiZation

OrganiZation is the company that has implemented CRM. Each deployment of CRM can have multiple end users (employees), its own customizations and data that belong to that organiZation

Z

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