A LEAD represents any person or organisation that a company might have the potential to do business with.
Lead Stage and Lead Status are often mixed up and confused with their meanings.
Lead Stage - This will help you determine how to interact with a particular lead. From the word "Stage" which means a point, period, or step in a process or development. This is the goal of every Lead Status in the CRM. Usually the Lead Stage, separates every Lead Status or shall I say the groupings of Lead Status.
The basic Lead Stage are most likely:
Hot - These are the new leads, fresh leads that haven't been touched yet. Usually the Lead Status that comes with this stage are Not Attempted, Validation etc.
Warm - These leads are already been contacted and this means that the lead is Active. Usually the Lead Status that goes with this are Attempted, Email Sent, Phone Follow ups, etc.
Cold - These leads are not active, means there is no movement on the lead. Usually the Lead Status that comes with this stage are Not Qualified, Record not updated etc.
Won - This is the main goal, these are the leads that are won by the Company and turn it into revenue. Usually the Lead Status that comes with this stage are Qualified, Accepted, Client Agreed/Sign up etc.
Lost - We don't want this on CRM but it has to be in there. These are the leads wherein client did not response to call, email, meeting or just simply the Company liquidate or the client backed out on a deal. Usually the Lead Status that comes with this stage are Client not Interested, Not Qualified etc.
Lead Status - The other standing of something. More likely a level or rank. Mostly use by the user/caller and serves as a report result on his/her action on the lead. This is the critical part on setting up a CRM, this is important because this will determine what is happening on your leads. So pick your values carefully.
The Basic Lead Status are most likely:
Not Attempted – You haven’t tried to reach the lead or did not update the record.
Attempted – You have tried to reach the lead whether via email, calls or meetings
Contacted – You have had a communication with the lead. On this status you can determine if the lead will be successful or not.
Disqualified – Never going to be a prospect for your product or service because this lead is the incorrect industry, company, contact or data.
List above are usually the blueprints of Lead Stage and Status but it is always up to you on how you want to name them.
IMPORTANT: Note/Remarks - This always goes with every Lead Status. The user/caller should always put notes which serve as a back up or detailed version of the Lead Status and explains how the result came up.