Leads are potential customers of a company. Lead records appear in CRM system as a result of marketing campaigns, press conferences, seminars, advertising etc. They can also be collected with the help of Lead Capture forms on the websites. Once a sales team has gathered more information and qualified a lead, it is moved to another stage of the sales cycle and eventually converted into an Account, Contact or Opportunity.
In fact, lead management is one of the most significant steps in the sales cycle, as it allows for gaining new customers. It is the responsibility of the sales and marketing teams to effectively organize the processes related to lead management including lead generation, lead capture, lead qualification, and lead conversion.
If you want to better understand the CRM terminology, we recommend you consult our CRM glossary that highlights key terms and definitions.