Lead Conversion
A lead's life cycle ends either when a lead is converted to a sales opportunity, or when the lead is retired. Conversion to an opportunity stage allows the sales representative to pursue the account in the sales cycle.
After establishing that the lead has potential, the sales representative converts the lead to an opportunity. Contact is established and meetings and presentations are scheduled to move the opportunity along the sales pipeline.
To convert a lead to an opportunity depends on the privileges assigned to your role, your access level as a lead sales team member, and the current status of the lead. You can convert a lead to an opportunity from the Actions menu by selecting Convert. This action creates an opportunity based on lead information. When a lead is converted to an opportunity, the lead status is set to Converted.
Leads to Opportunities Conversion
You convert a lead to an opportunity when the lead is ready for further processing along the sales cycle. Once the conversion is successfully completed, you can review the newly created opportunity using the opportunities UI. During your review, you might want to retain only a select few lead product lines to pursue as opportunity revenue line items. Since the conversion process automatically creates revenue lines from all lead lines, you can remove unwanted revenue lines from the opportunities UI. You can, at a later stage, create another opportunity from the removed lead revenue lines by converting the lead to an opportunity again. You can then decide to keep only those revenue lines that you want on the newly created opportunity.
When you convert a lead to an opportunity, the following rules may apply depending on the setup criteria for your company:
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The person converting the lead becomes the primary sales team member for the opportunity.
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The customer reference on the original lead is maintained for the opportunity.
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The associated lead team members are copied with the same primary team member.
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The newly created opportunity is assigned to the appropriate sales territories.
You can view opportunities associated with leads in the leads UI. If you don't see the converted lead in your list of opportunities, this means that the opportunity is assigned to a different territory.
Convert Leads Using a Smart Action
You can take actions on lead items from your list of lead records by using the Actions menu (three dots on the right of the item) on the My List for Leads page. For example, you can use the Convert quick action to covert a lead to an opportunity. From the Convert Lead window, you can change the opportunity name, enter an account and contact, and reassign opportunity ownership. When you click Submit, the application creates the new opportunity and you can view it from the Opportunities UI.