This is my first post in series I will create as I revise for the MB2-713 certification. (Microsoft Dynamics CRM 2016 Sales)
The MB2-713 exam tests your knowledge of everything related to sales with CRM 2016.
In the coming days / weeks, I intend to produce multiple posts to help anyone preparing for the MB2-713 exam, initially covering;
- The sales lifecycle for prospects and existing customers.
- Review the opportunity entity.
- Revision around products, including pricing and of selling products (and services). Plus the product lifecycle.
- Use of goals.
- Sales Analysis using built in tools.
Having completed these areas, I will also then consider other items in the MB2-713 skills measured, including integration with other Microsoft applications. Such as SharePoint, OneNote etc.
If you are already familiar with CRM my initial posts will be basic revision but as the posts progress I hope to delve into some of the more complicated topics.
So let’s get started ….
Sales Management and Sales Entities
No two businesses operate in the same way! Each organisation has its own terminology or has differing ways to refer to specific business concepts / processes. Plus, it is important to recognise that Microsoft Dynamics is not the only tool the organisation will use. Microsoft Dynamics CRM is “just” a tool that helps facilitate a company’s sales management strategy. Because of this it is very important to understand the various components of the sales module to understand how they might be adapted to specific situations. And how in those situations CRM can be applied to differing business processes, goals and strategies.
When revising for the MB2-713 exam you are going to need to understand the following;
- Common customer sales scenarios
- Understand core entities and their use. (Including leads, contacts, account, opportunities, products etc.)
- Appreciate how sales literature might be stored and used in CRM
- Review how to create and maintain competitor information.
- Sales Territories
- Social Engagement
First of all, let’s look at some basic sales entity types;
|Basic Entity Types||Description|
|Accounts||Accounts should be thought as organisations. These may be customers / company’s that buy products / services from you. But accounts could also be
|Contacts||A contact is a person.
These may be individuals you sell to or may be related to accounts.
Note: Both accounts and contacts can be considered to be customers.
|Leads||Leads represent potentials, this could be a potential sale or a potential new customer.
Leads need qualification to determine their “viability”. (Known as the qualification process.)
Generally speaking, leads will be temporary, they will be converted into a account, contact and opportunity as / when required. Or marked as lost as not a viable potential.
|Opportunity||An opportunity is a potential sale it can be created by qualification of a lead.
An opportunity can be linked to an existing account or contact. Or a new one if qualified from a lead.
Opportunities can be open, won or lost.
|Quotes, Orders and invoices||These are the transactional records, typically relating to opportunities.
A quote is a formal offer.
An order is a confirmed request (quote).
An invoice is a record of billing against an order.
|Competitors||A competitor might be someone an opportunity is lost to. Or you might be bidding (quoting) against one or more competitors on an open opportunity.|
This brings us to the end of my first post of on the MB2-713 exam. Hopefully pretty simply stuff. Probably just simple revision for most people. But some revision never hurt anyone!!
In the next post I will look at business processes and how they apply to sales. J