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Key CRM Terminology Used at IDX

Contact

A Contact is an individual person associated with a company. Contacts are the most fundamental part of the HubSpot ecosystem and should represent any individual that is communicated with during the course of business.

Examples:

  • decision makers

  • buyers

  • prospects

  • current customers

Company

A Company represents an organization that IDX interacts with.

Companies can have multiple contacts.

Companies (called Accounts in Microsoft Dynamics) represent both potential and existing business and store all company relevant data as well as any associations between contacts or sales opportunities (deals).

Deal

A Deal represents a sales opportunity being worked by the sales team. These are simply called "opportunities" in Microsoft Dynamics.

Deals move through pipeline stages until they are either:

  • Closed Won

  • Closed Lost

A deal should be created for each sales or revenue opportunity that exists and multiple deals can be associated to a single company or contact or both.

Lifecycle Stage

Lifecycle stages track the relationship status of a contact or company with IDX. These only move in one direction. So once a contact or company moves to an opportunity, they would only move to customer if a deal moves to closed won. If a deal never closes, they would remain as an opportunity, even if they re-engage in the future or remain stagnant.

Examples include:

  • Lead

  • Marketing Qualified Lead

  • Sales Qualified Lead

  • Opportunity

  • Customer

Owner

An Owner is the IDX employee responsible for managing a record. Ownership permissions and editing access vary by role but play an important role in access within the system.

Owners may include:

  • sales representatives

  • account managers

  • marketing contacts

  • executive sponsors

  • account team members