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Leslie, are you perhaps using a CRM system in conjunction with Marketo?
I just looked and I don't have a 'Prospect Status' field available which leads me to believe it's a custom CRM field. If that's the case it might be worth asking someone in your company who created the field.
Hope that helps!
Yes, we use Salesforce that has the 'Prospect Status' but where does the 'Lead Status' come from in Marketo. Is that an automatic change?
Ahhh ok, we use Salesforce too.
Lead Status is a standard Salesforce field that Marketo pulls over unless you tell it not to.
Typically lead status is used to describe where a lead is at in the sales process from not being contacted yet to a wide variety of custom stages your company can add to the list.
Do you actively use 'Prospect Status' in Salesforce or do you use 'Lead Status'?
Ok, that makes sense. We actively use 'Prospect Status' for what other fields key off of. Should we turn 'Lead Status' off? Do you use 'Lead Status' in any way that is different than 'Prospect Status'?
There's no real need to alter the 'Lead Status' field if it's not causing you any issues.
We use Lead Status in the same way you use Prospect Status, but at end end of the day they are just two different naming techniques. The only difference is that someone created it as a custom field in your company's Salesforce instance, where Lead Status is a standard field that comes with Salesforce (if I'm not mistaken).
Hope that helps!
So basically you just choose which field you want to use as the primary status. Thanks!
You got it!
Personally, we don't use the Prospect Status field, just the Lead Status. I do see how it could be useful to break the two up if you don't want/care for your sales reps to see what stage a prospect is in.. we just don't have a need for that.
On a similar note. What's the difference between "Revenue Stage" and "Lead Status"?
I just inheritated Marketo and am trying to clean up unnecesary fields. If the best use for "Lead Status" is the buying stage, should I just use revenue stage? Is anyone of you using both? If so, do you apply different values/options to each?
I would love some advice! Thanks!
Revenue Stage is for the Revenue Cycle Modeller if you use it.
With using it you can define stages like Prospect, MQL, SAL, SQL, etc on your criteria so you could also combine Lead Status with the Revenue Cycle Modeller. At the end it's up to you and it's hard to answer your question with a "advice". It depends on what you want to build.