Difference between Lead, Contact, and Customer

The difference between a Lead, a Contact, and a Customer is explained below:

Lead

Contact

Customer

A Lead is a potential Customer, someone who can give you business.

A Contact is a person who belongs to the Customer. This is applicable in a business-to-business scenario, where you may contact multiple individuals belonging to the same customer.

A Customer is an individual or organization who has given you business.

A Lead can be converted to a Customer by selecting “Customer” from the Make dropdown. Once the Customer is created, the Lead becomes “Converted” and any further Opportunities from the same source can be created against this Customer.