How to use Zoho CRM for a chamber of commerce/business association

Hi everyone. I'm involved in starting up a chamber of commerce and wondering if/how Zoho CRM could work for this. There is some software out there specifically for chambers of commerce and business associations, but none of them have an entirely free model, which is what we need right now as we have very little revenue/budget. So I was looking at using Zoho as a way to organize or contact database and track our relationship with those contacts.

As a chamber of commerce, we are interested in attracting members, sponsors, and partners. As we meet people and identify businesses and organizations, we enter them as leads. Then, if they are interested in becoming a member, sponsor, or partner, I would convert them them to account (business or organization), contact (specific contact person), and potential (member, sponsor, or partner). Correct? And after they come a member, sponsor, or partner, what then?

Is there anything else I should consider for customizing Zoho for our model?

Thanks,

Ryan