There is a big difference between an “Opportunity” and a “Qualified Lead.” Unfortunately, too much energy is wasted chasing opportunities. An “opportunity” is simply a sales lead for which we know there is a potential to make a sale. It means that we know that someone is looking for what we are selling, they are taking quotes, starting a project, or looking for potential suppliers. Too many times the information collected with these “opportunities” is enough to generate a quote, put them in the forecast, and demonstrate to the sales manager there is a potential sale on the horizon. In this example an “opportunity” is simply a bad shortcut that often ends up in more work and less effective results.
In this video we talk about the five components of a “qualified lead.” The biggest advantage associated with an effectively qualified lead is that the salesperson has established a foundation of information that enables them to develop and implement a sales strategy or plan for that opportunity. Knowledge is power. The information collected in qualifying process facilitates a more efficient sales process and a more effective close ratio.