What is the difference between lead, contact and opportunity?

The difference lies in how you qualify the leads. Let’s look at the simplest lead qualification process in the diagram below:

What is a lead , contact and opportunity

Leads:

This is the first stage. A lead is someone who can be trailed to convert into a business opportunity in the future. Marketers generate leads on regular basis and feed them to the sales team.

 

Contacts:

A lead is considered to be a contact when a direct two-way communication starts. So, when the lead expresses interest and the salesperson actively follows up, it becomes a contact. A contact can even be an old customer, or a friend who is in a position to influence your target company’s buying decision.

 

Opportunity:

The advanced stage of the contact. As the name suggests, a sales person sees the opportunity of the closure. Here, the discussions are in final stage – about pricing, terms of service, competitors evaluation etc.

So, I hope the difference between these simple terms is a little clearer now!

 

In the next chapter, we will discuss lead generation, its different components and how can you master it.

 

Go to Chapter three

 

 

Capture Leads from all your Online and Offline Channels

Know more about LeadSquared in a 30 minute online demo contact me