Sales Terms

Sales Leads

Potential customers, or persons that might be in the market for your product

What's Inside

    What are Sales Leads?

    A sales lead is a prospective customer.

    The term “sales leads” refers to the pool of potential customers, or persons that might be in the market for your product.

    A good number of these people will not eventually buy your products but you cannot spend all day talking with everyone either.

    You need to focus on getting rid of as many prospects as possible and this is where screening comes into play.

    How to Identify a Sales Lead?

    • They have an opening sentence that includes a high-level question such as "What is the price of your product?" or "I'm interested in learning more about how your service works. What can you tell me?". This tells us they are either prospecting for information to create their own solution, or they're ready to make a decision and don't want to waste time on discovery work. Either way, we've just identified someone who has already gone through the product details.
    • They're ready to make a decision and don't want to waste time on understanding more features & details.
    • They might ask you about your pricing or service level agreement.
    • They might ask about the differences between your product and competitors' offerings.

    Sales lead conversions can be measured by how well they convert over time, so pay close attention to what matters most to them as a part of this conversation.

    If you're still unsure if someone is really interested in buying after going through these stages, then it may not be worth their while for you to continue with the conversation any longer than necessary.

    The best salespeople know when it's time to move on because there are plenty more potential customers who will generate revenue at different points in the conversion funnel that haven't been touched yet