Opportunity refers to a qualified lead that has progressed to active sales engagement, representing a realistic potential deal in the pipeline. In CRM systems, opportunities track deal details like value, close probability, stage, and expected close date, enabling accurate forecasting and pipeline management. Not all leads become opportunities; only those meeting qualification criteria and showing genuine purchase intent warrant opportunity status. Effective opportunity management involves understanding decision processes, identifying stakeholders, addressing objections, and moving deals systematically toward close.
Frequently Asked Questions
Qualifying a good sales opportunity involves evaluating key criteria using frameworks like BANT (Budget, Authority, Need, Timeline) or MEDDIC (Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify Pain, Champion). First, confirm the prospect has budget allocated and authority to make purchasing decisions. Second, verify there's a genuine need your solution addresses and understand their timeline for implementation. Third, assess fit by determining if your product solves their specific pain points and delivers measurable value. Fourth, evaluate engagement levels by tracking responsiveness, meeting attendance, and willingness to share information. Finally, look for positive buying signals like detailed questions about implementation or pricing discussions.
Qualifying a good sales opportunity involves evaluating key criteria using frameworks like BANT (Budget, Authority, Need, Timeline) or MEDDIC (Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify Pain, Champion). First, confirm the prospect has budget allocated and authority to make purchasing decisions. Second, verify there's a genuine need your solution addresses and understand their timeline for implementation. Third, assess fit by determining if your product solves their specific pain points and delivers measurable value. Fourth, evaluate engagement levels by tracking responsiveness, meeting attendance, and willingness to share information. Finally, look for positive buying signals like detailed questions about implementation or pricing discussions.
A lead is a potential customer who has shown interest in your product or service but hasn't been qualified yet, while an opportunity is a lead that has been vetted, shows genuine buying intent, and has entered your sales pipeline. In sales terminology, leads represent the top of the funnel (initial contacts), whereas opportunities are middle or bottom-funnel prospects actively considering a purchase. Opportunities have typically met specific qualification criteria such as having the budget, authority, need, and timeline to buy (commonly known as BANT). For example, when someone downloads a whitepaper, they're a lead; once a sales rep confirms they're actively evaluating solutions with a planned purchase within three months, they become an opportunity. Tracking the conversion from leads to opportunities is a crucial metric for measuring sales pipeline health and forecasting revenue.
