What is a lead? In a broader term, a lead is an entity that identifies your buyers. Simply put, it is a business or an individual who has the potential to become a customer.
Leads play a pivotal role in the sales process as they are actual buyers of services or products. There are many different techniques used to generate leads, some of which are email campaigns, advertising, and other marketing efforts that help companies gain contact data of their prospects.
Although leads may transform into customers, at the initial stage, they are not yet your sales “prospects”. To turn a lead into a prospect, businesses need to examine and evaluate their leads. There are several different labels that define lead including Sales Qualified Lead (SQL), Sales Accepted Lead (SAL), and Marketing Qualified Lead (MQL). Defining the qualification of every lead allows businesses to determine the level of their interest and intent.