If you’ve spent even a few minutes dabbling in the world of sales, then you’ve probably come across some or all of the following terms: leads, pipelines, and funnels.
Even though these terms don’t actually refer to, say, laying down a gas pipeline or baking a cake, they can seem just as complicated – if not more so.
Nevertheless, developing a concrete grasp of these concepts is essential if you want to up your sales game. Per the Harvard Business Review [https://hbr.org/2015/01/companies-with-a-formal-sales-process-generate-more-revenue], companies with a formal sales pipeline enjoy significantly higher growth rates and revenue than companies that fail to effectively manage this process.
Ready to master some foundational info about leads, pipelines, and funnels? Let’s dive in.
WHAT ARE LEADS IN SALES?
Put simply, a lead is a person or business contact who has the potential [https://www.leadboxer.com/resources/definition-sales-lead] to become a paying client or customer.