Like most things in life, quality is better than quantity. This is especially true when it comes to eCommerce prospects. The better you can identify quality prospects, the more efficient and effective your sales process becomes.
The first step to identifying the prospects that deserve your attention most begins with knowing the difference between a lead and an opportunity. They’re definitely not synonyms.
Here are three big differences between the two.
1) Willingness To Address A Need
We all have problems, right? We all have needs, and it’s no different for etailers. It’s not the need that differentiates opportunities from leads, it’s the willingness to address the need.
In some cases, even if a lead is aware of a problem, he might not be interested in trying to solve it. For example, if a problem has persisted throughout their organization for years and they’ve adapted to it, they might think it’s more troublesome to address the original problem than it is to keep the status quo.
An opportunity, on the other hand, is ready and willing to fix their issues, making them much more valuable to you.
2) Target Market Fit
My guess is that your company has a client sweet spot—the perfect-sized etailer with the perfect-sized budget that requires the perfect amount of resources to get the best return on investment.
While leads come in all shapes and sizes, opportunities fit the mold of your target market. If you’re used to dealing with mid-sized etailers with a well-established online presence, a two-person startup might not qualify as a solid opportunity even though they contacted you for more information.
3) Knowledge Level & Intentions
Leads want to learn more. They want demos, whitepapers, webinars, and all the information they can get about your current and former clients. The intention of a lead is not to make a deal, it’s to collect as much information as possible.
A tier higher in terms of the knowledge level of your products and services are your opportunities. Their intentions aren’t information collection; they’re seriously considering working with you. They probably have most (if not all) of the information they need to make a decision. It’s more a matter of whether or not they think the partnership is a good fit.
It’s important to understand the difference between a lead and an opportunity so you aren’t spinning your wheels with some etailers and not giving enough attention to others.
Do you know enough about your eCommerce leads to determine their value? See how etailinsights can help you get to know your prospects even better!