All organizations spend money and effort on generating leads. However, leads do not result in conversions until they make successful deals. The critical stage between capturing a lead and closing a deal is known as a sales opportunity.
Simply put, when a lead moves down the sales pipeline, it becomes an opportunity. Opportunity management is the process of monitoring all possible leads that can convert positively across the sales funnel.
Effective and structured sales opportunity management is vital for all kinds of businesses. You can track potential customers' movements and take the right actions to convert them to recurring revenue streams.
Opportunity management is a multi-faceted approach and has to be done right. Since most businesses have deals at various stages in the sales pipeline, it is challenging to gather real-time information about live opportunities. The opportunity management process gives you complete visibility into your sales pipeline to not miss out on potential loyal customers!