Hot Leads - Word of the day #26

A “hot lead” is a term typically referring to a contact who displays a strong intent to buy. A sales representative may classify a lead as “hot” after a strong initial meeting, or an automated lead system may tag a lead as “hot” when a prospect performs acts commonly associated with intent to buy, such as requesting a free trial or a meeting with a sales representative.

Other concepts related to Leads:

Junk Lead: A junk lead refers to a contact that may have shown interest in buying a company’s goods or services, however has been identified as not being qualified (e.g. not in a decision making position within their company or not in the right geographic region the company is targeting, etc.) and will no longer be pursued or invested in.

Lead Generation: Lead generation refers to the activities and processes carried out to find potential customers and their contact information (names, emails, addresses, company insights, etc.) in order to plan a future follow-up and introduction to a company’s products or services by a salesperson.

Lead Conversion Process: The lead conversion process describes the steps to be completed in converting a lead, i.e. a salesperson’s steps to create a Contact, Account, and/or Opportunity for the lead in the CRM system.

Lead Conversion Rate: The lead conversion rate is the number of successfully converted leads divided by total leads pursued (successful and unsuccessful) in a specific time period.

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