What is a "qualified sales lead"?
A qualified prospect is a sales lead and has three attributes:
1) A need - a highly-qualified prospect needs your product or service now or relatively soon. For example, if you sell widgets with an average lifespan of three years, a good prospect is one who owns a two-year-old widget, not a contact who bought a new one last year.
2) A sufficient budget - a qualified prospect has the budget to buy your product or service. Don't waste your time pursuing a contact who truly can't afford to buy what you're selling or a company that has used up its yearly budget.
3) The authority to buy - a good prospect has the authority and is prepared to take action. The simpler and more efficient their decision-making process is, the better your opportunity of closing the sale.
Prospecting is the first step in the complex selling process. A prospect is a qualified person or business contact that has the potential to buy your product or service. A prospect should not be confused with a "sales lead."
The name of a contact or business who might be a prospect is referred to as a potential sales lead. A sales lead can also be referred to as a "suspect," indicating the contact or business is suspected of being a prospect.
Once the lead has been "qualified," it becomes a prospect. In other words, a "sales lead" is a suspect, whereas a "qualified sales lead" is a prospect -- and there's a BIG difference between the two.