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here's a quick introduction to what an opportunity is and how to best manage them what is a lead a lead is a person or a company that you are yet to reach out to generally beads are obtained through top of the funnel marketing campaigns like newsletters blog posts social media and more what is an opportunity an opportunity or a sales opportunity is a qualified lead by qualified we mean people or companies that are evaluating your product or service let's say you own a marketing agency will call it prosper you send an email to a prospective client John John reads your email and wants to know more about prosper at this point John becomes your opportunity now that we've covered what an opportunity is let's talk about managing them opportunity management is probably the most important concept in sales we'll start off by mapping out the stages of your sales process think of the different steps you go through to close a deal here we are going to use the marketing agency as an example so for prosper you first acquire the contact info then follow up with them do on-site meetings send proposals and finally close a deal some people call this the old one let's say you have ten leads from a marketing campaign when you plan to followup with you called all of them and out of ten five of them wanted to know more about prosperous service and agreed to come by you then do on-site meetings with those five opportunities after the meetings only three out of five requested these proposals and finally two of them decided to go with you so you had to contact ten people in order to close two opportunities that means you're close right here is 20% the important thing to remember is not everybody is going to buy that's why we need this funnel to identify how many people we need to contact to make a single sale opportunity management organizes and streamlines your sales process the data you gather from it will give you great insights such as the reasons why people didn't end up buying your product the stages where the majority of your opportunities tend to get stuck the stages with the least likelihood of conversion and more this can also be used to forecast your sales and the number of deals closed helping you identify the number of leads you need in each stage to hit certain revenue goals these insights can help sales teams identify room for improvements thanks for watching you have any further questions feel free to visit prosper works com you