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Open Deals

KPI

Open lead is one in which your prospect has expressed interest in what you have to offer.

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What are Open deals or sale opportunities?

Open deals or sales Opportunity is a prospect who expresses interest in buying your products or services but has yet to decide whether to purchase them. It's an excellent time for the marketing team to reach out to the lead as they're actively looking at solutions and thinking about whether your product will work for them.

Leads are people who show interest in your solution and come from various marketing activities done by the team. Anyone interested enough to sign up or request a demo is considered an open lead. Open leads have a high potential of becoming customers, as they've found your product to be the solution to their problem. 

Open Leads is sometimes also called Marketing Qualified Lead (MQL).

Characteristics of Open deals

Sales opportunities are somewhat of an enigma: they could occur anywhere, and we often only know if a stranger is interested in buying once they make the first move. They're unlike customers—but it's possible to find sales opportunities among them.

  • They express interest in your solution: Open leads express their interest in your product or solution through various methods like trying your free trial or free product, Booking a demo, or connecting with a salesperson to discuss more about what you provide.
  • They have a problem and are looking for a solution: You know that this person is experiencing pain and would like to fix it—presumably by using your solution.

Open deals or Sales Opportunity is one of the top 20 sales KPIs every SaaS growth teams should measure in 2022.

What are the stages of open deals?

There is no one-size-fits-all solution when it comes to the sales process. Each business has its own set of criteria to determine sales opportunities.

Here are four stages of sales opportunities.

  1. Prospect: The first is the prospecting phase when trying to find new clients.
  1. Engage: The second is the lead phase when you've found a potential client and are trying to build up their interest in your services.
  1. Qualify: The third is the qualification stage, where you determine whether or not this client requires your services.
  1. Convert: Once you are confident that the open lead is perfect ICP with a budget, then the lead moves to its final stage where we need to close the deal and move them to the customer.

stages of open deals

Open deal is one of the essential metrics every sales leader should measure in any CRM like HubSpot CRM, Salesforce, and Pipedrive.

What is a qualified lead? 

Many different pieces of information can be used to qualify a lead, but there is no universal "sales process" for every business. The sales process is different for each company because every company has a different set of criteria determining how qualified a lead is.

Alan Morton , CEO of SBR, says, "qualifying is a continuous activity throughout the sales lifecycle; it's not a one-off step early in the process."

It is entirely up to you and your sales team how you qualify a lead,

A qualified lead is a prospect who fits your company's ideal buyer persona in size, budget, need, and timeframe. The first step of any sales process should be to qualify that prospect or not. A disqualified lead (a person who doesn't fit any requirement like budgeting or your target group).  If they are potential ICPs but not interested in your solution now, they can be moved to lead nurturing.

How to visualize Open Deals in dashboard?

Take a look at the data visualization for more on how to track Open Deals in a Dataflo dashboard.

open deals in dataflo dashboard

Frequently Asked Questions
What are open deals?
What are the stages of open deals?
What are the characteristics of open deals?
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