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SQO (Sales Qualified Opportunity)

A potential sales prospect that has been identified as having a high likelihood of converting into a sale, based on a thorough evaluation by the sales team. An SQO is a lead that has progressed beyond the initial qualification stage and has been assessed as a viable business opportunity ready for detailed sales discussions and negotiation. An SQO typically meets specific criteria, such as having a clearly defined need for the product or service, an appropriate budget, decision-making authority, and a defined timeline for making a purchase. The designation of an SQO helps sales teams prioritize their efforts, focus on high-potential prospects, and allocate resources effectively to close deals.

Related Terms

Customer Persona

A customer persona is a semi-fictional profile of an ideal customer based on data and research. It helps businesses tailor marketing, product development, and customer service by understanding needs, behaviors, and preferences.

Ideal Customer Profile (ICP)

An Ideal Customer Profile (ICP) defines the best-fit customer based on demographics, industry, size, and needs. It helps businesses target promising leads, optimize resources, and drive growth effectively.

Leads

Leads are potential customers who show interest in a product or service and provide contact info. They are categorized by interest, readiness to buy, and alignment with the Ideal Customer Profile (ICP).

MQL (Marketing Qualified Lead)

A Marketing Qualified Lead (MQL) is a prospect who has engaged with marketing efforts and meets criteria indicating a higher likelihood of converting, making them ready for further sales engagement.

Prospects

Prospects are potential customers identified by interest, industry, or needs. They are early in the sales process and prioritized based on their fit with the ICP and likelihood of conversion.
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