What does creating and managing leads involve in a sales environment?

Creating and managing leads is fundamentally about identifying potential customers who have shown interest in a product or service but have not yet made a purchase. In a sales environment, leads are the initial stage of the sales funnel, where sales teams focus on gathering information about potential buyers and qualifying these leads to determine their likelihood of becoming customers. This process includes researching prospects, understanding their needs, and beginning engagement efforts to nurture them toward a sale.

While closing deals with existing clients is a crucial aspect of sales, it relates more to customer relationship management than the lead management process. Similarly, forecasting sales trends and analyzing market competition are important strategic tasks, but they don't directly align with the processes of generating and managing leads. The core of lead management is rooted in identifying and nurturing prospective customers, making the first choice the most relevant and correct.