Marketing Opportunity Definition
When you have a lead that needs your products and services, they are a marketing opportunity. Generally, marketing opportunities are passed along to sales. It is then up to sales to determine if a marketing opportunity has the budget and authority to buy.
Marketing Opportunity Example
Imagine that a business has a contact form on their website. Rather than asking for the visitor’s contact information only, the business has implemented a few extra drop-down menus, each intended to further narrow down the needs of the prospect.
Based on the selections made, the business can automatically forward the inquiry to the appropriate department or personnel (“I’m interested in X product” and/or a priority of high, medium, or low). This can even determine to whom the message is sent—for example, technical support emails won’t be lumped in with sales inquiries.
If the prospect is shown to be a viable marketing opportunity, the business can approach them in such a way that maximizes the possibility of a sale.
Why are Marketing Opportunities Important in Strategic Marketing?
- Customer Experience
- Customer experience or CX describes the entire relationship between a customer and a business, even before that person decides to make a purchase. Being able to identify marketing opportunities and respond to them will therefore improve the customer experience—you’re giving them the information they need, when they need it.
- Closing Sales
- The ability to positively identify qualified marketing opportunities is a key element in closing sales, regardless of industry. Once identified, sales representatives can approach the lead with better information about their needs.
