Following up an opportunity means performing activities in an effort to convert a business opportunity to a business deal. These follow-up activities can include attending to inquiries from prospective customers; demonstrating or informing them about various offers, products or services; and asking them questions about their specific requirements, based on which you can formulate and inform them about the best deal for them. The aim of follow-up activities is to generate interest in prospective customers about your offerings.

If the follow-up activities related to a business opportunity succeed, the next stage of opportunity management follows. If follow-up activities fail to generate enough interest in prospective customers, the business opportunity can be considered as lost or dead. Thus, it is important to record the response from prospective customers to identify and focus activities for good business opportunities.