A qualified lead is a potential customer who has expressed interest in a product or service and has met certain criteria that make them more likely to make a purchase. This can include factors such as their budget, needs, and decision-making authority. Unlike a general lead, a qualified lead has been vetted and deemed a promising prospect by a business or sales team. They have shown a genuine interest in the product or service and have the potential to become a paying customer. Qualified leads are crucial for businesses as they have a higher chance of converting into sales and can help drive revenue growth.