Are you looking for ways to find more quality leads, but you’re not sure how to determine which leads are quality? To make sure that you are investing your time on leads that are likely to turn into customers or clients, you need to have a lead qualification strategy.
Lead Qualification: 4 Ways to Qualify Your Leads
Keep reading our guide to learn how to qualify leads so that you can grow your customer base and your profits this year. Grow your business this year with these tips that can help you identify quality leads starting today.
1. Learn How You Can Be a Solution
No matter what your product or service is, your company needs to find leads that are in need of your solution. For this reason, quality leads will be those that have a problem that your product or service can resolve.
Finding out why a customer reaches out to you from the get-go is a great way to tell if you will be able to help them.
If a client needs to change their business and is looking for a solution you offer, they are likely to convert into customers. Becoming a master at business communication can help you get the most important information from your leads. Identify the business’s needs and then figure out if you can solve them.
If not, it’s not worth following through with the lead. This can cut down on tons of time that you may be spending following up with leads that will not convert, which can boost the efficiency of your business processes. On the other hand, if you can solve their issue, you will be able to send them in the right direction, allowing you to fast-track making a sale.
2. Find Out Why Now
It’s wise to figure out what issue the client is having but to go a step further, ask them why they are looking for this solution now. Likely, the discovery of an issue is not a new one. Did a certain event prompt the decision to seek out a solution?
This could be in the form of a market switch, a change in the company’s structure, or a change in leadership. Knowing why the lead is looking for a solution at this specific point will allow you to learn why a solution hasn’t been implemented previously. This lets you know how badly this company needs your solution, a key in developing quality leads.
If your customer doesn’t feel that your solution is important, they will likely not follow through with completing a purchase with you.
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3. Figure Out What Their Budget Is
The next step in qualifying leads is to get an understanding of the budget a lead is willing to dedicate to your solution or services. This will allow you to cut out leads that are looking for services much less expensive and small scale than yours, or on the other hand, if their project is too big for you to take on.
Additionally, if the client has not yet thought about or determined a budget for the project, they are likely not incredibly serious about it, making your conversation efforts a waste.
Settling on a number before you pursue with a customer can help you identify that the project is worth pursuing and that the customer has the ability to pay for the service. Often, clients already have a service similar to yours but are looking to upgrade or change direction.
If this is the case, you will definitely want to talk about their budget with them so that you can make sure they are willing and able to pay more for an upgrade.
4. Understand Their Decision-Making Process
In a way, lead generation is all about being able to understand and help customers navigate the decision-making process when it comes to getting new services or upgrading their existing ones.
Business owners know that each decision they make for their company is important, and they will not take important or expensive purchases likely. It’s normal for clients to have reservations regarding areas like their budget or certain criteria.
To lead them in the direction of a sale, one will need to offer reassurance to clients and offer them information that ensures them that you are a trusted solution to their business issues.
To do so, you’ll need to know what is holding them back from proceeding with a purchase. Ask them what, if anything, can help them make the decision and how you can help.
You can then work to resolve any fears or challenges they are having to speed up your conversion process. No matter how many leads you have, it’s important to make each quality one feel important.
If you’re speaking with a large business, you may need to even convince a team of people to trust your services.
To make sure you are building a connection and giving your attention to the right people, find out who will be involved in the decision-making process early on. Understanding the dynamics of the company can allow you to reach out to all of those involved in sealing the deal.
To learn more about lead qualification, click the link to learn about the BANT framework.
Lead Qualification: Tips and Tricks
To make the most out of your business efforts, lead qualification is a must. Make sure you are spending your time and energy on quality leads with these tips and tricks.
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