- Hi, in this video, I'm gonna take you
through the difference between a cold lead,
a warm lead, and a hot qualified lead
so that you can see the whole journey
from what I call the tadpole
all the way through to a giant frog.
(upbeat music)
Hi, my name is Matt Elwell of the Elite Closing Academy.
If this is the first time
that you're listening to me on this channel,
make sure you press the subscribe button
and hit the notification button.
And during this video, I'm gonna clear something up.
For salespeople, this is a problem,
and let me tell you about the problem.
The problem is lots and lots of people
struggle to differentiate between a cold lead,
a warm lead, a hot lead.
When should I be serving?
When should I be selling?
And when should I close the lead?
You know, what's the right thing to do.
So, let me show you exactly the scale of a pipeline.
If you see it as the very first time a prospect
comes into your pipeline
to the time they actually make a purchase,
and before I can really go into this train,
and I think one of the most important things
you can do is what is your data on this.
Find out, go through all records.
Look at your computer, your CRM.
Look at any details that you've got, payments,
how long in general do people take
from the moment they first meet you, read a book about you,
click on a link about you, hear you speak on a stage,
hit some marketing, see something on Facebook.
From the first time they see you,
how long does it take them to become a paying customer?
Now there is a universal process for this.
And most people take a roundabout 12 steps.
We actually call them contacts
before they actually become a purchase or a buyer.
And actually between one and five
is the time when I believe you should be doing the most
of your prospecting.
This is where you're nurturing.
You're giving enormous value.
This is where serving lives.
This is where you should serving people
at a very, very high level.
So, lots of information, position your price.
Give really good content.
Give great value.
And as the journey begins, you start to get to a point
where people are ready to buy after five contacts.
The next part is very much roundabout, understanding them.
So again, it can take time
to really understand what your prospect needs,
really understand what pains they've got,
what resource or impact those pains are having
on their results.
And this is a place where you've gotta sell,
and you sell by asking hard, high-quality questions.
And this is where people become warm prospects.
This is where people understand you already.
They know you.
You know a bit about them.
And this is where closing starts.
Now a lot of people try and take a cold lead up here
and close it using persuasion before you've understood,
before they really realize who you are,
what your business stands for.
So it's really important that you understand the process
that works for you and your business.
But the first bit is very much about qualification.
It's very much about prospecting, asking lots of questions,
giving lots and lots and lots of value.
And then you start to get to a point
where the prospect becomes warm.
There's more trust between you.
And that's where you can get into a point
where you come to the last bit, which is all about us.
This is where the close lives.
Now understanding this process is absolutely critical.
We're taking somebody who's a very cold lead
all the way through to this bit here
where they're a hot qualified lead.
What does that mean?
It means you understand them.
You know what their pains are.
You know what the results or the,
as a result of having the pain, what's actually going wrong.
You know what needs to be put right,
and they now see you as a solution to the problem.
They know your prices.
They understand the products that you've got
that solve the problems that they've said they've got.
And this is where you get into a hot qualified lead.
I have a strategy called open with a close,
which is a 12-point system that you use at this point.
The success rate is enormous,
and the first thing you've gotta understand
is taking your prospect through a journey
to get them to the moment
where they are a hot qualified lead, ready for you to close.
If that's been useful, click on the subscribe button
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And don't forget to click on the videos above
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