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Every salesperson wants to close more deals.
But whether the deal will be closed or not
directly depends on how well you qualify your leads.
That’s why in today's video we’ll talk about lead qualification,
why it’s important and how to correctly qualify your leads.
Lead qualification is the process
for identifying whether or not a lead is a good fit for your product or service.
The purpose of it is to gather all the information required to contact your lead
and tailor your product presentation to their business needs,
that helps increase the conversion chances.
Without qualification,
you can spend endless hours talking to hundreds of leads trying to convert them,
but close only one or two deals.
So, if you want to significantly increase your deal closing ratio,
you need to take lead qualification seriously.
After all, it helps devote more time to the prospects that are more likely to buy
and create a much more personalized sales approach, delivering a better solution
Lead qualification starts right after lead generation,
when your sales or product team pools together all the collected leads.
So how to start lead qualification process? Let's take a look.
Define your ideal customer profile
Does your lead match your ideal customer profile?
Well it should!
The ideal customer profile represents a detailed description of a client
whose pain points your product solves.
This includes: What industry are they in? What is their company size?
Where are they located? And so on.
The ICP will help you decide whether or not the lead is “just right”
for your solution.
To learn how to create an ideal customer profile,
click on the video in the top right corner or
follow the link in the video description.
Identify your customer`s needs and goals
It’s crucial to identify what needs can make your customer reach out to you
and what goals they may want to achieve using your product.
It will help you not only understand your client and provide a better experience
but also figure out whether they are a great fit for your business.
Explore your competition
Are you currently using another solution?
What didn’t work for you in your current solution?
What would you want a new solution to have for you to switch from the current one?
These questions will help you define
which products similar to yours your client already uses
and identify the level of dissatisfaction and readiness for a change.
Determine the decision making process
Who else is involved in the decision making process?
Who are the people that make the final decision?
What concerns will these decision-makers likely have?
The answers to these questions will help you define the next set of actions
and wash away any concerns that may occur on the customer's way to saying “Yes!”
But remember - lead qualification is more about homework
and less about interrogating your potential customer.
During the call you should ask only truly important questions.
At this point, knowing your customer’s needs and goals,
the competitors they use or may be considering, their decision-making process,
will help you not only to generate the right sales approach
just for that lead but also understand whether this lead is worth your time.
Create a lead scoring system
Lead scoring system can make it easy
for the sales reps to detect high-priority prospects really quickly.
Typically scoring systems are based on a 0 to 100
point scale that indicates how prone the prospect is to purchasing.
The higher the score, the more likely a lead is to become a paying customer.
You can create a lead scoring system based on your ideal customer profile.
Each feature has a certain score.
For example, your target buyer is a decision-maker of a mid-sized tech company.
In this case, your scoring system might look something like this:
Effective qualification is the key factor of successful sales and business overall.
Highly qualified leads will not only convert faster
but also have a higher average order value, making your business grow.
Hope these tips help you create
an efficient qualification process that will boost your sales.
Don`t forget to check out our video on how to create a lead scoring system.
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See you!