Is your sales team wasting time on leads that are still getting cold feet on making a purchase? Rather than spending resources on these leads, marketing and sales teams should work to better qualify leads so they are confident their prospects are on the path to making a purchase. Here are five ways to qualify leads.
How to Qualify Leads in 2018
Get marketing and sales teams on the same page. There is a big divide between qualified and unqualified leads and making sure your marketing and sales teams are aware of the criteria for qualified leads can save time and prevent wasted effort. Have a set list of criteria for qualified leads, such as which stage of the buyer’s journey they are in and any past engagements they've had, given to both teams. Marketing teams can then understand when they should pass on lead info, and sales teams can feel sure they are getting leads ready to close the deal.
Use a lead-tracking system. Lead qualification technology has come a long way, making a lead-tracking system essential to do business quickly and efficiently. One popular tool is HubSpot, which sales teams can use to view contact info, interactions and more. Through more comprehensive lead management, sales teams are armed with the data they need to educate them about prospects and how to nurture leads and turn them into customers.
Filter and organize leads. Additionally, lead management and sales enablement software allows companies to organize their lead info and filter down prospects, so they can contact the leads more likely to respond positively based on previous interactions or form responses. Prioritizing leads allows sales teams to follow-up with prospects faster, and speed makes a huge difference in lead qualification. According to HubSpot, the success rate to qualify a lead was 51.6 percent when the first call took place within 5 minutes of the initial contact. The success rate dropped to just 28.4 percent if the first call occurred after 24 hours.
Know the best times to contact leads. When dealing with web-generated leads, sales teams often contact these leads by phone to qualify them. However, certain times of day are better than others to make calls. Knowing when to call can boost lead qualification rates. In the Lead Response Management Study, based on leads who submitted their contact info on an online form, the survey found 8 a.m. to 9 a.m. and 4 p.m. to 5 p.m. as the optimal times to qualify a lead.
Stay up-to-date on trends in target industries. Finally, knowing the latest industry news will give insight into the problems your leads might be facing and how your products or services will be able to solve these issues, improving lead qualification. For example, industries may be expanding, resulting in a search for solutions on how to best handle this growth. Staying on top of trends is crucial to knowing your audience and how to speak to them effectively.
To learn more about lead qualification, send us a message or give us a call at 702-270-8772 today!