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Qualify Leads to Close More Deals
Quality leads are hard to come by. Potential buyers come and go, but most do not cross the finish line. So, how do you decipher the lead that is just window-shopping versus the lead that is actually going to purchase? It is critical to qualify your leads if you want to close more deals and save your business time and money.
Qualified leads are those potential buyers that have not only shown interest, but also their intent and ability to make a purchase decision within a sensible timeframe. Qualifying a lead ensures that your sales team doesn’t waste time barking up the wrong tree, and instead spends time nurturing those that will end in a new deal.
Not every sales opportunity is going to end in a sale, which is why it is important to determine which leads are most likely to purchase when all is said and done.
Figuring out whether a lead is purchase ready is not rocket science. Here are a few tips that will make qualifying your leads and closing more sales a walk in the park.
Don't get blinded by the money
Not every single lead is worth going after. Yes, they may purchase right now, but what about in the long run. How is this client going to affect your business? Are they the type that is going to cancel or return within a week? Are they going to take up all of your support hours, and request constant “specials” or “deals”?
Sales people must remember that when you make a sale (for the most part) you are entering into a long-term relationship with this person. Just like dating, are they compatible? Is this relationship sustainable, and will it be consistently profitable?
So, now that we have determined that not everyone is right for you, how do you find out who is?
Are they a decision maker?
If you are chatting with someone who doesn’t even have the power to make a decision, then you are probably speaking with the wrong person and wasting valuable time. If you want to make a sale, you need to influence the decision-maker, or at the very least, someone who has great influence over the head honcho. If you are simply speaking to a salesperson with no power, then you will end up having the same conversations over-and-over. Start the sales process off right, and speak with the right person from the get go.
Ask the right questions
A good salesperson always controls the conversation, however not in an obvious way. They ask the right questions to understand whether the lead is a good fit. Instead of jumping right into your sales pitch, you have to make sure they want to hear it. Start by asking what issues they are having. What are their pain points? Tap into their emotions and get down to the basis of what they really need. Once you understand their needs, your can better see where your product/service is going to fit into their lives.
For example, at GreenRope, we do not just give out trial accounts willy-nilly, we like to speak with the lead before letting them into the system. This is not to be exclusive; it is to ensure that our platform will actually be a good fit for them. We then also go through a demo where we find out what features they are interested in, and guide them through a live demo based on their needs. This way we know that we are hitting their pain points, and showing them how GreenRope can make their lives easier, more productive, and more profitable.
Utilize lead scoring and predictive analytics
Take advantage of the technology that exists to make your life easier. Lead scoring is a great way to determine the level of interest of your leads. You can also gather demographic data that will let you know you are talking to the right person.
Predictive analytics is a hot topic these days, and luckily GreenRope is one-step ahead. Predictive analytics will tell you which of your leads is most likely to purchase based on past conversions. Scores are given to current leads based on the behaviors and actions of past purchasers. Using this intelligence puts your sales team a step ahead, as they already have an idea of the level of interest of each of their leads.
If you have been ignoring the lead qualification process then now is the time to start. Lead qualification can make a huge difference in your close rates, and ultimately, your revenue.