What is generating qualified leads?
The phrase "how to increase your conversion rate" has been around for as long as I've known about online business. This simple statement describes what happens when someone clicks on an ad or visits a website and makes a purchase - they're converting. While it's true that there are many ways to improve this process (and we'll discuss those later), one of them is getting more people who actually want to buy from you to visit your site or click on your ads. It seems like common sense, but surprisingly few marketers have ever articulated this very basic concept.
In fact, some would say that most businesses don't bother with finding out if their target audience wants their product or service because they assume they already have a list of targeted prospects ready to buy at any time. But what if that assumption was wrong? What if there were other potential customers available to you right now? What if, by tapping into various sources of traffic such as social media networks, email lists, search engines, etc., you could build relationships with these prospective buyers before they even knew you existed? Wouldn't that make it easier to close deals quicker than trying to cold call everyone all over again? Of course! And while it might seem like just another example of throwing money away on advertising campaigns that never pay off, it turns out it works much better than you think...
So let's define exactly what qualifies as a qualified lead. As mentioned above, it's not always easy to determine whether or not someone will convert once they see your offer. Here are some clues that may help you assess which leads are worth pursuing further:
1) The person reading your content or watching a video probably doesn't care about your brand. They likely won't take action based on your message alone. If you're selling something related to sports, then maybe that's okay. But if you sell a lifestyle product and haven't built up rapport yet, chances are high that you're wasting valuable resources chasing after people who aren't interested in buying anything from you. Instead, focus your efforts on building strong connections with people whose needs match yours. That way, even if they don't end up making a purchase today, they'll remember seeing your name somewhere else in the future.
2) You might consider using Google Analytics to track visitors' behavior patterns so you have data points to work with. For instance, if somebody visited your page and left immediately without taking any actions, it's unlikely that they'll come back anytime soon. On the flip side, if they clicked through to your landing pages and took some form of action, then they're definitely looking for what you're offering. Use this information to decide where to allocate your energy. Focus on creating content that encourages that type of visitor to keep coming back.
3) A good rule of thumb is to ask yourself why someone would be interested in your product/service. If they wouldn't use your product themselves, then it's safe to assume they're not going to buy it either. However, if they'd benefit greatly from having access to your product, they're probably someone who would appreciate your offers. Keep in mind that this isn't always black & white though. Some products cater towards certain types of users, meaning that they're not ideal for everybody.
4) Even if you believe that the prospect is willing to make a purchase, he still hasn't made a commitment. Remember, a sale is only complete when both parties agree to terms. So until you have a signed contract, you shouldn't waste too much effort thinking about closing the deal. Also, if you're going to invest significant amounts of your own cash in the transaction, it's best not to risk losing it. Investing in a customer should be considered a privilege rather than a requirement.
5) Don't forget about referrals. People love giving recommendations to others. Just because someone didn't buy from you directly doesn't mean she won't happily refer you to her friends and family members. After all, it's human nature to give credit where credit is due.
6) Finally, don't underestimate word-of-mouth. When one person tells his friend about a great thing he saw, heard, read, or experienced, that friend is far less likely to pass along negative feedback since he knows that he himself had nothing to do with the experience. Word-of-mouth is priceless and you should leverage it whenever possible.
Now that you understand what constitutes a qualified lead, let's talk about how to get them. There are two parts to this question: attracting qualified leads and capturing their attention. Let's start with the first step.
How do you attract qualified leads?
If you run a small startup company or operate under strict guidelines dictated by your bank account, you may feel limited when determining which channels to utilize. Luckily, there are plenty of options available to you. Many of us spend our days glued to Facebook, Twitter, YouTube, LinkedIn, Pinterest, Instagram, Snapchat, Tumblr, Reddit, Blogger, WordPress, etc. These sites provide excellent opportunities to create awareness among specific groups of people. With a little creativity and research, you can also tap into niche communities that share similar interests and passions. Take advantage of free events hosted by local organizations, conferences, meetups, or trade shows to gather new contacts and gain exposure to a wider range of audiences. Social media marketing can also play a vital role in promoting your business, particularly if you choose the correct platforms.
Email marketing is another effective method for reaching out to new subscribers and establishing trust between you and your client base. Send relevant emails tailored to each individual subscriber's preferences, and follow up regularly with promotional announcements. Be sure to include a clear opt-out link in every communication so that people can easily unsubscribe if necessary.
Finally, you can also reach out via direct mail. Although direct response marketing is often frowned upon by ethical marketers nowadays, it remains an important tool for gaining traction with consumers. Consider sending letters that highlight your expertise, special services, or unique offerings. You could also try adding a physical component to your campaign such as postcards, catalogs, flyers, coupons, etc.
Overall, however, social networking websites remain king when it comes to driving traffic to your site. In addition to being cost efficient, engaging, and highly customizable, these tools allow you to establish meaningful relationships with your followers and promote your brand without spending a lot of money upfront.
How do you get qualified leads?
Once you've attracted a large number of interested clients, you need to capture their interest and convince them to become loyal customers. To accomplish this goal, you must ensure that your messages resonate with your audience and that they respond positively to you. It's no secret that successful brands tend to stick together, so you need to find creative ways to encourage interaction between you and your existing customers.
Social media networks are perfect for spreading positive vibes across your community. Share interesting articles, videos, pictures, and blog posts featuring your products and services. Make it easy for readers to connect with you by including links to your website or contact info in each piece of content. Your fans will notice and reward you with engagement. Once they recognize you as an expert in your field, they'll be more inclined to listen to your advice when problems arise.
Another option is to send newsletters periodically to remind them of your existence. Again, you'll want to make it easy for them to interact with you by including links to your homepage, blog, or FAQ section. By doing so, you'll be able to quickly identify individuals who are truly engaged with your brand and develop a relationship with them.
To increase conversions and drive revenue growth, you should strive to implement multiple strategies throughout your entire marketing plan. Depending on your budget, goals, and objectives, you may choose to combine several methods or rely solely on one strategy. Whatever approach you select, make sure you stay consistent and measure results frequently.
How can qualified leads be improved?
A well-rounded program will consist of elements ranging from traditional offline marketing tactics to cutting edge technologies. The key factor is that your efforts should be focused on producing tangible outcomes, especially in regards to improving your bottom line. For starters, you should look closely at your current marketing practices and evaluate whether or not they align with your overall vision. Are your campaigns working effectively enough to justify the expenses involved? Do they produce sufficient ROI? Is your team sufficiently trained to manage everything properly? Are you satisfied with your progress? If not, it's time to reevaluate what you're doing and adjust accordingly.
You'll also want to conduct thorough market analysis to pinpoint areas of weakness. For instance, if you lack a solid understanding of your competitors and industry trends, you'll struggle to compete successfully against them. Therefore, you'll need to learn more about them. Once you acquire this knowledge, you can devise a comprehensive plan of attack that gives you an edge over your competition.
As previously stated, social networks are powerful tools for driving traffic to your site. One of the easiest ways to leverage this power is to join popular communities and participate actively. Join forums dedicated to topics relating to your product lines and engage with others. Post helpful comments and answer questions as appropriate. Show your expertise and earn respect in return.
The phrase "cold call" still conjures up images of an old school salesman trying to sell his wares. But what if we told you there was another way to get your business noticed and make new connections? What if instead of making cold calls or sending emails out into the world, you could leverage all those social connections on LinkedIn, Facebook, Twitter, Instagram and Pinterest to help build relationships with potential customers who might be interested in buying from you someday? This type of approach would not only save time but it will also allow you to focus on building better relationships with people who have already expressed interest in doing business with you. That's where this article comes in...
What is qualified leads?
Qualified Lead - The definition of Qualified Leads as described by Hubspot is "a person who has demonstrated their willingness to hear about our product." These leads can come through direct mail, email, phone calls, etc.
Unqualified Lead - A Unqualified Lead may be someone who hasn't heard of your company yet, they've never done business with any other company like yours before, or they're not ready to buy right now. They don't need the same kind of attention because they aren't looking for anything specific at this point.
When referring to a qualified lead, many marketers refer to them as warm leads. Warm leads are prospects who have shown some level of interest in hearing about your offering, even though they haven't made a decision to purchase just yet. For example, these folks have visited your website, clicked on one of your blog posts, shared your content via social media, etc.
Why use qualified leads over unqualified ones? Because when you target a qualified lead, you're going after a prospect who is likely to convert. When you send an email campaign to 100 people who say they want your offer, only 5% (5%) will actually click through to see what you have to offer. If you were targeting 10 qualified leads instead, then 25% (25%) of those contacts would open the link and 8% (8%) would click through to the page. Not bad!
What is a qualified lead in sales?
A qualified lead in Sales is defined as follows: "A buyer who has been prepped to purchase from us". So why does this matter? It matters because most sellers believe that they should spend 80% of their efforts chasing down hot leads. While this strategy works for certain products, services and businesses, it doesn't work very well for others. For instance, let's take a look at software development firms. Software engineers tend to move around quite often so unless you have a really strong relationship with each engineer individually, chances are good that once they leave you'll lose contact with them altogether.
So how do you develop quality relationships with buyers who regularly change jobs? By first finding ways to demonstrate value to prospective clients. You must show that you understand the challenges they face and that you provide solutions to their problems. Then you must give them reasons to choose you over everyone else. Once they start talking to you, ask questions which uncover the needs behind their decisions. Finally, when you meet, listen closely and respond quickly. Remember, if you wait too long to ask questions, it won't go well.
What is a qualified vs unqualified lead?
In general terms, a qualified lead is a lead that is worth pursuing whereas an unqualified lead isn't. To put it simply, a qualified lead is a prospect who wants to talk to you while an unqualified lead says nothing and therefore no longer seems relevant.
For example, imagine that you own a small home repair shop. One day you receive a letter in the mail from a man named Mr. Jones. He writes in a friendly manner asking about your prices and service options. He asks a few brief followup questions such as whether he should hire you to fix something in his house or not. After reading the letter, you decide to reply to him in order to learn more about him and to establish a rapport. However, rather than responding immediately, you schedule an appointment with him to visit his home and discuss his concerns further. And guess what? As soon as you arrive at his home, he tells you that he's decided not to hire anyone to perform repairs. Why did this happen? Because he didn't feel comfortable enough with you to tell you that he wasn't interested in hiring you. Because he hadn't established a solid enough connection with you prior to meeting you. An unqualified lead is a lead that you wouldn't mind losing. On the flip side, a qualified lead is a lead that you'd love to keep.
Now think about your next conversation with Mr. Jones. Would you expect to speak with him again? How would you behave differently? Would you try harder to connect with him? Would you avoid telling him about yourself? No, probably not. Now consider using a similar scenario with a real estate agent. Let's assume you called several agents in search of a property that met all of your criteria. Imagine that you found two agents who both seemed eager to assist you. Which one do you choose? Do you pick the agent who offered to pay half the commission upfront (the standard practice)? Or do you select the agent who gave you free access to her database full of properties currently listed for sale? Your answer should reveal your preference for dealing with a qualified lead versus an unqualified lead.
How do you determine a qualified lead?
There are three main steps to determining a qualified lead:
1) Identify the pain points & opportunities within your industry that would benefit from solving.
2) Find out what problems your ideal customer faces and what benefits they seek as a result.
3) Determine what information you need in order to solve their problem.
This process requires patience and persistence. Don't rush it. Make sure you set aside sufficient time to research and study your market thoroughly. Think about every single aspect of your industry including competitors' offerings, your competition's strengths and weaknesses, trends in technology and innovation, etc.
Once you've identified the best candidates, reach out to them directly. Send personalized messages in the form of ebooks, white papers, articles, videos, case studies, etc. Be creative. Offer incentives. Get personal. Show that you care. Use humor whenever possible. Above all, stay consistent. Keep track of everything you post online and monitor the responses you receive. Take notes on feedback that you receive. Respond promptly. Build trust. Over time, you'll gain valuable insights into how to improve your offers, increase conversions and ultimately grow your bottom line.
Remember, it takes time. Patience is golden.
If you enjoyed this article, please share it with your friends below! We hope you found it helpful and wish you continued success in your endeavors. Feel free to comment below to let us know about your experiences working with qualified leads.
In today's world of technology and business, it seems like every single company wants your money. If they don't have a website or social media accounts or email lists, then chances are they're not going to get any business from you either. The problem with this is that most people feel as though there's no way for them to reach out to these businesses and let them know about their product or service. How can you possibly hope to sell something if nobody knows who you are?
Well, the answer might be simple -- but many people still struggle with understanding what exactly qualifies as "sales" leads.
If you've ever been on Facebook, Twitter, LinkedIn, Instagram, YouTube, Pinterest, Snapchat or even just Google Plus, you'll probably see some form of advertising for someone else's services or products. You may also notice that ads pop up when you search for certain keywords related to those industries. These are all forms of lead generation. What makes a good lead compared to another one isn't always clear (and depends entirely on whom you ask), so we thought it was time to put together an article explaining exactly what generates a good quality lead.
So without further ado...
What does generate qualified leads mean?
A "qualified" lead usually refers to anyone who has expressed interest in hearing more information about a specific topic. This could be through a direct contact method such as phone calls or emails, or by browsing online. There are several ways to classify a lead depending on whether or not the person actually buys anything. That said, each industry will typically use slightly different definitions. For example, B2B marketers tend to define a lead differently than consumer marketers. We'll discuss both below, starting with B2C first!
Consumer Marketing Definition of Qualified Lead
According to Hubspot, a qualified lead is:
Someone who meets at least two of three criteria:
They already own a product or have shown interest in buying a product
They’re actively looking for a solution to a particular challenge
They’ve visited the site within the last seven days
This definition basically says that a lead must show interest in purchasing a product before being considered qualified. Many companies believe that using this type of lead generation methodology gives you better results because you aren't trying to convert complete strangers into customers. Instead, you're only targeting individuals who have expressed interest in a specific product or need.
Business-To-Consumer Marketing Definition of Qualified Lead
On the other hand, B2B marketers often consider a lead to be a customer once they buy a product or sign up for a trial. They generally refer to a lead as a "warm market," meaning that they're interested enough in learning more about your offering that they want to continue communicating with you after purchase. According to Marketo, a warm market is defined as follows:
Leads who have purchased a product or signed up to receive additional content via email or call. Often referred to as “warm” leads, they are highly targeted prospects whose attention has been captured by the advertiser.
Of course, the difference between B2B and B2C is largely subjective since some consumers choose to purchase goods directly while others prefer to go through intermediaries. However, regardless of which approach you take, you should strive to follow the same guidelines above.
How do you generate qualified sales leads?
The best way to start would be to make sure that you understand why lead generation works in the first place. When you create great content, share it across multiple channels, engage with followers, and provide valuable resources, you're giving potential customers a reason to talk to you. Let's look at a few methods that work really well:
Email marketing: Emails are powerful tools that allow you to send out messages quickly and efficiently. It's easy to target recipients based on various demographic factors, and you can keep sending new ones until you get a response. Some people argue that email campaigns are ineffective because the number of opens and clicks doesn't necessarily translate into actual purchases. But studies suggest otherwise. A study conducted by BrightEdge found that the average conversion rate for a high-performing email campaign was 7%. Another study found that 80% of respondents reported receiving value from their email newsletters. So if you think that emails are dead, think again.
Social Media: Social media platforms such as Instagram, Facebook, and LinkedIn give brands access to large audiences. Not only are people spending more time on these sites now, but they're also sharing posts more frequently. As a result, it's easier to connect with followers and build rapport. Studies indicate that users spend 30 minutes per day interacting with social networks, so try to capitalize on this opportunity!
Content Creation: Content creation is vital for successful lead generation. Whether you publish videos, blog articles, infographics, or white papers, creating engaging material helps establish trust among your audience, and thus increases the likelihood of getting leads. Remember that quality matters much more than quantity, so don't worry too much about posting everything immediately. Focus instead on publishing consistently over time.
Direct Mailings: Although less common nowadays due to decreased postage rates and increased spam filters, cold calling remains popular for reaching prospective clients. Cold calling allows you to interact with real human beings rather than machines. Since cold calling requires personal interaction, it is important to learn proper etiquette and avoid making mistakes. Don't forget to include personalized notes along with your requests for meetings. Also remember that you shouldn't expect responses overnight, especially during the holidays. Depending on how busy your colleagues are, wait times can range anywhere from 1 week to 3 months.
How do you ensure qualified leads?
Once you've generated leads, the next step is ensuring that they stay engaged. Make sure that you listen carefully to feedback and respond accordingly. Always thank your contacts for taking the initiative to meet with you and for providing useful insights. Responding promptly to inquiries is crucial for building relationships with clients, and failing to do so will likely cause your prospect to lose faith in you and move on to competitors. Once you've built a solid foundation of relationships, you'll be able to develop stronger bonds with existing customers and attract new ones.
Remember that it takes time to cultivate connections with your ideal client base. Do your research beforehand and identify where your perfect customers hang out online and offline. Then focus on networking with similar folks who share similar interests. By doing so, you increase the probability of finding a match.
It's okay to take shortcuts when necessary, but don't sacrifice quality for speed. Quality wins out in the long run. And remember that sometimes it takes longer to nurture a relationship than to generate a lead, so don't rush it. Take the time to gain confidence in yourself and cultivate a strong reputation throughout your industry. Eventually, you'll become known as a trustworthy expert and people will begin approaching you for advice.
Have you had success with lead generation strategies? Share your thoughts and tips in the comments section below!