Lead qualification is critical. It can mean the difference between exceeding your quota or spinning your wheels on prospects that were never a good fit in the first place. Although lead qualification can be challenging, it’s worth the effort to fine-tune your process. Research shows that 67% of lost sales are a result of salespeople failing to properly qualify prospects before taking them through the whole sales journey.
One way you can avoid pursuing the wrong leads is to learn how to spot them up front. Lee Richards, the group vice president of sales at The Brooks Group, has outlined six key qualities of qualified leads. We share his thoughts in this issue of PromoPro Daily.
1. Awareness of need. Highly qualified prospects know they have a problem they need to address. Richards says they may not know the solution – or even that your company exists – but they are aware they have a challenge that needs to be addressed.
2. Authority. Another sign of a qualified prospect? They have the authority or ability to buy or commit. Richards recommends asking early in the sales process these two questions:
• “Who else, other than you, should be involved in the buying decision?”
• “Can you tell me more about how you’ll make this decision?”
3. Sense of urgency. If prospects aren’t in a rush to make a decision, try sending them back to marketing for more nurturing. Strong leads are hyper-aware of their problem, Richards says, and eager to find a solution as quickly as possible.
4. Trust in your business. If a potential client doesn’t believe in you or your company, they’re not going to buy anytime soon. Trust is a key characteristic of the most qualified prospects. When sales teams develop that trust from the beginning of the relationship, Richards says customers are more likely to trust the organization and their offerings.
5. Willingness to listen. Prospects who are ready to buy and resolve their challenge are willing to hear you out. Remember that many people may want to listen, but they can’t buy – or don’t want to buy – right now. The key is to pay attention to how engaged prospects are in the conversation.
6. Alignment with your organization. The final characteristic, according to Richards, involves alignment. There should be alignment with the prospect relative to the value of your offerings. Just because you can offer something to a prospect doesn’t mean you should sell it to them.
Not all leads are created equal. You can make sure you’re focusing your time on the most qualified prospects by identifying them by the characteristics above.
Compiled by Audrey Sellers
Source: Lee Richards is the group vice president of sales at The Brooks Group.
