Let’s talk qualified leads.
Most definitions are the same so let’s just go with this one from SalesFusion. “A sales qualified lead (SQL) is a prospect created by the marketing department and vetted by the sales team. If sales add them in their queue, the lead is deemed “qualified” as a viable prospect, with problems that fit the solution being offered by the seller.” An unqualified lead is, of course, the opposite. A prospective customer or client that has not been nurtured. If you’re already well into a sales career you most likely already knew these definitions, but the question is do you truly understand them?
I’m going to stick to this SalesFusion third-party info here. I like their style. Below is a quick bullet point breakdown of Qualified Lead vs. Unqualified lead. Check it out and then we’ll get into my breakdown. Oh, if you want to read their full article just click here. I’m always showing the love where love is due, I hope these websites appreciate it. 🙂
- Have not been nurtured enough to close their sales cycle.
- Are often unsure of what your company offers.
- Don’t know what they’re looking for in a solution yet.
- Your product or service is out of their price range.
- While it is possible to convert unqualified leads into customers, the churn rate is sky high.
- Have completed, or are in the process of completing your nurture campaign cycle.
- Are in control of their own buying cycle, completing their own educational research.
- Have brainstormed and listed their exact needs in a solution.
- Have a clearly defined budget to work with and are researching solutions within their means.
- Customers that come from qualified leads typically have low churn rates because they close on their own terms.
So let’s get right to it. Nice info here, but the meat and potatoes are in one sentence. You see where it says that qualified leads are, “in control of their own buying cycle, completing their own educational research?” If you can get them to the point where they are researching your product then you’ll have the opportunity to provide both the most ethical and beneficial service to not only them but to yourself as well. You could kill two birds with one stone here. Actually, you take out a whole flock with this one.
The main requirement for every single person before they spend their money anywhere is TRUST. The fewer people trust you or your company, the fewer people will buy from you. It’s that simple. Sure you catch ballers who may seem to be throwing their money around aimlessly simply because it’s burning a hole in their pocket, but when you take a closer look you will find out that their actually hitting a bullseye. They buy a shirt from this department store, a pair of jeans from another, a pair of shoes from a store they never heard of. Wait…a store they never heard of? What happened to trust you say? It’s still there, loud and clear in fact.
In this particular situation, it’s not about the store, it’s about the product. If this big spender trusts the product he/she won’t care where it’s coming from. As long as they aren’t buying the products off a table in a shady neighborhood, they’re confident they’re getting what they believe is a product worth their money. The funny thing about this logic is the fact that they don’t even have to personally trust the product either. Simply trusting a person who recommended the product to you can supersede any trepidation about the product itself. Do you see where I’m going here? To sell a product you must qualify a lead and to qualify a lead you must gain their trust.
Provide so much information about your product, service, company, and even yourself that anyone looking to buy has already amassed a certain amount of trust for you before you even converse. As stated above in the bullet points, you want them to “be in control of their own buying cycle“. This is a win/win for everyone. The act of supplying information cuts time in half for you and the potential customer/client. By the time you get to them, they might be finishing your sentences for you. Now they feel more comfortable and feel less defensive and guarded, this is a precursor to them making a buying decision and if you’ve gotten to this point they are most likely buying from you.
You see, you have to understand that by the time you and this person are talking to each other they have already closed on a purchase in their mind. You have to realize that you either contacted them because you know they are in need of something you possess or they contacted you because you possess something they need. If done correctly this person will CLOSE YOU with a smile on their face and even promote your product or service to their friends, family, and co-workers. The key to all of this trust building is in the information, my friend. One huge tip before you go; Don’t just toot your own horn. MAKE SURE TO INCLUDE THIRD PARTY INFORMATION. Instead of plastering how good you are at this or that all over your website and in advertisements, use feedback received from people who have nothing to gain from talking positively about you, your product, service and or company.