Business is tricky and scoring leads is trickier. The success of any business is largely dependent on the leads they have and the quality of them. Lead generation and capturing is all about the right strategy and right communication. Whether you run a large business or a small one, finding out whether your contact is ready for sales is not an easy task. One small mistake can cost you your client and can have other consequences.
While every business has their own parameters to measure the sales-readiness of lead, there are some common factors that should be taken into consideration. Below listed four factors will help you fairly judge whether or not your lead is sales-ready.
- Basic Information about the Prospect
First of all, you must collect some basic data about your prospect. To begin with, this basic data can be categorized into demographics, firmographics, and authority.
- Demographics: This is about finding the basic information on the lead like job title, experience, location, etc.
- Firmographics: This is information on organizations behind your lead and includes company size, revenue, locations served, etc.
- Authority and timeline: This is an advanced qualification and helps you understand the stage where a lead is in the buying process. This is done by finding information on their budget, authority, need for your services, purchase timeline, etc.
Depending on the above data you determine the lead fit and can actually focus on the leads that are sales-ready or are likely to be so.
- Lead Interest
Identifying lead interest is about keeping a close eye on prospect’s interest in your content and network. Further, you also should watch how the prospect interacts with your content. The level of involvement of the prospect with your content and services will allow you to find out how interested they are in your brand. Always monitor the behaviors like email opens, click-throughs, activities on social media, and downloads. The data on this will allow you to understand how interested your prospect is and you can plan your next activities according to that.
- The behavior of the Lead
Next factor to pay attention to is the lead behavior. This has to go beyond whether the lead is a good fit or not. Here, you need to find out where is your prospect on the buying journey. Find out the behaviors they exhibit and correlate them with those of the leads which later convert to customers. These behaviors can be called active behaviors. Learn to separate them from latent behaviors
- Determining Buying Stage
Determining where the lead is in the buying stage can help you figure out a lot about whether they are yet sales ready or not. There are three prominent stages as explained below:
- Early Stage: The person who is aware of your brand and services but hasn’t yet become a qualified lead is said to be in early stage. They will engage in blog posts, download resources, and share content.
- Mid Stage: This is a stage where the lead has engaged with your content over time and displayed some buying behavior. They are more likely to contact you for some specific information.
- Late stage: These are the leads that are ready to buy and have started asking for demos, pricing, and discounts.
Once you are sure that the contact is sales-ready, your job is to nurture the lead. As a matter of fact, the businesses that nurture their leads are likely to generate 50% more leads and at much lesser cost. Lead nurturing stands for being in touch with your leads at all times, even after the sales. This increases the chances of them to purchase from you again. Also, a lead that is nurtured is more likely to convert into a loyal customer.
Get a system in place that will help you in determining whether the contact is sales-ready or not depending on the factors discussed above. Your organization may have its own specific parameters that go beyond the aforementioned factors. The idea is to be able to identify your sales-ready contact and pursue them with a right communication strategy.