What is a qualified lead? Lead scoring wins for fast growth businesses

What is a qualified lead? Lead scoring wins for fast growth businesses from Sales Pond

By: Sales Pond  07-Sep-2012
Keywords: Direct Marketing, Lead Generation, Telemarketing

There is much debate as to what is classified as a qualified lead, especially in the business to business market. One way to overcome this is to use an agreed point scoring system that either qualifies or unqualifies a lead. We find using the BANT (Budget, Authority, Need and Time) system work best for larger businesses and expecially of you are tendering for larger contracts. Often in an ideal world we would love to have a prospect signed, sealed and delivered, however this is not realistic or feasible. Creating new relationships and building trust takes time, just because you think your service of product is the king of offerings, it doesn't mean people will instantly trust it and want to make an appointment to see you right away. You need to give businesses a chance to be introduced to you, to assess your social credibility and then be followed up to continue the relationship or what we call the dating process. A point system may include the following criteria to qualify your prospect before building a relationship: Is there a pain point or need? Are they the key decsion maker? What time frame are they working in? Do they need more information? what specificlaly will help them improve their situation? Whats the cost of their problems or do they have a budget to solve their problem? A strong lead-scoring model closes the gap between the marketing and sales teams. Your sales team enjoy a better flow of qualified leads and you are able to monitor the metrics of the lead generation program and track its successes. Flexibility is important so you can adjust the marketing plan to improve the quality of leads generated, while resources can be better managed and costs kept under budget. Lead scoring is NOT a process that can be done by marketing alone because it ultimately relies on the sales team’s input regarding what constitutes a “qualified” lead. Also, lead scoring is not done simply to capture the hot leads and ignore the rest of the leads—the ultimate goal of lead scoring is to identify which leads are ready to move on to sales or appointments and which leads require further nurturing by marketing so that leads are not lost in the system and can be turned into hot leads at a future date.

Keywords: Appointment Setting, B2b Lead Generation, Direct Marketing, Lead Generation, Telemarketing