What are Qualified Leads

You are in the business of growing your business. Whether you are a sole proprietor or manage a big business, finding qualified leads and converting them into customers is important for lasting growth. But what if you aren’t sure what a qualified lead is? How can you get more of these leads for your business? 

We know a thing or two about getting leads. Below is an outline of what you need to know to build an effective lead generation strategy.

Key TakeAways

  • A qualified lead is a potential customer who has shown interest and capabilities of doing business with you.
  • Some of the most basic information needed to qualify a lead is their name and contact information 
  • Any person or company who is hesitant to do business with you is not a qualified lead
What Are Qualified Leads

Qualified Leads Explained

A qualified lead is a likely customer who would be acquiring your services in the future. This evaluated over certain criteria of your business needs. You can only classify willing leads as qualified leads. What this means is that the info given by your lead is given voluntarily and spontaneously. So, forget about purchased leads and databases, they don’t qualify. 

Ways To Categorize Qualified Leads

The type of qualified leads you get can be broken down into three categories. Have a look below: 

Marketing Qualified Leads (MQLs) 

Here you will deal with leads who have qualified according to the lowest standards to carry on with your marketing operations.

Sales Qualified Leads (SQLs).

This where you find your potential customers who have been encouraged by your marketing team. Now they have taken the next step in speaking to your sales team to express interest in initiating a sale.

Product Qualified Leads (PQLs) 

Lastly you will find leads who have found worth in using your product through a free trial or sample. They have tried and tested your product and now want more. Time to start the selling purchase.

Your business will have to set its own criteria for each of these lead categories and how each should be approached.

MQL VS SQL

The different approaches you have to take with MQL and SQL are crucial for steering your business in the right direction.

MQL

MQL are people who have met the minimum criteria to continue a business engagement. These are leads that often need a little more convincing before directing them to the marketing funnel and sales.

Some of the most basic information needed to qualify a lead as marketing qualified lead are:

  • Lead Name
  • Company name
  • Email address
  • Industry 
  • Contact Number

SQL

SQLs provide a lot of information that is beneficial to make sales. The most important of this being: 

  • cost information 
  • enlarged customer interest 
  • company size
  • number of employees

Basically, anything that is of importance to the lead’s industry. 

Moving Qualified Leads to Sales

Carefully think about the approach you want to take when converting marketing leads to sales. Essential pointers that unveil a qualified lead include:

  • Capability to answer questions about their needs explicitly and constantly.
  • A Strong expression of interest for your product or service.
  • A strong grasp of what your product or service can give them.
  • An even understanding between your prices and the lead’s budget
  • Selling to an industry that your brand is familiar with
  • The possibility for continued purchases.
  • A summary that associates with comparable customers with who you have closed deals in the past.

When you have identified a qualified lead it’s time to get to the business side of things. You should start by taking care of what it is exactly that your lead requires from your business. See a need fill a need.  Some of the most effective ways to secure a sale include: 

  • additional calls or meetings, 
  • doing product demonstrations, 
  • discussing your product or service with current customers 

FAQ

What are The Best Ways to Qualify Leads?

The suitability of your leads is based on the information you receive at the very beginning. You must establish whether they have the budget, need for your product and the ability. That is just some of the conditions you should focus on to determine if they are a qualified lead.

How Do I Disqualify Leads?

The answer to this is obvious. You should take a lead out of your marketing campaign if: 

  • they don’t display the interest in 
  • can’t afford it 
  • are not able in power to make a purchasing decision 

What Are the Requirements for A Qualified Lead?

Your lead qualification process can be based on these characteristics:

  • Awareness of Need- To be eligible, your customers need to be totally aware of what it is they need. 
  • Your leads need to have the consent and ability to buy- Someone within their organization must have the ability to decide whether they will buy or not.
  • Sense of Urgency- They saw that you can fulfil their need and this needs to be done right away. 
  • Trust in You and Your Organization- Building a sense of ease to ensure smooth sales.
  • Willingness to Listen- Qualified leads will be open to hear what you have to offer and what other factors they need to consider.

Conclusion

Lead qualification is an essential part of marketing and selling your product or service. To be successful, your business needs to implement an efficient process that suits the need of your customers.

If your business is small with only a handful of possibilities to manage, you may be able to qualify leads with a physical approach. Nevertheless, to ensure the best lead qualification, automated marketing a planning is crucial.

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