Are your salespeople complaining about not getting enough leads, although the leads pipeline is full and most probably untouched?
What is a qualified lead?
This has always been a big topic when it comes to sales. I have personally witnessed many discussions between Marketing Directors and Sales Leaders on the quality of the leads. While Sales accuse Marketing of handing over “bad” leads, wasting precious sales time, Marketing complains about a slow-moving incomplete follow up on the generated leads sinking all the marketing $ spent.
Who is right in this argument?
Well, we investigated this matter and found out that both parties actually were right.
Early in the journey, the prospect would most probably just get additional information on the solution, maybe they even download info material, join webcasts or visit conventions and fares. Only later in the customer journey, when a potential solution to their problem has been identified, the client is happy to talk to a salesperson who would then be able to address the decision criteria and process that would finally lead to a buying process and purchase.
Therefore, these leads generated by marketing, business development agencies or internal inside sales need to be qualified and rated based on the customer’s interest and stage in the buying journey. Many companies nowadays have a distinction between the early-stage leads, often referred as “Marketing Qualified Leads”, which would continue to be nurtured by marketing or insides sales and the later stage leads which are called “Sales Qualified Leads”, which will be handed over to the sales department.
But why is there still an issue?
Let’s have a look at how those leads are qualified.
In many cases, this is done by a rather inexperienced young inside sales team or an outsourced business development agency motivated by a bonus payment for handing over “qualified” leads. Due to the mentioned lack of experience, the optimism of the youth and a strong motivation to reach the targets to earn recognition and bonus, the leads are not qualified well enough before hand over to the sales team.
As a result, handing over these premature leads causes a lot of frustration with the field reps, who spend a lot of time chasing potential customers who are not yet ready. This ultimately leads to salespeople cherry picking on some of the leads, which they follow up on and leave the rest untouched.
This causes executives to start questioning the effectiveness of the sales process with high lead generation cost and a low conversion rate of real deals hitting the forecast.
This is where iSEEit comes in and bridges the gap. Good leads are like gold nuggets and iSEEit helps to filter those out at an early stage.
What iSEEit’s Lead Qualification feature brings to the table:
- Better qualify leads for your inside sales reps by using a configurable, step by step qualification checklist based on industry best practices.
- The lead qualification score helps to only convert the “real” hot leads into sales qualified leads or opportunities.
- Seamless handover from inside- to field sales without any information loss as the data gathered during the lead qualification process will be reflected on the opportunity as well.
- Metrics such as iSEEit’s Lead Qualification Score and the conversion rate linked to the lead source help marketing to determine which campaigns actually generate the best ROIs.
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