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Lead Generation & Research

What is lead qualification?

Building a successful business empire is a complex and time-consuming process, but it’s totally worth it if you keep the main focus on your customers. As a business owner, you need to realize that they are your main priority. The more people apply for your services or products, the better the sales will be. However, how do you define which potential users or consumers will actually choose your offer among other options? Investigate the ever-growing popularity of lead qualification and its frameworks in this article. 

Basic lead qualification definition

Marketing professionals had been working on the matter for a while before they concluded that the number of potential customers could be defined through lead qualification. So, here comes the question of what the lead qualification process is. The simplest lead qualification definition would be to determine if every potential user of the services you offer can be a prospect that can either help you generate profit and improve your business or remain inactive. The process in question helps you determine what leads will become your target audience. Once the marketing team figures out how to qualify leads, your business will significantly improve if not skyrocket.

The importance of the lead qualification process in the sales cycle

One of the main lead qualification questions is – does the user fit the ICP (ideal customer profile)? The data gathered in the process will help the sales team determine if the potential consumer will become an active user of your services. Besides, the notion of a long-term user is at stake here, too. Therefore, the next question triggered is – how to become lead-certified?

The task that most lead qualification services carry out consists of a few layers, and each one is essential for future prospects. The process of qualifying sales leads includes the following:

  1.   Contact information generation.
  2.   Initial contact with the potential user.
  3.   Gathered data evaluation process.

During the first stage, a marketing representative views the site visits, subscriptions, budgetary range, and related solutions of an individual consumer. After that, the sales agent initiates the first contact with the person in question. This is where both the process and the questions asked become more personal. Lead management may want to enquire about an individual’s needs and preferences, purchasing potential, and means at hand. Lastly, the process of qualifying sales leads takes place. The sales team researches the gathered data and filters the unprofitable leads out.

How to qualify leads in the sales industry: Main frameworks of the lead qualification process

When you lack informative data on a prospect, the lead qualification process becomes challenging and, at times, inconclusive. Thus, expert teams try to generate qualified leads using peculiar qualification techniques. However, there are five main qualification techniques to distinguish between.

  • BANT
  • CHAMP
  • MEDDPIC

BANT stands for Budget, Authority, Need, and Timeline. The framework is designed to figure out if potential customers have the means to afford the product, are the right people to approve the solution, may be in desperate need of a suggested offer, and when they may need it.

CHAMP stands for Challenge, Authority, Money, Prioritization. Essentially, the marketing framework is a close-up replica of the above strategy, but it’s rather centered on B2B leads than on other aspects. Depending upon the challenges faced and the budget at hand, the lead is reviewed for decision-making authority and the level of need in question. Those who may find the product on offer useful are usually filtered out, while those in need of it are prioritized.

MEDDPIC framework stands for Metrics, Economic Buyer, Decision Criteria, Decision Process, Pain Identification, and Champion. The solution the approach offers is based primarily on metrics. Depending upon your offer, a user can count on an increase in something in the majority of cases. The next few questions the method is designed to help you figure out are based on the financial possibilities of the buyer, along with the person responsible for money matters in general. The double DD implies what you need to do to convince the customer to pick you and determine the factors that may sway them in your favor. By defining the issues that the consumer faces and the potential ways of solving those effectively, lead management may be very useful in closing the deal.

How to become lead-certified: Primary qualification questions

Despite any qualification techniques in use, the result, preferably a positive one, usually depends upon the questions asked.

  • Which issues would you like to have a solution for?
  • Is there any other way to solve the matter that you have in mind?
  • What is the general goal you aim at?
  • Do you have a deadline to come up with a problem-solving product?
  • Are you in charge of your budget entirely?
  • Do you have a strict budget in mind?

The lead scoring will significantly improve if you stick to the provided examples and upgrade the list with every new marketing attempt. All it takes is for the lead management to realize that the main themes to center your questions around are the ones that concern the budget, the decision-maker, and the deadline.

How can lead qualification services tell qualified leads from unqualified leads?

None of the lead qualification services would be productive if they couldn’t tell a promising marketing lead from a lost cause. The data generation is mostly updated, but some perks of marketing automation assist in finding the most suitable solution. However, there are points to evaluate before you finalize the decision. The more precise the data generated is, the higher will the lead scoring get.

Qualified customer generation

  • Familiar with the company and product range offered.
  • Understands how to become lead-certified and has the means to afford the services.
  • Knows the problems in front and wishes to solve them shortly.

Unqualified user generation

  • Views marketing automation as useless and time-consuming.
  • Has no clear understanding of the challenges they’ll face.
  • Inconsistent in their answers.
  • Can’t afford the services offered by the lead management team.

Conclusion

The main reason why some businesses fail while others flourish is the approach they nurture when it comes to users. Considering every lead a potential consumer is a failed strategy. By implementing the lead qualification service into the business routine, you’ll save and earn a lot more than you spend on research.

It takes time and effort for the management team to embrace the strategy and implement it fully. However, the range of successful customers will start growing the minute you decide to tell favorable B2B leads from unqualified ones. 

Need help with lead scoring? Book a call with Belkins experts to qualify your prospects fast.

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