In today’s crowded digital marketplace, sales leaders constantly seek any advantage in the race for leads. However, the in the process of buyer engagement you have to decide what exactly your leads are. They will be good or bad, hot or cold. Not all good leads are hot, but all bad leads are cold. Read ahead for an in-depth explanation of what defines these leads and how you should approach them as you convert sales.
Time wasted by digital sellers comes from chasing leads with minimal interest in purchasing their product, or simply bad leads. Bad leads are often defined by several characteristics: lack of a true desire or need for the product, lack of funds to buy the product and lack of authority in making purchasing decisions. Oftentimes these bad leads were simply getting information or reading blogs created by your business and generally fall outside of your typical sales demographic. While they could always be a potential buyer down the line, it’s best to put them to the side in favour of good leads.
A good lead is easy to spot because more often than not they have already been seeking you or a similar product out. Businesses that have developed strong digital marketing brands have an easier time soaking up these leads because of their synonymity with their product. For those without those marketing advantages, the appearance of a hot lead has to quickly be taken advantage of. By having a general criteria of your customer base you can easily determine how close to a sale your lead is and whether or not it is actually good. The most obvious giveaway is questions about the price. These leads are ready to buy, you’re the only one that can stop them from doing it.
A good hot lead requires a rapid approach. Contacting within an hour of defining the good lead using a quick, concise and knowledgeable sales pitch should be enough to sway the lead, with an emphasis on quickly closing the sale. When it comes to the much more common cold lead, a more nuanced approach is required.
These type of leads must be approached as one building a relationship, typically with an email or some sort of message to serve as an introduction. From that point on, you must position yourself as a go to authority for your product and the field it covers. From general information about the industry that would be necessary for the lead, to informative blog posts, to video shorts and infographics that can easily explain aspects of your field, this lead must begin to view not as a source of information about your product, but the only one that they need. Periodic personal contact, be it through emails or even phone calls, will also play a role in developing this relationship as the lead makes the conversion from cold to hot. This process can be a drawn out affair, but by balancing hot and cold techniques your business should develop a steady stream of sales.
A good digital seller should also be constantly reflecting and developing their sales approach. There is analytic software that will allow you to understand your sales demographic along with what techniques were successful and what were detrimental. As you gather more data about your sales approach, your business will be able to fine tune their approach and maximize their earning potential.