Published on February 15, 2022

It’s exciting to have a potential new lead. But the big question is: Will they actually become a client? While it takes time to qualify a lead, it doesn’t have to be a long, drawn-out process.

Many sales reps aren’t taking the time to qualify their leads and are instead spinning their wheels with people who may never become clients. According to marketing resource site Marketing Sherpa, a full 73% of B2B leads are not sales-ready, meaning they won’t be ready to purchase from you in the near future.

Here are four ways to qualify leads quickly and efficiently to make sure they’re worth pursuing and nurturing as prospects and, eventually, paying clients.

1. Create buyer personas.

Save time at the front-end by determining who and what makes for a qualified buyer for your particular products and services. Work in tandem with your sales and marketing teams to create buyer personas – fictional portrayals of ideal target clients – and see how leads measure up to them. “Assign scores to incoming leads and give them additional points when they engage with targeted campaigns or content,” says Sarah Jameson, marketing director at Green Building Elements, a sustainable materials education and comparison site. “That may indicate that they’re a hot lead.” Jameson recommends personas that include profile data such as role, department, industry, annual revenue and region.

Determine early on which markets you’re best suited for, and only look at leads within those sectors. “In order to grow efficiently, target a certain specialized market rather than casting a larger net,” says Mark Valderrama, CEO and founder of Aquarium Store Depot, an aquatic e-commerce and education site. “The sooner you identify your ideal niche market, the better. Once you do, make a point of highlighting it on your website.”

2. Ask open-ended questions.

Once a lead seems to match a target persona, the next step is to ask a series of qualifying questions; their answers will give you insights into their readiness and willingness to become a paying customer. “They need to be able to acquire your solution and they should be at the moment of purchase,” says Richard Lubicky, sales director and founder of RealPeopleSearch, an information and background-check database. “One suggestion is to use the CHAMP framework: Challenge, Authority, Money and Priority or Urgency.”

As part of the CHAMP process, ask the following questions: What are the potential customer’s challenges? Who needs to review and approve the purchase? How much can they pay? And how important is solving this challenge compared to the their other priorities? But be sure not to overwhelm them with queries. “Use a checklist based on specific goals to ensure accuracy and efficiency,” says Stacey Kane, business development lead at EasyMerchant, a building-materials e-commerce store in the U.K.

Steven Walker, CEO of Spylix, a security service to protect kids online, says it’s also imperative to determine the customer lifetime value. “A skilled salesperson evaluates the income potential of each buyer early in the process and determines whether they’re worth pursuing,” he says. “Look at your numbers. If your initial project looks like a one-time event with little to no ongoing revenue potential, it may not be worth the time and effort required to close.”

3. Figure out their pain point.

Make sure the lead has a need for what you’re offering; sometimes, they’re drawn to your marketing and make inquiries without a serious need. “It’s critical to figure out why they’re contacting you,” says Matt Weidle, business development manager at Buyer’s Guide, a consumer product-review site. “If they aren’t in a position to make a change at the moment, they might not be worth pursuing. Focus your efforts on uncovering the business pain point; if there isn’t one, consider that lead unqualified.”

Most importantly, be sure you’re spending time speaking with the person who knows the pain point in detail and can ultimately make the decision – not just a “lookie-loo.” Don’t spin your wheels and waste time discussing a project with someone without purchasing power. “A high-performing salesperson ascertains who has the authority to close the business,” says Walker. “You need direct contact and engagement with the decision-maker – the person who has the authority to sign the check – throughout the process so you can align with their objectives.”

4. Determine where they stand.

Don’t let leads languish in the pipeline. Make qualified/unqualified determinations as quickly as possible and pursue next steps with them or move on to other leads. “Keep your leads firmly between just two labels: ‘qualified’ or ‘unqualified,’” says Ariana Flynn, marketing and communications manager at tech firm ProxyRack. “That will help you to avoid lead loss because of pipeline gaps.”

Furthermore, know when to throw in the towel. If they’re starting to back away or aren’t proving themselves qualified after several tries, it’s time to move on. “It may be hard to let go after you’ve spent time and resources to qualify a lead,” says Kane. “Set a realistic figure for a maximum number of attempts and stick to it for efficiency.”

Original Article: https://www.asicentral.com/news/how-to/february-2022/qualify-your-sales-leads/

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