Lead qualification systems are a way for companies to filter and prioritize leads that are worth their time. In today’s fast-paced business world, any company needs a process to filter the “best” leads from the rest. Otherwise, they may waste valuable resources on unqualified prospects.
A lead qualification system is one way you can do this by prioritizing which leads are most likely qualified and ready to convert into customers or clients. By doing so, your sales team has more time available to focus on closing deals with qualified prospects while also increasing revenue opportunities down the line.
Implement these ways to build a lead qualification system
Here are some ways you can build a lead qualification system :
- Define Your Qualified Lead
In the B2B lead qualification process, it is essential to define who your qualified lead is. Your best customers are a gold mine of revenue and data. You need to analyze your ideal customers to work out how you can find, nurture and convert more of these prospects into loyal buyers.
Determine the similar characteristics that will help you identify new customers.
However, these customers may have a lot to offer, such as feedback and vital information. This information can be used for more than just upselling, but also data sets that could turn into actionable insights and help you fuel future growth strategies, if gathered correctly from these high-value clients or customer contacts in general.
Before you start your lead qualification process, ask yourself the following questions:
- How did you find your best customers?
- What are the particular pain points?
- Why did they choose you over others?
- How did these leads find you?
- Why are they still customers? What’s the main reason that keeps them around?
- Build Lead Scoring Into Your CRM
Marketers and salespeople alike need to have a lead scoring system in place. Which will allow them to easily identify good leads versus bad ones and ensure that your prospects are not only qualified but also ready to buy.
Lead scoring systems can help weed out low-quality leads by assigning a numerical value score based on what they’ve done online or how long they’ve been viewing content on your site through their social media activity.
You can build scores for your leads by awarding points for the actions you believe are the most valuable. The goal should be to qualify as many high-quality leads as possible while eliminating those who don’t seem interested in purchasing anything from you.
- Use of MQM to convert MQL to SQL
The third step in the lead qualification process is Marketing Qualified Meetings (MQM), which means that you’re now having conversations with prospects to determine if they are a good fit.
That can be done by following up on emails and phone calls or even creating an event where the prospect is likely to attend. The more information you have about your potential customer, the better chance of success for your company.
It is also about following potential leads who may not be ready yet. But you want to keep an eye on them because one day they may be ready.
MQM aims to qualify leads as warm or cold based on their responses during this call, depending on how interested they are in your product or service. Once you have determined that MQL needs your product or service and is willing to spend money on it, the next step is to define MQL as SQL and transfer it to the sales team.
The sales team then determines the lead profile to see if a lead is ready to purchase and has a sufficient budget to buy your product before a salesperson contacts the prospect directly.
The lead qualification system is one of the most important aspects to consider when creating a sales process. It determines which leads are qualified and ready for your team’s attention. So it can be an incredibly powerful tool in increasing conversion rates.
Funnl is one of the best and fastest growing B2B lead generation and sales qualified meeting generation firms. The team involved is highly skilled and experienced. We have experience generating over 10,000 marketable meetings from healthcare, education, finance, business services, telecommunications, and technology.