3 Most Important Factors To Generate Quality Leads
As the companies strive for greater sales and higher revenues, the importance to generate quality leads and their conversions cannot be overlooked. What businesses need to understand is not to run after every single lead but to focus on the right leads and pursue them.
A sales funnel is a visual depiction of the stages involved in selling products or services. It shows how many prospective leads you have in each stage of your sales cycle along with respective conversion rates. The need is to alleviate leakages at each step and have more leads turn into customers.
- When it comes to lead generation work on quality
When it comes to planning lead generation strategy for your business, you should first work on improving the quality of leads generated and then chase the numbers. For the leads that do not convert into customers or clients are of no use no matter how huge the number.
Poor quality leads not only will cost your time and resources, but hinders your business as well. According to the study, because of the poor conversion rates; companies end up wasting 90% of their marketing budget. Poor ROI is one after effect, which can further worsen the case is that such situation subsequently coaches the sales personnel to not bother pursuing leads.
- Do not forget the numbers
Nothing can spell a good news, or right direction for a business more than a quality lead. Such leads not only turn into new customers, but if worked on well can give repeat business to the company.
However, producing a few quality leads in months time will also not do any good to the business. The scenario will be as bad as generating numerous low quality leads. The success of your lead generation campaign, is not about working on getting leads but getting quality leads.
3. Why you need to qualify leads?
Qualifying leads is the process of assessing prospective clients (leads) before passing them off to the sales team. This step can save a lot of sales team’s time and effort. The preliminary requisite should be whether the prospect has the budget for your product, service or solution and the authority to make the decision.
For example; a specialized B2B company, has an additional need of cross-checking the location of your prospect and assess whether the particular geographical region is right for your product to be effective?
A company that completely understands its product/ service and knows who its customers are and how to reach them, saves both time and money, the two most important resources. When you know how to identify your potential customers and how to sell your business to them, you would naturally be saving on the useless efforts that go on seeking attention of random people.
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