Lead Qualification: 3 Superb Aspects of a Qualified Lead
Lead qualification is an essential aspect of lead generation that ensures consistent return on investment.
Marketing professionals know that a lead can come in many forms and that leads must be qualified before passing it on to the sales team. Therefore, a lead qualification process can help determine which prospects are the best sales targets.
The following blog post will discuss the three aspects of a lead that makes it qualified in the B2B market and how digital marketing can help a business find more qualified leads.
What does lead qualification mean?
Lead qualification is an essential step in lead generation. It can help reduce lead quality issues, lead management costs, and lead volume problems. A qualified lead meets the buyer’s criteria for your product or service and is highly likely to become a customer. A qualified lead starts with understanding a buyer’s needs, interests and knowing where they are in a sales funnel.
Why is lead qualification essential?
Lead qualification is essential because it separates customers interested in a product or service but not ready to purchase and those prepared to become new customers.
Three aspects of a qualified lead:
- The customer is currently in your sales cycle. When a customer enters your sales cycle, lead qualification will help you determine when they are ready to buy.
- The customer has described their exact needs and has let you know they need your product or service.
- The customer has clarified their budget and performed extensive research on the offered product or service.
Three aspects of an unqualified lead:
- The customer is unsure of what product or service is being offered.
- The customer is unaware of the importance of the offered product or service.
- The offered product or service is out of the customer’s price range.
Recent lead qualification example
Last month, a new restoration company reached out to Algorithmic Global for lead generation services. During the initial call, they let us know that they found us on Google when they looked for qualified water damage lead generation but did not currently have a website ready for advertising traffic. We let them know that we only provide lead generation services to existing websites and can prepare our team to create a professional restoration website in eight weeks if necessary.
The client let us know that they were not ready to buy a website because they just invested in all new equipment, but once new work starts rolling in, they will give us a call. At first, the restoration marketing professionals at Algorithmic Global believed this to be an unqualified lead. But after further thought, it was a qualified lead; the client was in our sales cycle, described their needs, and had a defined budget for digital marketing services.
A few weeks later, we reached out to the qualified lead to follow up and see how their restoration business was doing. They let us know that they shared our website design portfolio among the top decision-makers and that they will be giving us a call soon to design their dream website.
The lead qualification example above is prevalent for the restoration digital marketing service niche. Most of our potential clients are in the research phase when they reach out to us and may take up to a few months to convert.
Algorithmic Global’s lead qualification process
The professionals at Algorithmic Global have developed an algorithmic marketing approach to help their clients gain more water damage leads. As we mentioned in our real-world example, we specialize in bringing our restoration clients new leads through their websites. We believe in this lead generation style because we want our client’s website to succeed on all major search engines.
In short, when a customer decides to get qualified leads to a website that they do not own, they are essentially building a house on rented land.
Please contact us today if you want more water damage leads or need help developing a lead qualification process!