{"id":23284,"date":"2020-07-09T13:47:20","date_gmt":"2020-07-09T13:47:20","guid":{"rendered":"https:\/\/leadsbridge.com\/?p=23284"},"modified":"2021-12-22T14:33:30","modified_gmt":"2021-12-22T14:33:30","slug":"sales-qualified-leads","status":"publish","type":"post","link":"https:\/\/leadsbridge.com\/blog\/sales-qualified-leads\/","title":{"rendered":"Sales qualified leads: The light at the end of the sales funnel"},"content":{"rendered":"

It\u2019s no big secret that sales qualified leads are incredibly important to the success of any business. Leads allow any company to connect with a growing customer base and evolve to become more profitable over time.<\/span><\/p>\n

Sales qualified leads are more than just potential customers. They allow companies to maintain connections that they already have by getting feedback. Sales qualified leads are important for developing new relationships, not just increasing revenue.<\/span><\/p>\n

But, of course, companies are in the business of making profit, no matter what their industry is. Making a profit means understanding the needs of a customer base, and meeting their needs and demands. As demand increases and customer\u2019s needs are met, companies will begin to expand and evolve. This is where sales qualified leads come into play. If a business does not continuously expand its customer base, then sales will decline, and the company will not be able to grow.<\/span><\/p>\n

What is a sales qualified lead?<\/span><\/h2>\n

The technical definition of sales qualified leads is a potential customer that has been researched and vetted, first by the marketing team, and then by the sales team, and is ready for the next step in the sales funnel.<\/span><\/p>\n

\"Sales-qualified-leads\"<\/p>\n

But, don\u2019t get confused here. There is a big difference between sales qualified leads and marketing qualified leads.\u00a0<\/span><\/p>\n

MQL vs SQL<\/span><\/h2>\n

A marketing qualified lead<\/a> is a potential customer that is more likely to become a customer, but isn\u2019t quite ready to buy yet. Typically, this is determined based on lead intelligence, and is usually informed by closed-loop reporting.<\/span><\/p>\n

Sales qualified leads simply means that the sales team has qualified this person as a potential customer, and they are ready for the next step in the sales funnel. They have passed the engagement stage and are ready for the next step in the sales funnel – which is typically a direct sales push. They have displayed an intent to buy, and they’ve met certain lead qualification criteria that has deemed them a good fit for a given business\u2019s product\/services.<\/span><\/p>\n

Determining the difference between sales qualified leads and marketing qualified leads completely depends on the business\u2019s customer lifecycle, and the agreement between the marketing and sales team within the company.<\/span><\/p>\n

How to qualify sales leads<\/span><\/h2>\n

Qualifying a sales lead may seem like a complicated process, but it can be broken down into 5 straightforward steps:<\/span><\/p>\n

1.\u00a0 \u00a0Lead scoring<\/strong><\/p>\n

Applying a lead scoring model to your lead generation process helps gather vital information and data without having to ask the potential lead directly. A lead scoring model<\/a> gathers said information based on engagement that the lead has already had with your brand and data fields that they have already filled out. Essentially, a higher score means that they have engaged with your website a lot. As their scores continue to rise, so does their potential to become sales qualified leads. Once their score hits a certain, agreed upon number, they\u2019re considered sales qualified leads, and they\u2019re ready to be contacted.<\/span><\/p>\n

2.\u00a0 \u00a0Research<\/strong><\/p>\n

With just a little bit of research, there\u2019s quite a bit of lead qualifying information that you can uncover. For example, a quick search on LinkedIn could prove to be useful for finding out industries, genders, ages, and more. By engaging with your lead\u2019s website yourself, you can gain a massive understanding of their news and launches.<\/span><\/p>\n

3.\u00a0 \u00a0Remember BANT<\/strong><\/p>\n

BANT <\/b>stands for <\/span>budget<\/b>, <\/span>authority<\/b>, <\/span>need<\/b>, and <\/span>timeframe<\/b>. These 4 fundamental keys provide a great outline for areas of focus before you start to dive too deep into the sales pipeline<\/a>. Using these keys, and gathering information about the lead pertaining to each one, provides a very strong base to support your next sale.<\/span><\/p>\n

For example, knowing more about your potential lead\u2019s budget can give quick insight into whether or not a product is right for them before it\u2019s even pitched.\u00a0<\/span><\/p>\n

4.\u00a0 \u00a0SPIN selling<\/strong><\/p>\n

Created by Neil Rackham, SPIN selling<\/a> is a clever acronym to help sales teams ask the right questions during the lead qualifying period. With the right questions, a good sales team can properly nurture a lead all the way to the end of the pipeline. Here\u2019s how SPIN works:<\/span><\/p>\n