Identifying the “Warm” Lead
Effort needed to get a hot prospect goes well beyond collecting a business card at a social event or trade show. A warm lead is an individual that has demonstrated a true need for your product or service and has responded to your business pitch.
Doug Barth, CEO of SimplyDIRECT Inc., states, “A lead has to have some sort of qualification to it. The lead really should mean that the person has reacted to your pitch; they have reacted to your business proposition.”
Some sales representatives overlook this key factor in trying to move the needle on the sales process. So the question may be, “how DO I get my prospect to move from a simple business card exchange to a warm lead?” The answer is to identify a true business pain if you are targeting a business and/or a personal need if you are targeting consumers. It is important that you clearly identify what your product or service solves for that prospective new customer.
Once you have established what your product or service solves, utilize this information to target specific businesses or consumers that have this pain.
For example, if your ideal prospect is a large real estate organization, what will your product or service do for them in a down market? Will it help them provide warm leads to their agent base or will it help the agents better market themselves in their local communities?
The same goes for obtaining warm consumer leads. A car dealership, for instance, needs to identify what they can accomplish for their target audience or ideal prospect. They’re not just selling cars. They, too, are fulfilling a need with their product. Can they help lessen the burden of rising gas prices with cars that offer better fuel performance, provide safety or more room for a growing family, or a sense of excitement for that mid-life crisis?
In either case, it’s important to hone in on that concrete or psychological need. Then, target your message to speak specifically to that need.
Another key step is to qualify the lead. Once you have identified their pain or need and targeted your message to address it, provide multiple ways for your prospect to respond. Continue the dialogue by sending an email with a form to contact you or a link to your web site where you can post a short survey. Make sure you clearly state who they should contact at your organization and offer a direct phone number.
The important step is to ensure your sales representatives are following up on the inquiry and qualifying the prospect even further. Once you receive a positive response, it is up to your sales representatives to dive in and determine if the lead is truly interested.
• Do they have a budget?
• Do they have the buying authority?
• What is the time frame for implementing a solution or for purchasing?
• What is the size of the opportunity?
These questions will help you determine if the prospect fits within your ideal target group and how you should categorize them. Ask yourself, “Should I continue through the sales cycle, direct them to sign up online, direct them to my call center, or remove them from my prospecting list?”
In closing, be sure to create a definition of what a qualified lead means to your business. Don’t waste time on any prospects that don’t fit within your specific target market.
-Steve