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Qualified vs unqualified leads

From prospecting clients, managing relationships to closing sales, they are a million things on salespeople’s minds. For them to do what they do best, they need to know the right direction. They need to know the best relationships to nourish at the right time to convert the right people.

Digital and outbound marketing teams help the sales segment leads into either qualified or unqualified leads.

Qualified versus Unqualified Leads

Unqualified leads are not necessarily bad leads. It just means that they are not yet at the point of their buyer’s journey when they are ready to purchase. Sometimes, it just means that they currently don’t know about your product’s benefits and how you’re different from your competitors. Other times, it means that you are offering a solution that they don’t need yet or that they currently can’t afford.

With enough time, effort, and coordination, unqualified leads can be converted into paying customers. But even after they are acquired, they are less likely to repeat their purchase or remain loyal to your brand. On the other hand, qualified leads are like low hanging fruit. They are often in the process of being nurtured by your campaigns or have already completed it.

Qualified leads are those who can afford your offerings and can make the final decision to purchase. They are likely to have already researched on you or your competitor’s products with an intent to buy.   They have a problem in mind with your product or service as a possible solution; They are more likely to repeat their purchase and be loyal customers.

How to have more qualified leads

Each company will have a different way to segment and define their version of qualified leads. A combination of historical data, industry knowledge, and internal marketing studies can help companies identify their ideal customers. The more defined your company’s ideal customer is, the easier it will be for sales and marketing teams to find them.

Getting qualified leads require seamless work between sales, marketing teams and even customer services teams. For every stage of the sales cycle, there needs to be enough information to help them make a decision. Even qualified leads need education on why they need your offer and why they should purchase from you and not your competitors. It’s also important to keep track of why customers buy from your competitors, or just don’t buy from you again.

Handle your leads more effectively with the use of crm enablement platforms like Hey DAN. With their data entry, management, note-taking, and profile management, you can make sure that you’ll never lose sight of a qualified lead even after they convert.

By utilizing Hey DAN’s Voice to CRM technology, your sales teams can work on the things that matter. Instead of wasting their valuable energy on time-consuming administrative work, they can focus on what they do best. They can make sure that each nurtured lead into not just purchase but lifelong loyalty.

4 Key Stages of Lead Generation

Leads are the potential customers that each business wants to start a relationship with. From online to offline campaigns, lead generation campaigns find prospective customers, segment them, and then nurture them into a purchase.

So, how does a customer become a stranger into an advocate for your brand? There are four keys stages that they have to go through:

Attract

Customers don’t just show up in your store. They need to know who you are and how you can help them with their problems. The first step is building the right channels that represent your products and services. It should show information that any customer will need at every stage of the buyer’s journey.

The next challenge is to make sure that the right people know about you. Using a mix of online and offline campaigns, marketing teams start the process of separating strangers from potential customers. One of the main goals is to build trust with your brand through engaging and relevant content. Customers who take the time to view your channels want to know more before making any commitments.

Convert

Once companies have their potential customer’s attention, it’s time to engage them. To continue the relationship after you first meet, companies need to get their contact details. In this lead generation stage, a call-to-action asks for their personal information in exchange for access to a benefit such as freebies, special promo prices, or exclusive sales.

Often going from the conversion to the closing stage is not instantaneous, and many customers need time before they move into the next level of their buyer’s journey. This time should is filled with educating the customers on just what the products and services are, but how they are relevant to their individual needs.

Close

Once a customer believes that you might be the right answer to their problems and give you their personal information, then companies have now captured them as leads. Unfortunately, not all leads are the same. Some leads are better than others, but great leads are nothing without proper relationship management.

A great CRM system will tell you exactly which leads to prioritize and where they are in their journey. CRM systems help companies keep track of their movement along the sales pipeline.

Delight 

Once a lead has converted into a sale, the relationship is far from over. Companies that pay attention to their customer’s after-sales journey make them more likely to be repeat customers.

Simple actions such as engaging them again through smart content, asking them for feedback on how to improve your offers, or even cross-selling other products can improve the customer’s over-all lifecycle value.

Leads don’t just happen; they come into fruition through the various joint efforts of marketing and sales. They’re also continuously moving across the sales pipeline and always on the lookout for better offers.

Luckily, companies don’t have to worry about the lead generation process by themselves. Sales performance management can be improved partnered with companies like Hey DAN that does CRM Data Entry with their voice to crm solution. Your sales team may now focus more on nurturing their leads, and closing sales.

5 Qualities Of A Great Sales Lead

Marketing teams do their part to make sure the world knows about your company’s offerings. Ideally, they gather leads from a sea of prospective customers from various lead-generating campaigns.

From digital ads to on the ground activations, the marketing department brings in leads for the sales teams to analyze and prioritize. Afterward, sales teams determine which sales lead to pursue.

Up-to-date, relevant data

No matter how great a lead, you can’t build a relationship with them if you can’t keep in touch with them. Some of the information that each prospective sales lead worth pursuing include names, contact details, demographics, and purchasing behavior. Without accurate data, a sales lead can turn cold in days if sales teams don’t follow up on time.

Expressed interest in your product or service

Customers who are interested or in need of your product will likely have a moment they’ll express interest in it. From clicking on an ad to signing up for your company’s mailing list, there are plenty of ways to identify people who have already seen the value of your offer.

Already did their research on your company’s offerings

Sales leads that are serious about the purchase will make sure that they know everything they need to know about your product or service. A good sales lead will search for themselves what your product is, what makes it different, and how to purchase it.

History of replying to your sales teams

Customers need time to decide on whether or not a product or service is the right fit for their needs. However, too much time might also signal a dwindling lack of interest. A way to test how serious they are with their purchase is if they actively reply to your salespeople who reach out to them.

Capacity & authority to pay for your services

It’s not enough to want to avail of a product or service. The customer you are engaging with must be able to make the final decision. Great sales leads have the financial capacity to pay and the authority to make the purchase. It’s great to be an aspirational product, but at the end of the day, businesses need paying customers.

Great sales leads don’t just happen. They’re a combination of marketing efforts, sales strategies, and an effective customer relationship management system. Staying ahead of the competition means making sure that your data is correct. It’s then followed by extensively profiling your leads and identifying which relationships are worth pursuing. Despite being the gold standard, great sales leads are not a guarantee for conversion into paying customers.

Building an effective CRM system is a daunting task for any company. It requires teamwork, consistency, and effort. Luckily, companies don’t need to go through the journey of nurturing your sales leads alone. Sales enablement platforms like Hey DAN can help you on sales performance management. From the data entry, profile updating to even consulting, and identifying new opportunities, Hey DAN can help you nurture your prospective leads into paying customers improving sales.

3 Main Types of CRM Leads

Leads are the lifeblood of a great CRM system. For most CRM systems, a CRM lead is a kind of customer who could already be in your sales pipeline but has not completed their lifecycle yet.

Unfortunately, not all leads are made equal. Focusing on the wrong ones can be detrimental to both your company’s budget and your teams’ time. So what are the types of leads in a CRM system?


3 Main Types of Leads

Information Qualified Lead (IQL) – Cold Lead

In the early stages of interacting with your customers, companies are often given contact information in exchange for freebies, promotional offers, or relevant information. With a stream of nurturing activities from marketing and sales teams, IQLs need to learn more about your company, your offerings, and how it answers to their particular needs.

IQLs can be considered cold leads. More often than not, it’s good to keep tabs and regularly maintain your relationship with them. However, they shouldn’t be a priority for your team’s follow-up strategies.

Marketing Qualified Lead (MQL) – Warm Lead

Marketing Qualified Leads are a kind of lead that is likely to convert into sales. While they’re not likely to buy right now, they are likely to respond better to being nurtured. MQLs are also called warm leads. After a combination of time and effort, they can become paying customers.

Different companies will have different ways of qualifying an MQL. It is often a combination of the prospective customers’ positive interactions with your marketing campaigns, their existing history, or how well they fit into your ideal customer persona.

Sales Qualified Lead (SQL) – Hot Lead

A Sales Qualified Leads is also what you call a hot lead. The main difference between MQL and SQL is their readiness to commit to purchasing your product or service. After being qualified by marketing, prospective customers are nurtured by sales teams to avail of your product or service.

Through careful vetting, sales qualified leads to feel that their needs are understood. The marketing department’s budgets are also better spent, and the sales teams maximize the effort they are putting in.

Nurturing Every Kind of Lead

The key to a great CRM system is knowing exactly where each lead is in their buyer’s journey. As a rule of thumb, it’s always best to prioritize the hottest leads first before going after the colder ones.

It’s not enough to have a lot of leads. You also have to find good quality leads. With limited time but a mountain of opportunity, sales teams need help to find the best prospective customers at the right stage and the right time.

One way to make sure that each lead is taken care of until they are ready to be closed by sales is by working with Voice to CRM enablement companies such as Hey DAN.

With their data management system, consulting services, and opportunity spotting technology, they can help you nurture each kind of lead at every stage of the sales pipeline.

Lead Generation Channels

Lead generation is the necessary first step that all companies must do to be able to find the right customers in a sea of strangers. The rise of the internet and social media has changed the businesses sell to customers. Instead of shouting from mountaintops hoping the person will hear, brands now can speak with their ideal customers with a few clicks.

There are two ways the main channels to generate any kind of leads: online and offline. But between those two channels are endless ways to find the right customer who’ll have a need and can afford your offers. Here are a few common ways that companies can generate leads:

The Two Types of Lead Generation Channels

Online

  • Digital Advertising
  • Free Trials
  • Exclusive Sales
  • Webinars
  • Free Items with Sign up
  • Cold Emailing

Offline

  • Networking Events
  • Sponsorship
  • Show Rooms & Exhibits
  • Activation Booths
  • Cold Calling
  • Discount Card

Both lead generation channels will have their pros and cons. Online lead generation campaigns are generally cheaper and more targeted, but they are also more prone to fraudulent data. An offline campaign is more likely to generate correct information through form validation techniques. However, it is harder to pin down their actual conversion rates and at higher risk of fraudulent data.

The Role of Lead Generation in the Sales Pipeline

What the two channels have in common is that both can only be as effective as the overall strategy and execution excellence. It’s not enough to do them in passing. Campaigns must work with the right mindset, timeline, and expertise.

All great sales teams know that while generating leads is the first step, other steps need to happen before they become customers. A Lead must be assessed through both sales and marketing departments before they are qualified and prioritized. The lead generation process requires help from both marketing and sales teams. Customers need to feel listened to with the right content at every stage. Even after they make a purchase, companies still need to listen to their feedback make an effort to keep them as lifelong customers.

CRM and Lead Generation

No matter where the leads come from, companies will still have to manage each relationship. There’s no better way to do this than to utilize Customer Relationship Management (CRM) systems. A well-designed and maintained CRM system is one of the best tools that any company in any lead generation campaign.

Thankfully, there are sales enablement platforms like Hey DAN that can be your partners in not just generating leads but also nurturing them even after purchase. Hey DAN can help you with the initial data entry and management to maintaining your sales pipeline. With their expertise having served thousands of clients before, Hey DAN can help you spot opportunities that you may have missed. Companies can benefit from their years of experience dealing with clients from different industries to maximize their sales performance through optimum lead generation. Don’t just dream of quality leads; think of lifelong customers that are advocates for your brand.

What is Lead Generation

 

Lead generation is the process of acquiring leads through marketing to convert them into paying customers. It’s when a prospective customer enters your sales pipeline for the first time and starts the journey towards learning more about each other.

There are many ways that companies start relationships with their customers. Starting with the awareness of your offer and sharing what makes you different, the relationship that upon nurturing well can last a lifetime.

Why do we need to generate leads?

Generating leads is important because it helps companies can better focus their efforts on the right kind of customers. Sales teams have a wide range of roles to fulfill – prospecting customers, nurturing relationships, and converting sales.

Being able to identify who will need their offers, and afford to make that decision will mean a huge difference. From knowing what is a good and bad lead, companies can save thousands of dollars in marketing expenses, sales team hours, and overall team morale.

How do we generate leads?

With the rise of the internet, online and social media has changed the landscape of lead generation. Prospective customers are more educated now than ever. From checking reviews from previous users, reading about your company’s status on industry reports to even reading direct comparisons with your competitors, customers need a lot of information before making a purchase.

A combination of on the ground activations, great content, and online campaigns can generate leads. From compelling blog posts, special events, or webinars to eBooks, once a customer has given a significant amount of time and shown enough interest to give their contact details, they become a lead.

What makes lead generation difficult?

While great leads exist, so do bad ones. Pursuing bad leads may even be worse than having no lead at all. One of the biggest reasons that lead generation is hard because it can be either very expensive or incredibly time-consuming.

For leads to be good, they must have accurate, relevant, and up-to-date data. They also need to be segmented into high and low priority and followed throughout their journey in the sales pipeline.

Improving the lead generation system

Lead generation is a tough business. Making sure the lead generation process is efficient and effective needs more than just a one-off set up process.

It’s a combination of marketing and sales working together to paint a clear picture of each customer. It requires continuous refinement of the buyer’s persona, understanding the customer lifecycle, and refining the nurturing process. All of this can be possible only with the right foundation of CRM data.

Your partner in lead generation

While the journey to generating leads may be difficult, companies don’t have to do it alone. By partnering with sales enablement platforms like Hey DAN, companies can utilize their consulting services to analyze opportunities throughout the sales pipeline.

Hey DAN also does data entry, clean up, and management services, which are essential to making sure that your company gets not just quantity but also quality leads.

 

The importance of the proper Follow-up

You just attended a big networking event and you’re excited about the potential from the day’s activities. Assuming you’ve done your homework (gathering, inputting and studying the information from your CRM system), you know the next step is to do a follow-up with your leads, but what is the right approach?

The importance of the follow-up sequence

A quick follow-up keeps the conversation going, so make sure to touch base the day after that first meeting. If it was a large event, perhaps people are traveling back to their homes or offices and won’t have time to read a lengthy email. A quick and simple email that states your appreciation can make your client feel important and keep the communication line open. This will also cultivate, at an early stage, a positive relationship. By the second or third correspondence, you can already gauge the individual’s interest and determine your next move.

Quality is Key

People can usually tell when you are sending a generic follow up or even worse, immediately putting them in an automated drip campaign. For high value prospects, a personalized message should be sent. The personalization doesn’t have to be long or complicated. You can simply reference a topic of mutual interest that was discussed at the initial engagement or congratulate them on a personal achievement they shared. After a day of networking, we know how hard it can be to recall the details of these discussions, but ensuring you have those details written down and accessible makes the difference between a generic and impactful follow up. Leveraging a CRM system, a voice to CRM add-on and combining it with the discipline to always ensure the engagement details are captured while they are fresh in your mind, will enable you to stand out from the crowd.

Timing

Determining when to follow up and at what interval can be tricky. Wait too long and the prospect might have already forgotten you. Acting on it too soon and you run the risk of coming across as a hard sell. Although there is always the remote possibility of succeeding, that would be the exception and not the norm. Proper timing often spells the difference between closing or losing a prospect. Since every client has a different personality, you can customize your follow-up timing for those select few. But to determine when to make a follow-up, it’s a good idea to have a general set of rules.

Third time’s the charm. Set the number of follow-ups to three times per prospect. This means that if you don’t get a response after the third time, then maybe it’s time to move on to the next. But don’t delete the prospect, just put them on your list of future follow ups (perhaps in a quarters time?), which leads us to;

Rekindling

We think that a non-responsive prospect is a non-interested one, but it can be for a number of reasons. There are times that the message you sent failed to get through (it happens);or maybe the person is preoccupied with something else; it could also be that what you’re offering may not be the priority at the moment. Whatever it is, don’t forget about them, give them some time and space and then rekindle the connection. Wait for as short as a month and then you can send them a “catching up” message – but never throw out a contact.

Making it fool-proof and not making a fool

Having incomplete or error-filled data captures can lose you all those leads you worked so hard at. You need the right information to make the correct follow-up on all those prospects. The more details from the conversation you can recall in your follow up message to make the discussion meaningful and personal, the more likely you are to succeed at the follow up engagement. Leverage your CRM data, ensure that data was entered while the conversation was fresh in your mind. Services like Hey DAN, a Voice to CRM service that provides fast and efficient data capture will populate your system with all the information you deem important. It’s as simple as dictating all the info into your phone and letting the technology do the rest so you can move on to the next engagement while ensuring those important conversational details are captures and available for when you need them. So the next time you make a follow-up, confidently take that client information and send those follow up emails that stand out from the crowd..

Hey DAN Ranked by HubSpot in the Top 10 in CRM Sales Tools

HubSpot, an established authority in sales and marketing, ranked Hey DAN among their list of “The 10 Best Networking Apps Every Sales Professional Needs”. Formerly Dial-A-Note, Hey DAN’s Voice-to-CRM service is showcased for improving the quality of information captured on new prospects. Speaking notes after a meeting ensures that sales reps can add contact profiles along with details of their interactions to their company’s CRM right away so they don’t forget pertinent information. Hey DAN’s Voice-to-CRM solution is quick and easy which allows sales team to “get back to meeting more people” hence gaining it’s Top 10 status in CRM tools for Sales by HubSpot.

HubSpot recognizes the reality that “Networking often takes place…when you least expect it — like standing in line at the airport. What’s important is that you’re always ready to make the most of any encounter with a prospect.” Hey DAN stands out among the apps listed as the tool that most meets this need. Other tools recommended by HubSpot include presentation sharing apps, news aggregators and lead generators which all help to seek out and prepare for impromptu networking opportunities; but of all the tools showcased, only Hey DAN users are ready to capture meaningful insights when those opportunities are at hand. With Hey DAN’s Voice-to-CRM service, sales reps are best able to capture key information, and this data helps them to capitalize on more opportunities.

No other Voice-to-CRM technology was included in HubSpot’s recommendations suggesting that Hey DAN’s approach is a stand out among similar services. Unlike most speech technology available today, Hey DAN doesn’t require users to make adjustments to their ways of speaking for it to function properly. It is built on AI that is seamlessly incorporated with human intelligence giving its users the best of both worlds. The service can accurately capture complex data and enter it promptly into your company’s chosen CRM — be it HubSpot or any other. It is a ‘technology service’, rather than strictly a technology.