How To Handle Sales Leads That Bring Revenues To Businesses

  • August 10, 2022
  • Marketing

How To Handle Sales Leads That Bring Revenues To Businesses

  • August 10, 2022
  • Marketing

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If you’re a business owner, or even a marketing manager, you know very well the importance of PPC and other marketing techniques to get a huge revenue ratio for the business.

You may get sales leads in a hundred, if your team is working really well. But do you convert them all?

A potential sales lead plays a vital role in grabbing the attention of your audience. Leads are typically obtained through a sales funnel, through a referral of a customer, or directly through paid marketing.

The marketing team of the company plays a big role in getting those leads properly verified, and they’re responsible for getting them on board for the company.

Anyhow, to know how to approach potential customers, who will bring in revenue to your business, you first need to define the business idea, and vision to the clients.

However, before jumping into the main topic, let’s first discuss the literal meaning of sales leads.

What are sales leads?

Sales leads, nevertheless, are simply the potential customers who are mostly the ones who will purchase your services.

However, SEO services play a vital role in bringing those leads to sales representatives. A prospect can be anyone, who shows a prior interest in the company’s services.

You definitely have to create two-way communication with the clients to know the requirements; otherwise, you won’t give them what they’re looking for.

The process of sales navigation never ends, until the time you finally reach the ideal situation that is, your loyal customers onboard for the services.

sales leads

Image Reference: Hubspot 

Lead generation has never been an easy task, and still, sales representatives have to take the first step and come up with unique ways to convert those suspects into leads.

According to Hubspot, more than 61% of marketers consider leads generation one of the toughest task.

Let’s dive into the basics.

What are sales leads? Why are they important?

Sales leads are the lifeblood of any business, without which they can not survive in this competitive environment.

Regardless of the core offerings, and services, it’s really difficult to generate leads, and later convert those into potential sales leads.

However, before we dive into the different types of sales leads, there are some important elements that you should indulge in the sales funnel.

The sales manager should have the following skills, and traits to get potential customers on board;

  1. Proficient communication skills
  2. A desire to learn more
  3. Prior knowledge of the company’s services and products
  4. Upselling the services

So, to nurture how to manage all the types of sales leads in a cost-effective way, here is a quick overview for your ease.

The 6 Types Of Sales Leads Beneficial For Company’s Success

In this section, we will learn about the different types of sales leads beneficial for the success of any company.

1. Suspects

Some of the clients are called suspects, for a reason. They might show interest in the product or service when they’re visiting a vendor’s website to obtain all the relevant information.

In short, getting suspects to move forward with the sales funnel towards a purchase is indeed a task that requires attention, precision, and effort.

In the lead nurturing process, the marketer maintains smooth communication with the customers, providing them with all the necessary information.

The end goal is to make the potential customer fall in the queue, where they are willing to pay for the services.

2. Warm Sales Lead

You must be getting an idea of what warm leads are from the name. Warm sales leads are very familiar with your brand.

Clients who fall into the warm leads canvas might find your company through a referral from a close friend or colleague.

There are chances that they discovered you through inbound marketing efforts done by the marketing collateral like social media marketing, blogs, and SEO.

Mostly, they must have reached out on purpose, with the vision to find the relevant answer to all the problems.

You can start the conversation with warm leads, and keep it simple to maintain consistency. You can gain the attention of the customers easily, as compared to cold leads.

Reach them out via phone, email, social media platforms, or even a simple SMS to remind them of past conversations that might have gone under the radar.

3. Hot Leads

Contradictory to warm leads, hot leads are simply the potential customers who show instant interest in the services and want to purchase them at the moment.

Prospects that indicate an immediate need for the offered services or products come beneath the hot leads.

4. Cold Leads

Cold sales leads remain at the top part of the funnel, and this seriously doesn’t mean they’re the easiest ones to grab.

It’s because the representative has to pay extra effort to such leads because they rarely know about your business. Coincidently, they have liked, or shared any of your social media posts that grab your attention towards suspects.

Most marketers and sales representatives use the BANT system, which means budget, authority, needs, and time frame to categorize and tackle such leads with full potential.

In short, these kinds of sales leads are really hard to nurture, and mature because the SR dealing with them has to put a lot of effort, to educate them about the services.

Making them recognize the brand, and pitching the services along with the products is way difficult, especially when the suspect is rarely interested.

Cold leads could be anyone who once drops down into your emails or social media posts. The goal is to make them familiar with the company’s core offerings, and determine if they’re beneficial for the company’s growth or not!

5. Information Qualified Sales Leads

Next, we have information on qualified lead, IQLs, which are a type of warm sales leads that have already given you the necessary information regarding their needs.

These kinds of sales lead usually fit the demographics of your potential customers; however, you may know anything else about them.

6. Marketing Qualified Leads

Lastly, marketing qualified leads (MQL) is a type of prospective buyer that shows vital interest in the product but doesn’t want to make any purchase in the near time.

Comparatively to the IQL, MQLs have a high ratio of purchase intent; still, the customer representative has to spend time and put effort to make the purchase done smoothly!

In a nutshell,

We would suggest that companies who’re high on sales can automate the process, and watch the scoring through various Customer Relationship Management (CRM), and Marketing Automation Systems (MAS).

How can you identify the sales leads?

The identification process depends on the sales funnel, and determining which prospect can become a potential lead!

Depending on the size of the sales team, and how much experience they have in sales and marketing really helps.

Anyhow, the sales representative should have a high command of communication and very well how to convert that cold into warm leads.

FAQs

Here, we will cover some of the best and most amazing sales lead-related queries for your ease.

How can I get sales leads quickly?

You can get leads quickly by running Google Ads; however, the sales representative has to make the call. A little mistake can make you miss the potential leads who might be good enough for your business growth.

What do sales leads do?

Lead simply help you in generating revenues for the business, which is somehow beneficial for business growth. However, if you still need assistance with the conversion,  indulge people with prior experience to easily do the sales.

What are good leads?

All the leads that can be easily converted are termed as good leads. Warm leads are known as good leads, that can be easily converted because of the immense interest of customers.

Wrapping Up

And that’s all for the day! We hope you all enjoyed reading about the different types of sales leads beneficial for business growth.

If someone has the potential to start a business, they simply have to open up two departments sales, and marketing.

The marketing team would have creative writers, illustrators, search engine optimization experts, and others to do the needful.

However, the sales department would handle clients, and bring in revenues that would assist the company to reach its vision.

Aeish Jay

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Aeish is a techie, nerd, and brilliant content marketer with an urge to explore new tech trends & induce them in the content pieces. A writer by day and an observer by night who loves to unfold the best content strategy to facilitate the readers! She loves to chill & spend time with friends watching "FRIENDS."