My company sells customer relationship software. We also do other technology consulting work. Our more than 600 clients sell cars, construction projects, legal services, pipes, paper, film, and 401K plans. You name it, they sell it. We all get sales leads. And we all, to some degree, use the lead management functionality in our CRM programs. But these are just databases. And the data is only as good as the people putting it in.
There are leads and there leads. Your job as a sales and marketing person is to categorize those leads. Is this a good lead or lousy one? A big one or a small one? Worth pursuing or a time waster? Correctly quantifying the value of a lead as early as possible will ensure that you and your people are spending the right amount of time on it. I believe that there is no such thing as a bad lead. If someone has raised their hand and shown an interest in your products or services, it means that he’s a buyer… now or someday. The trick is determining where the money is now and what can wait. And it’s all about asking the lead a few questions. Three questions, actually.
Where are you in the process?
You will have a different conversation with a prospect who is at the very beginning of his search versus one who is further into it. If he’s at the beginning of the search, you are going to spend more time educating. You will need to be more patient. And, after laying all the groundwork and providing your excellent information, you may very well have your deal whisked out from under you by someone who comes in later on with a better deal. You should have good documentation, websites, and resources to share with the prospect so that he can do more research on his own at this early stage in advance of your getting more involved when he’s a less-ignorant buyer. And you’ll have to set your expectations that this deal may not close for a while (if at all) once this person starts getting more info that may put him off doing anything.
What do you think of our pricing?
This infers that you have shared your pricing with the prospect. You need to do this as early as possible. Some salespeople like to hold off on disclosing pricing while they “build value.” That was nice in 1970. Today, people want information now. Immediately. And this benefits you, too. If a prospect is blown out of the water by your pricing you want to know that sooner rather than later, right? There’s no sense in spending any more time with someone who can’t afford your products or services. At best, maybe you can direct them to another offering of yours or even make recommendations that will leave him feeling good about your conversation. Talk about money right away. Don’t beat around the bush.
Why?
That’s it. Just… why? Why is this guy talking to you instead of one of your competitors? Why is he interested in your products and service? You need to understand what’s behind his motive. You need to determine as early as possible his issues and most importantly whether your product or service is the right one to solve his problem. If it is (and he’s got budget, and he’s further along in the process) you’ve got a good, qualified lead. And now you’ve got some good information for your CRM’s lead management system that can be categorized for specific follow-ups and ongoing communications. It’s time to put your sales hat on and go!
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About the Author: Gene Marks is a small business owner, technology expert, author and columnist. He writes regularly for leading US media outlets such as The New York Times, Forbes, Inc. Magazine and Entrepreneur. He has authored five books on business management and appears regularly on Fox News, Fox Business, MSNBC and CNBC. Gene runs a ten-person CRM and technology consulting firm outside of Philadelphia. Learn more at genemarks.com
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