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Attributes of a Well-Qualified Lead
| Guest post by: Dan McDade |
Article Overview: With a detailed picture of a prospect's business drivers, plans and buying process, the sales executive can be positioned as a knowledgeable business advisor rather than having to essentially requalify so-called leads on the front-end.
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Free Download - Marketing Tip: If You Only Do One Thing, Qualify Your Leads By Dan McDade |
Attributes of a Well-Qualified Lead
There is a lot of talk about "BANT" in the marketplace today. "BANT" stands for budget, authority, need and timeframe; and there are some managers specifying that each element of "BANT" must be satisfied in order for a sales opportunity to be truly qualified. I don't actually believe in this practice, and I'm hopeful that you will agree with me.
For many if not most "enterprise deals" (or "the complex sale") it is not at all unusual for budget to be worked out during the sales process and via the use of a business case. If you prequalify for budget in those cases-you will find no leads. Similarly, the lack of a specific timeframe should not necessarily disqualify a prospect. If you find a decision-maker (real authority) with addressable pain, timeframe can be accelerated with analysis and a compelling business case.
That being said, there are ideal criteria for highly qualified sales opportunities and a high-end partner will address each and every one of these criteria when delivering qualified prospects to the field:
- 1. Vertical (SIC or NAICS code)
2. Firmographics (revenue, # of employees, # of locations...)
3. Decision makers/influencers and respective roles in the decision-making process
4. Environment (related to each solution-such as "technical environment")
5. Decision maker level of engagement (engaged, referral but in the loop...)
6. Business issues/pains uncovered and validated
7. Decision making process and documented
8. Budget allocated or process for establishing a budget documented
9. Competitive landscape documented
10. Sense of urgency or compelling event
With a detailed picture of a prospect's business drivers, plans and buying process, the sales executive can be positioned as a knowledgeable business advisor rather than having to essentially requalify so-called leads on the front-end.
I'd love to hear your thoughts...
If you are a C-level or SVP-level executive, how much more effective might your sales executives be if they were provided with high quality sales opportunities rather than low-level leads?
If you are in sales, what percent of the leads you currently receive contain information about all ten criteria listed above? How about seven out of ten?
If you are in marketing, would it be helpful to prequalify leads, turn over those that are sales ready and nurture the rest? How well is that being done in your company today?
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Article Tags: complex sale, leads, prospect development, prospects, qualified sales lead, qualified sales opportunity, sales lead generation, sales opportunities, sales opportunity
Referred by: http://www.findnewcustomers.com
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About the Author: Dan McDade RSS for Dan's articles - Visit Dan's website Dan McDade founded PointClear in 1997 with the mission to be the first and best company providing prospect development services to business-to-business companies with complex sales processes. He has been instrumental in developing the innovative strategies that drive revenue for PointClear clients nationwide. In addition to serving as president and CEO of PointClear, Dan is the author of The Truth About Leads, an insightful book that sheds light on the little-known secrets that help focus B2B lead-generation efforts, align sales and marketing organizations and drive revenue. Prior to starting PointClear, Dan served as president of UST, The Business Marketing Group, a high-tech B2B marketing services firm. The company, serving leading technology companies including Sun Microsystems, Texas Instruments, Oracle and SAP, grew over 500% during his tenure. From 1989 to 1991, Dan was an independent consultant providing direct marketing, telemarketing and new business development consulting services. Clients included Sears, Exxon, Rodale Press, R.J. Reynolds, and The Ritz-Carlton. Dan also served as vice president of marketing with Jackson & Perkins in Medford, Ore. Dan is chairman of the board of the Technology Association of Georgia (TAG) Education Collaborative, an organization promoting STEM (science, technology, engineering and math) education in Georgia's middle and high schools. He is a member of TAG, and also serves on the boards of TechAmerica Southeast (formerly AEA); the Business & Technology Alliance, a TAG society; and TAG Marketing. The Sales Lead Management Association named Dan one of the 50 most influential people in sales lead management in 2009 and 2010. Dan is also the author of ViewPoint | The Truth About Lead Generation, a blog exploring issues related to B2B sales, marketing and lead generation. Click here to visit Dan's website   Lead Generation Best Practices Multiply TouchesMediaCycles 3 Good Reasons Marketing Should Qualify Leads Before Passing to Sales Lead Generation Best Practices Measure Beyond CostPerLead Sales Marketing Still Not Aligned Who Owns the Fix Driving Revenue Ten Actions Senior Management Must Take Immediately |
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