Lead qualification is a tough nut to crack, even if the telemarketer is smart at communicating with the prospect. It is a common practice to buy business lists
from third parties and send them over to the telemarketing team so that they can pitch for the product/service. One of the essential factors that many businesses either miss out on or don’t pay attention to is the lead qualification. It is vital to recognize the leads that are a terrible fit so that the telemarketing team doesn’t waste hours trying to convert them when this is not going to happen. The post discusses lead qualification in detail and the loss a business could incur by taking the wrong approach.
Consequences of Ignoring Lead Qualification
Many telemarketers jump to the pitch too quickly, without understanding the prospect. The situation is same as throwing darts in the dark and it hurts the performance at different levels. Here’s what telemarketers might end up losing:
Skipping lead qualification means wasting a lot of time in follow-up and reaching out to clients who are not a good fit for the business. If a telemarketer spends the same time on qualified prospects, the result could be the closure of a high-value deal.
There are chances of some prospects becoming customers, if a telemarketer invests time in getting them through the sales funnel. Pitching wrong leads implies wasting time and opportunity to connect with the high-value customers.
A telemarketer might be successful in selling a product to a prospect who is not the right fit. The end result could, however, be – an unsatisfied customer complaining of being persuaded to make a decision and someone who might not buy the product again.
Parameters of Lead Qualification
Lead qualification is less about updating the database and more about asking the right questions and getting the right information from the lead. Always ask questions and try to get more information about the lead. Some areas to focus on include:
If it is a B2B telemarketing campaign, a telemarketer needs to figure out how well the prospect matches with the profile of the ideal customer and the industry. It is also essential to know the kind of ecosystem the customer is playing in and its target market.
It is necessary to identify the pain points of the customer and see how a particular product/service is going to solve the problem. If the expectations or goals of the customers are not in sync with the end use of the product, a telemarketer might be targeting the wrong lead.
Pitching to the gatekeeper turns out to be a futile approach in many cases. If the lead doesn’t have the authority to make purchase decisions and close the sale, a telemarketer might end up wasting a lot of time in chasing the wrong person.
If the lead doesn’t have the budget to purchase a product/service, it is better not to waste time chasing it anymore. The telemarketers, however, need to ensure that the budget question is asked towards the end of the call so that the prospect is not scared off. If the lead pops up the budget question after every sentence, throughout the call, it might discourage the prospect to buy the product/service.
Are You Doing it Right?
Following a lead qualification process religiously might not deliver expected results, specifically if there’s a structuring flaw. The simplest way to judge whether the lead qualification process followed by the team is right is to look for following signs:
- When the team of telemarketers is productive
- When the customers are happy with the product/service and retaining them is easy
- When the expected revenue or sales number matches with the real one
Last Few Words
Getting a prospect to say “yes” is the Holy Grail in sales, and weeding out the nos is an essential to make the most of your efforts. Throughout the process of weeding out the maybes and nurturing the prospects, telemarketers also need to figure out the leads with the likelihood of saying yes after a few follow-ups. However, in all cases, when out to buy business lists, it is imperative to choose a provider with proven competence in the domain. If you are looking for buy business lists tailored to your prerequisites, feel free to speak to one of our representatives.