Qualifying Leads Saves You Time and Makes You Money

Qualifying sales leads is critical to the sales process and is vital to the success in a sales and account management role. Use a simple CRM and sales tracking app like Base to manage all stages of your sales pipeline. Properly filtering out good leads from bad will help you save time and maximize the potential of closing more deals and making more money.

 

Why is Qualifying Leads so Important?

Qualifying leads helps you prioritize potential deals so that you can allocate the right amount of time to the right activities.  Qualifying prospects helps you schedule your time appropriately, ensuring you don’t miss out on opportunities. After all, time is money!

  • How many times have you missed out on a profitable deal due to the wrong timing?
  • How many times have you spun your wheels in vain when a deal really wasn’t ever going to happen?
  • How many times have you wasted time on a client who couldn’t afford your offerings?

Read on for some steps to help you qualify and effectively manage your leads.

Lead Organization – An Essential Sales Skill

Organization skills and organizational tools are going to help you manage multiple leads and keep all the facts straight. A spreadsheet won’t do. Use a CRM and sale pipeline management software to help you qualify leads, track your sales, and keep in contact with your clients.

Ask Open Ended Questions

The conversations you have with leads and questions you ask will help shape your prospects needs. Asking the right questions is going to help you figure out if your service is a match for their needs. The right questions will, in fact, help you figure out if a lead is qualified and it’s worthwhile to proceed.

Descriptive and open ended questions will get you more than a yes or no answer. The info contained in those answers can help you create a realistic picture of the timelines, need, and can help you find out what it might take to actually close a deal. This is the case whether you’re asking questions in person or on the phone or whether you’re converting a website visitor into a lead by having them fill out a questionnaire.  Keep all the details of these conversations in your CRM tool so that you can effectively manage and maintain all the facts.

Make Sure You’re in the Right Position

  • Does the lead have the budget to make the deal happen now or are they shopping around really early in the process?
  • Is your pricing in line with their budget?
  • Is there enough margin in the deal to make it worth your efforts?
  • Does your offering really meet their needs?
  • Who are your competitors?

Tip: Assess the Competition! Know your competition, their offerings, and use that information to show your business’ value. Present your company as the better solution than your competition regardless of price.

Asking yourself the above questions can help in the lead qualifying process and can reduce wasted time spent on deals that aren’t a good fit or that just aren’t likely to happen.

Insert Leads into a Sales Funnel

Sales funnel software can help you manage leads in a way that directly reflects and affects the qualification process. Sales funnel stages can help you understand the likelihood of closing and sales funnel software that includes analytics can help you do post-mortem assessments to ensure that going forward you are able to close deals for as many qualified leads as possible.

 

Taking the time to find out as much as you can about each and every sales lead that crosses your desk can help you categorize it, track it, and determine the best way to act on it so that your valuable time is spent turning more leads into sales.

About Dana Prince

Dana Prince writes for Future Simple’s Growth University. Dana blends her passion for entrepreneurship with experience in software licensing sales, product management, online marketing, and SEO writing to run Dana Prince Writing, a web writing agency that creates optimized content that helps websites succeed.
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