Leads are the lifeblood of any business, and it is important to know how to identify and acquire them. There are lots of good sales automation tools like construction estimating software and automated quoting software that can provide a company with new customers and also help grow the company’s existing customer base.
Many marketers and salespeople focus on quantity of leads and not quality. When it comes to lead generation, people think that the more leads they get, the better. But this is not always true.
The fact is, the quality of your leads is far more important than the volume because if they are not qualified, then you are wasting your time and effort trying to generate revenue from them.
What’s The Difference Between A Cold Lead & A Qualified Lead?
A lead is anyone who has shown interest in your company. They may or may not become a customer as they may or may not actually need your services or be able to afford them.
A qualified lead is a sales lead that has been pre-qualified and is highly likely to purchase your product or service. Much closer to a typical “warm” lead, they have already moved down your sales funnel before you even speak to them. This type of lead will provide a higher conversion rate and lower cost per lead, so companies should focus on generating these types of leads rather than just focusing on the quantity. Tools such as estimate calculators and CPQ software can be invaluable in acquiring qualified leads.
Advantages Of Qualified Leads Over Volume Of Leads
1. Increase in Revenue
When you concentrate on lead qualification, it means that your team is spending more time and attention on good leads, which will increase the volume of their sales funnel too. This will result in deals being closed faster, thus increasing revenue.
2. Improved Alignment Between Marketing and Sales
When you have a strategy to identify marketing qualified leads, it leads to better communication and coordination between the sales and marketing teams. This helps them avoid friction and be more productive.
3. Saves Time and Effort
When your leads are qualified, it means your sales team is spending their time well and their efforts aren’t wasted on generic leads that may or may not convert.
4. Better ROI & Customer Satisfaction
Having highly qualified leads helps your marketing people identify their specific target audience where they can direct their content. This results in better quality content, which leads to greater returns on investment as well as higher customer satisfaction.
The bottom line is, quality is better than quantity. It’s always better to have a narrow and focused pool of quality leads with high purchasing power than a profusion of leads who are only interested in inquiries and may result in zero sales.
So, invest in an automated estimation tool with a good lead qualification system like Sinapi, so that you can focus on generating revenue from high-quality prospects instead of spending time on low-quality ones.
Learn more about qualified leads and how to get them at: