Define A Qualified Lead Marketing and sales teams often clash. Though the two functions are part of the same overall revenue generation process, the tactical functions and typical personalities of the people involved often create conflict. Lead quality is one common subject of conflict. In many B2B companies, the sales team views the marketing function as purely tactical focused solely on generating leads. Yet oftentimes sales reps don’t follow up on marketing leads, and a common reason is that “they’re not qualified.” Is your team having trouble following up on or prioritizing leads? You may not share the same definition of “qualified.” This exercise will help you establish criteria to rate and prioritize your leads.
Summary EXERCISE SUMMARY
When to Address
Who Should Participate Where to Use the Results
If your marketing and sales teams are clashing If your sales team isn’t following up on leads If your leads aren’t moving past the initial stages of the sales process Marketing and sales leaders Marketing coordinators and the sales team Apply your results to your existing sales process and marketing campaign design.
Investing in unqualified leads usually results in a negative ROI. The sales process works more efficiently with qualified leads. What Builds Upon it A few hours to an afternoon, depending on your situation Timeframe to Completion Medium Why it’s Important
Sales Process Define a Qualified Lead
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Potential Business Impact
Deliverable
You’ll determine specific lead qualification criteria for leads entering the pipeline.
Next Steps
It’s all about execution and continuing refinement and improvement
Target Completion Date
PARTICIPANTS TASKS
PERSON RESPONSIBLE
DUE DATE
Notes
Sales Process Define a Qualified Lead
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Define A Qualified Lead
What to Complete
1. FURTHER DEFINE QUALIFIED LEADS
Where it Fits in Sales Process Determine Your Current Selling Effectiveness Define Your Customers’ Buying Process Determine Sales Tools & Literature to Deliver at Each Step Define Measurement Criteria Determine Conversion Criteria Set Revenue and Customer Goals Calculate Pipeline Requirements to Meet Goals Determine Pipeline Data to Track Define Reporting Requirements Diagnose Sales Process Problems Determine Solutions Further Define Qualified Leads
1. FURTHER DEFINE QUALIFIED LEADS
Start by developing your lead priorities and definitions.
LEAD PRIORITIES & DEFINITIONS
Product, industry or customer segment Date Attendees
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If you have a formal written sales process, look at the first step when you identify a prospect and put the lead into your pipeline. What are the criteria a company needs to meet to be qualified to enter at step 1? For example, think about: STANDARD DEMOGRAPHIC CRITERIA DESCRIBE YOUR CRITERIA Industry Size of company Location/number of locations Number of employees Key contact’s position/role in company Other Other THE PROSPECT’S PROBLEM
DESCRIBE YOUR CRITERIA
What is the prospect’s problem?
How significant is the prospect’s problem? Has the key contact gained support for this problem within the company?
Looking at these criteria, do you want to break leads into priority levels? LEVEL
HOW YOU’LL HANDLE THESE LEADS
Now define the exact criteria for each priority level and establish how you’ll capture that information. Sales Process Define a Qualified Lead
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Level
Criteria the account MUST meet to be assigned to this level How will you capture each of these criteria? Be specific.
What happens with the lead if you don’t capture all of this information, yet suspect the lead falls within this category?
If you believe this lead meets these criteria and later find that you were incorrect, what happens with the lead?
Repeat for each level you’ve defined. NEXT STEPS Make sure you’ve defined how you’ll handle any problems along the way. When will your team check in to tweak these definitions and processes if needed? If a problem arises, who will be responsible for solving it? Other notes
Finally, identify any next steps that you’ll need for implementing your new process. ACTIVITY
PERSON RESPONSIBLE
DUE DATE
Sales Process Define a Qualified Lead
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Define A Qualified Lead
Report
1. LEAD QUALIFICATION CRITERIA This report summarizes our results from completing Exercise 86 – Sales Process: Define a Qualified Lead.
1. LEAD QUALIFICATION CRITERIA
Our marketing and sales teams worked together to define the following lead criteria: LEAD CRITERIA
PROSPECTS’ PROBLEMS
LEVEL
HOW WE’LL HANDLE THESE LEADS
Sales Process Define a Qualified Lead
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