How to Stop Wasting Time Chasing Bad Sales Leads

chasing bad sales leads

One of the linchpins of marketing is how you approach inbound leads. With an inbound lead, there are multiple chances that you will end up successful. However, getting an inbound lead is not the end of it all. You still need to work towards making a ‘SALE’.

Many companies don’t put a quality check on their new sales leads. They simply pass every single sales lead to the sales team, even if the prospect is nowhere near ready to buy, or is a bad fit for what the company sells.

The only way to avoid bad sales leads is to start sorting them, so that you don’t waste all your effort and time after the wrong leads, leading towards dead ends. Having too many unchecked sales leads waste time of the sales team and causes the company to miss out on legitimate sales opportunities. When your salesperson is overloaded with low-quality leads that aren’t good enough to showcase your product or service, they’re going to miss the chance to talk with prospects, who are real good sales opportunities.

To escape bad sales leads, there are few common strategies rigorously followed by top marketing companies to enhance their quality of inbound sales inquiries and help you convert cold call into big sales.

1. ASK LEAD-QUALIFYING QUESTIONS

Every single prospect is unique, so stop treating them all the same because they all have different problems, pain points and budgetary interest, and they all have unique business needs that your solution have to address. Asking questions to qualify sales leads is an easy step that you can apply to prioritize and rank your leads. By asking sales-related exploratory questions, you open the gateway for building trust and a stable relationship, and you also get to know about the challenges faced in customer’s business. Another merit of asking sales-related questions is that it enables you to do ‘lead scoring’ to rank your sales leads based on how likely they are to buy.

Asking questions also results in interacting more with your prospects, get closer to solve their pain points, and you also improve at catching the sharp clues and behaviour of prospects to see which ones are genuinely interested and which ones are just calling around to do research or compare price quotes.

2. ASK OPEN-ENDED QUESTIONS

 Asking lead-qualifying question is an ingenious process that requires some artistry and sense. Don’t make the prospect feel defensive by asking too many direct or aggressive questions. Instead putting the customer under stress, proceed by asking flexible questions that get them through to talk about their pain points and overall business situation. This helps get the customer to open up a bit and share their non-fulfilment that is causing them to seek a new vendor.

 Most of the salesperson what do is they don’t listen to the needs of the prospect and just talk and talk. Asking lead quality also helps you to introspect more about the overall scenario of prospect’s business and evaluate how urgently they might be looking to make a purchase decision. Every lead qualifying question is your chance to hear more from the customer. Get them open up about their business demur and then really pay attention to what they say.

3. FOLLOW-UP BY PHONE

One of the most common mistakes made by various companies is they rely too much on the automated system. When the company gets a new inbound sales inquiries via their respective websites or online advertisement respond with an automated email reply or online intake form that asks the prospect some question what they are looking for. These new era automated tools do help, but you can’t be totally dependent on a fully automated lead qualification process.

 Instead of waiting for people to respond to the automated messages, call people back. Grab your phone and have a detailed conversation that allows you to have more ‘human interaction’ and helps you building relationship and trust. Even with the great technology we have in our hand today, human interaction is still the most powerful tool to help each other and build a long term relationship.

 So get on the phone and talk with your customers because the prospects who are in urgency to take the decision want to hear back from your company ASAP, and from a real person. Motivated buyers are probably contacting several of your competitors and there is more probability that sales will go to the vendor who contacts first. A recent study conducted gave conclusive evidence that with an immediate response you increase your chance of setting up a meeting 21 times more. This is because your product is still fresh in the memories of the client.

4. HIGH PRICE POINTS

If you have all the above aspects covered, and still not being able to convert an inbound lead, then there is every possibility that the price you offer to your products or services is too high. It is always suggested to take a good look and compare your prices to that of your competitors. Are your products over-priced? Are they worth it? If the answer is ‘Yes’, then the non-conversion of an inbound lead should not come to you as a surprise.

As said earlier, an inbound lead is just a gateway towards getting closer to a client, but still, slip towards a dead end. It doesn’t guarantee success. A lot of work effort still need to be done to get the expected benefits. Many companies tend to rely on inbound leads only. If successful they have the option to keep their worries aside. But for that to happen, it is very important to think about all of the above-written points else you have your mission cut out.

Till then, Happy Selling!

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