Are your sales team members having a hard time finding quality leads? Are they spending more time than they should on people who may never change? If yes, it is time to optimize your prospecting system.

In this article, we will discuss tips of how to divide and obtain qualified leads. These methods are sure to help your sales team achieve sufficient revenue with maximum efficiency.

Classification of Prospect Leads

In order to appropriately obtain leads, start by dividing them into four main types:

1. Cold Prospect

These are potential clients who have never affiliated with your brand or business. You don’t know them and they don’t know you, which means contacting them may require a lot more work and strategic outreach.

2. Targeted Cold Prospect

Targeted cold prospects have a prior known information about them. You might know their Name, Address, Business, Interests, or even previous interactions (if they had any). These individuals may have heard of your business, but may or may not know much about it.

3. Warm Prospect

Warm prospects are those who have taken some level of interest towards your business. They may have: Visited your website, Called customer service, Filled out an inquiry form, or Followed your business on social media. Because they are already invested in your brand, taking the time to nurture them with some personalized follow-ups increases leads conversion.

4. Hot Prospect

Prospects who are “hot” are ready to buy. They have:

Stated strong interest

Obtained more specific information

Inquired about cost or delivery methods

These should be your highest priority leads. Closing these deals quickly helps ensure that your revenue does not fluctuate.

Defining Your Cold Prospects

When you have identified cold prospects, make sure you further classify them into three groups:

A) Concerned Customers

These customers have a problem that needs to be solved. To qualify them, ask:

What their issues are?

Have they attempted to fix the issues?

What are the outcomes they are looking for?

B) Customers Not Fully Convinced

These consumers are hesitant to make a purchase. They may be comfortable in their current state and do not see any requirements for your product.

C) Boss Customers

This type of customers are pretty much impossible to deal with. They give a lot of interest but never fully complete the action of converting. You will find great value in removing them from your leads list and in turn will save time and energy.

Incorporating the CHAMP Formula for Lead Qualification

Defining a qualification framework guarantees that your team works on the important leads. The CHAMP process allows you to eliminate low promise prospects:
C – Challenges

Knowing customer challenges is key. If there is no real issue, there is no incentive for them to purchase. Make use of the NICE analysis:

Need

Interest

Concern

Expectation

H – Authority

Is the one you are talking to the final decision maker? If not, find out who makes the final decision in order to reduce the sales cycle.

A – Money

Can the prospect afford your product? Talk about their financial ability upfront in order to not waste time later.

M – Motivation & Prioritization

What is the level of urgency? If the prospective lead requires a solution urgently, they are prioritized leads. If not, they fall under nurture funnel.

Optimizing Sales By Lead Qualification

Analyzing and qualifying leads correctly gives your team the sales edge and allows your company to:

Focus on the most opportunity rich leads

Improve sales productivity by reducing unqualified prospects

Increase their chances of closing deals

Boost profits

Final Thoughts

Classify your leads as Cold, Targeted Cold, Warm, and Hot.

Classify customer types at Concerned, Not Convinced and Boss Customers for targeting purposes.

Use CHAMP to refine your leads.

Teach your sales personnel to track the leads that are most useful to them.

Selling becomes more effective and business growth is easier by making simple adjustments to your lead qualification strategy. Take advantage of these tactics immediately, and observe the increase in conversions.