Business has changed in the past few years, just like it will change in the future. This is the reality of the world, but few things have changed quite so radically as the importance of sales leads.
And yet, despite their importance, some business owners don’t even really know what sales leads are! That’s why we’ve taken the time to explain exactly what sales leads are, why they are important, and how you can use them to grow your business.
Sales Leads: What Exactly Are They?
First and foremost, what exactly are sales leads? To put it simply, a sales lead is an individual or company that is a potential customer for your company.
Leads are one of the earliest stages in the customer retention process. This process, roughly, is followed like so:
Stranger – Visitor – Lead – Customer – Promoter.
As you can see, leads occupy a unique and important position in this model. Leads are people who know you exist, who you communicate with, and who you are working to turn into a paying customer.
Back in the day, you’d generate sales leads by attending networking shows and conferences within your sector. While this is still a valid method, technology has allowed for even more ways of generating sales leads for your business, just like it has transformed advertising.
Before we go into those, we’re going to briefly tell you why this is important.
Why Are Sales Leads Important?
Leads are important because they’re one of the most reliable ways to generate customers for your business. They serve as a way of linking like-minded people with your business and allowing them to interact with your brand.
They are a better method than just cold-calling. This is because the customer is choosing themselves to be contacted by your business (with a little push on your end).
This makes a customer feel that they are in control of the process and aren’t receiving unsolicited adverts from a business.
Leads aren’t just vital for converting customers, they’re also an excellent way of generating data for your company. This data can then be used to make real business changes and to recognize and solve potential problems.
But though all leads are important, there are different kinds of leads to bear in mind.
Understanding Different Leads
To properly use sales leads to grow your business, you need to know which leads to focus on generating. There are typically four main recognizable leads, as follows:
Information Qualified Lead
An IQL is someone who becomes a lead to learn more about your company. To incentivize these leads you can offer information-based rewards like a catalog, a discount, or a free sample. This is known as a cold lead and, though still important, is the lowest lead option.
Marketing Qualified Lead
An MQL has seen your marketing and is prepared to engage with your business; they just aren’t quite ready to become a paying customer yet. These leads will often fill out forms on landing pages for continued information and advertising from your company.
A good way to turn these leads into customers is by using a problem-solving contact form, where your employee can contact them to let them know how your business can help.
Sales Qualified Lead and Product Qualified Lead
SQLs and PQLs are leads that have shown the most interest in your business. The main difference is that PQLs have shown interest in a specific product through a free trial or base version of your software.
A good example of an SQL is someone who has used a contact form on your website to ask a specific question.
Understanding the differences between these leads is vital to maximizing their impact on your business. You will need to use a combination of all of them to operate successful lead generation in your company.
Lead Generation Strategies
Now you know all the basics of lead generation, it’s time to learn some strategies to use in implementing your sales leads.
Today, many sales leads are generated through technology. Some popular approaches include emails, social media posts, and blog posts that are then funneled to a landing page. Mobile strategies are also a very popular lead generation tool.
You need to create a designated landing page with a well-made Call to Action (CTA) that will encourage people to become leads. People won’t usually do this for the fun of it – there often needs to be an incentive.
Think about things you could offer that could incentivize leads, as this will differ depending on your business. Some reliable options include discount codes or free trials on specific products.
Or, it could include further information on a product or the promise of continued communication with an experienced employee. Think about which kind of lead you’re looking to generate, and create an incentive accordingly.
Another popular option for businesses these days is to buy leads. This is a much quicker process for businesses that have a large marketing budget that isn’t yet being put to good use.
Buying leads can be a cost-effective way to get started on your lead generation. This is because it allows your company to obtain a large number of leads right off the bat.
You can then dedicate time to transforming these leads into customers.
Where Can I Get Help With Lead Generation?
If you need further assistance with your sales leads generation, you’re already in the right place.
As part of our comprehensive data plans, we offer real-time lead deliveries that can funnel leads directly to your company. This can be done on a weekly schedule to ensure you are always receiving new contacts that can turn into customers.
If you’re interested in finding out more about how Sales Data Pro can help you, make sure to contact us directly. That way, one of our experienced team members will be on hand to assist you.