Lead Qualification: How to Close More Deals?

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Reddi1
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Joined: Thu Dec 26, 2024 3:13 am

Lead Qualification: How to Close More Deals?

Post by Reddi1 »

According to a study by the marketing agency TOPO, in 2014 only 27% of companies actively used the BANT formula (Budget, Authority, Need, Timeframe) to qualify leads interested in purchasing a product or service.

This fact reflects a significant shift in how companies think about what parameters and characteristics are needed to identify a lead as a ready buyer. While the BANT formula is successfully implemented in only a quarter of poland phone number data all companies, most firms prefer to work according to a scheme known as ANUM (Authority, Need, Urgency, Money) or simply AM (Authority, Money).

Lead Qualification

Percentage of companies using a particular lead qualification formula

The lead scoring process is a necessary stage in the lead nurturing process , during which all applications are ranked by a number of indicators that assess their level of interest and readiness to close a deal. The higher the level and interest, the faster the marketer working with the potential buyer will transfer him to the sales department. Such leads are called “sales qualified leads, SQLs” by specialists.

If the lead does not show sufficient interest in the product, the marketer leaves it for further development. They are qualified as "marketing qualified leads" (MQLs). This practice is largely useful and necessary, as it allows the sales department to focus its efforts only on those leads that are more likely to convert into real buyers and bring income to the company.

However, the question remains open: by what criteria and indicators should we evaluate a potential buyer, how should we measure his interest and willingness to cooperate?
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