You’re reading this blog because you’re interested in learning how to qualify your leads effectively.
You are at the right place!
Not everyone who followed your page, liked your post, and responded to your lead magnet will necessarily make a purchase from you.
Some individuals might be just curious or caught up in the excitement.
That’s why qualifying leads is an essential part of the sales process.
You can systematically track your potential customer’s journey through the sales funnel and sales pipeline.
If you haven’t read our previous blogs, you can do so in your leisure time.
This blog will show you how to improve your lead qualification process, saving time and increasing your conversion rate.
What is the lead qualification?
Lead qualification, also known as sales qualification or lead scoring, is an important step in the sales pipeline.
It helps you figure out if your leads are a good fit for your products and services.
During lead qualification, you assess various factors, such as demographics and engagement, to identify the most promising prospects for conversion.
To do this, businesses use pre-defined criteria to see if a lead matches their ideal customer profile.
They carefully analyse lead engagement to gauge the level of interest.
For leads that may not be ready for direct sales engagement, you can plan to nurture campaigns to cultivate their interest over time.
Why is the lead qualification important?
In many cases, lead qualification results are used to plan marketing strategies effectively.
Moreover, lead qualification plays a vital role in crafting your customer retention campaign.
You might have come across this information in our other blogs.
Customer retention is just as important as acquiring new customers.
In this blog, we will focus on the consequences of not qualifying your leads.
If you fail to identify and prioritise high-quality leads, you may miss out on potential customers.
Certainly, that’s something you want to avoid!
Without lead qualification, your marketing efforts may lack proper targeting.
This can lead to irrelevant campaigns reaching the wrong audience.
However, some entrepreneurs might find disqualifying leads risky.
Let me remind you to consider this.
Most of the unqualified leads are customers who are not even aware of their problem.
Thus, there’s a high chance that these people won’t see the value of your service.
Remember, engaging with unqualified leads who aren’t a good fit for your product or service is a waste of time.
What framework should you use to qualify your leads?
Each business has its own specific goals and objectives.
That’s why marketing experts need to create various stages and frameworks for marketing campaigns.
Lead qualification is an integral part of the marketing and sales process.
Now, let’s explore the different frameworks for qualifying leads and understand how to incorporate them into your business process.
The BANT framework
In sales and marketing, the BANT system is widely utilized for lead qualification.
BANT stands for Budget, Authority, Need, and Timeline.
Its purpose is to evaluate a lead’s potential and decide if it’s worth pursuing as a sales opportunity.
- Budget
Do you have a budget set aside for this project, and if yes, what is the approximate budget range you are considering?
- Authority
Who in your organization has the final say in purchasing products/services?
- Need
What specific pain points are you currently facing that you believe our services could address?”
- Timeline
When do you plan to implement a solution, and what is your expected timeline?
The GPCTBA/C&I Framework
The lead qualification framework stands for Goals, Plans, Challenges, Timeline, Budget, Authority, and Negative Consequences and Positive Implications.
It is a more comprehensive and evolved version of the traditional BANT framework.
- Goals
What are the main goals and objectives you are aiming to achieve within your organisation?”
- Plans
Can you tell me about the specific actions or plans you have to reach your goals?
- Challenges
What are the key challenges or pain points you are currently experiencing in your operations?
- Timeline
When do you expect to decide on implementing a solution for your challenges?
- Budget
Do you have a budget set aside for addressing the challenges and goals we’ve talked about?
- Authority
“Who are the key decision-makers involved in evaluating and selecting a product or services?”
- Negative Consequences & Positive Implications
What do you foresee as the potential negative consequences if your organisation does not address these challenges promptly?
The CHAMP framework
It is another lead qualification system used in sales and stands for Challenges, Authority, Money, and Prioritization.
It focuses on understanding the lead’s specific challenges and pain points, the decision-making authority, the available budget, and the lead’s sense of urgency or prioritisation of the problem.
- Challenges
“What are the pain points your organisation is currently facing?”
- Authority
Who within your organisation is responsible for addressing these challenges and making purchasing decisions?
- Money
What is the approximate budget range you are considering for investing in a solution like ours?
- Prioritization
On a scale of 1 to 10, how urgently do you need to address these issues?
The MEDDIC framework
It is a popular lead qualification system used in sales, especially in B2B (business-to-business) contexts.
It stands for Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify Pain, and Champion.
- Metrics
How do you track and evaluate the impact of your current efforts in addressing the challenges you’ve mentioned?
- Economic Buyer
Who holds the budget and financial authority within your organization for making purchasing decisions?”
- Decision Criteria
How do you evaluate and compare different solutions to ensure they align with your decision criteria?
- Decision Process
What are the steps involved, and who are the key stakeholders participating in this process?”
- Identify Pain
What are the specific consequences or negative impacts of not addressing these pain points?”
- Champion
Who would be the internal champion or supporter for driving the adoption of a new solution like ours?”
What is the best way to qualify leads?
With Easy Peasy Funnels, customising your marketing and sales process is simple.
You have the freedom to choose the marketing strategies that best suit your business.
Is it helpful for qualifying your leads?
Of course!
Marketers usually create a survey form to qualify leads.
At Easy Peasy Funnels, creating and integrating a survey form into your landing page is super easy.
And guess what?
You can even automate it as part of your workflow.
Easy Peasy Funnels comes with a CRM feature, allowing you to personalize your potential customer’s journey.
Select the lead qualification framework you find valuable and create your survey form with the qualifying questions.
Thanks to Easy Peasy Funnels’ CRM feature, you can decide which step to redirect your potential customers to.
