Four Qualities of a Qualified Lead
Characteristics to look for in a potential client. Moving from an unqualified lead to a qualified lead.
If you are in sales, you have to network. You meet lots of people with ideas of web sites, web applications and mobile apps they want to build. You’re used to meeting potential clients, but how do you determine a qualified lead? A qualified lead is someone who has the right budget, decision-making authority, need for the product or service, and readiness to make the purchase in a suitable amount of time. Look for these four attributes in a lead before moving forward with the relationship.
- Need for Product and Service
- Allow the lead to talk about their business and projects/goals. As they discuss the pain points within the business, you can gauge if your team is able to help them.
- Talk about your value proposition. Show the lead what you have to offer, and how your services fit their needs. Leave the lead with full confidence in your company, so that when they have work to do, they’ll think of you.
- Decision-Making Authority
- Find the right person in a company who can make decisions (this can be tricky, but is very important).
- Why is this important? We’ve had projects in which we’ve been contacted, scoped out a project, and then found out the contact had no authority to move the project forward.
- Right Budget
- Does your prospect have enough money to invest in the project? Be upfront and clear when asking about a client’s projected budget. This can be the quickest way to disqualify a prospect, saving both you and the unqualified lead time and energy.
- A client may have a brilliant idea. You may meet with them for an hour, discuss their inspiration, and find that they have a budget of less than $1000. They had a great idea, but their idea would cost $100,000. In a sense, they are going to a BMW dealership with the budget for a used Ford.
- Right Timeline
- Timeline is also a crucial factor in two areas: when will they make a decision and when do they expect delivery?
- If they do not expect to make a decision for six months, that changes your approach with the prospect as opposed to making a decision in the next few days.
- If they want a 500-hr web application delivered in two weeks, it is not possible to stage the project for success. Each company is different about what timeline they are comfortable working with. Know your comfortable project velocity, and don’t push your team past those boundaries.
When you are meeting potential clients on a daily basis, be sure they meet these four requirements before you determine they are a qualified lead. Having these standards will save you a lot of pain as you continue through the process of developing a proposal and setting up contracts. Find out more about how to walk through the proposal/contract process with clients through our latest eBook – How to Close More Deals.
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IT Hands has been providing quality, custom web development services for over a decade to web companies and ad agencies. We are an agile web development company taking advantage of a globally-dispersed team to deliver excellent results. Over 350 clients have been thrilled by the consultation, competency, increased capacity and cost effectiveness that IT Hands brings to every project.