To generate more revenue for your business, you must be able to deliver leads to your sales team consistently. You must initially vet leads before handing them off to your salespeople, who’ll then narrow them down even more. But it’s important to remember this: not all leads are equal.
Qualifying leads saves you time, money, and resources. Instead of putting your efforts into someone who may not actually be interested in your product — or may not even fit the profile of your company’s ideal customer — focus on those who are. Disqualify leads whenever you can. Do yourself a favor by not wasting your manpower on leads you’ll never be able to convert into prospects. Simply, identify the companies you’ll be able to add value to, and then go after them.
After leads have been qualified, they can typically be broken down into three types: cold, warm, and hot.
If you’re unsure of how to categorize the leads on your list, read on.
What if a lead hasn’t shown interest?
Not all leads are going to be interested in purchasing your services — at least not at first. In fact, many of your leads probably aren’t even aware of what you’re selling or how you can add value to their organizations. They may not know what an MSP is or why properly backing up data is an essential component of any cybersecurity strategy. Some of these leads you’ll be able to disqualify fairly quickly, while others will linger a bit until they’ve been properly vetted by sales and marketing.
Cold leads aren’t necessarily bad. They just need to be massaged a bit more than other types of leads. Some cold leads eventually work their way down the MSP sales funnel. Do your best to establish contact with your cold leads in whatever way you can. Do you have any connections in common with them? Be resourceful by reviewing social media accounts before contacting cold leads. The data’s out there. You just need to be willing to do your research ahead of time. Your goal should be to warm up your cold leads whenever possible. The warmer your leads are, the more likely they’ll buy.
Think your leads are warm?
If leads are interested in what you’re selling but aren’t ready to purchase just yet, classify them as warm. These leads have typically engaged with you at some point. For example, maybe they downloaded a white paper from your website or requested more information about your service offering. Unlike cold leads, warm leads at some point gave your salespeople permission to contact them.
You can also categorize referrals as warm leads. Why? Your salespeople can easily work with referrals. Usually, the person on the other end of the line knows why you’re calling. Because of this, the conversation’s less awkward. There’s a mutual understanding of why the conversation is taking place, and your salesperson typically doesn’t have to educate the lead as much. Eventually, your salesperson will need to answer the following question: can I convert this warm lead to a hot one?
Further reading MSP Referrals: How to Get Managed Services Client Referrals
When are leads hot?
Among other things, hot leads are ready to buy. They’re highly interested in purchasing your services and have the budget and authority to do so. These buyers also fit your company’s definition of the ideal customer profile. When a lead is hot, your salesperson should follow up as soon as possible to try to make the sale. Never sit on a hot lead. Have your salesperson act immediately.
Every business has to generate leads in order to ensure that its revenues continue to grow, but even after leads hit your salespeople’s desks, there’s more work to be done. For your salespeople to sell successfully, your leads must be vetted, and after that, it’s up to your salespeople to sell.
Read our guide for tips on:
- Prospect research
- Discovery call
- Main parts of a sales pitch
- Creating a sales deck (a structure example is included)
