Magnus Marketing Blog

So, how do you get those qualified leads? It is a simple and easy process. First, lets define what a qualified lead is:

A qualified lead is an ACTIONABLE opportunity. This means there is defined need or interest that can be further defined and paid for by the inquirer or respondent. Example: A retail cashier worker can dream of owning a Porsche and could want a Porsche, but cannot afford it. They may want to look at a new Porsche model and receive literature, but will never, ever buy one (unless they hit the lottery). An executive at Amazon however can own a Porsche or any other fast car s/he desires. This is a qualified lead, particularly if they inquire about the new model. Time is of no real value, sales cycles can be long and can be influenced. Authority also could be of no value, because if a product or service is of interest, a decision-maker can make the business case to re-allocate funds to obtain it. This is why BANT isn't necessary to qualify a lead - only the Budget and Need dimensions are critical to a purchase. How many times have you heard a parent say to a kid, look kid - when you get a job or save your allowance - then you can get that toy? This same principle applies. The kid wants/needs the toy and finds the money for it. A kid could save up over the summer to buy a particular video game or used car - time is fluid. Even though the kid has a parent, he is the primary buyer - authority is irrelevant. Same in companies.

The development of a qualified lead starts with a profile based on those two dimensions. Does the company have enough revenue overall to support a purchase? A million dollar firm is unlikely to buy a $100,000 software, unless it is critical to the operations (this is 1/10 total revenue), a $100,000 sole proprietor is not going to invest in a $50,000 services deal (1/2 revenue). Then, finding the "kid who is saving up" is important - who either makes the decision or can influence it.

That profile will drive your list. Most acquired lists are of tremendously poor quality and will need some internal cleansing. This is not a job for your salespeople, do not give it to them. This is for your marketing or administrative support to do - they are not to sell either, just ensure that the information matches the profile.

Once the list is solid, then you can market to it. Most assuredly the inquiries that come in will be ones that should be worth pursuing. The main question will be, is this product or service a fit with the real or potential needs of the company and what is the respective timeline, also competitive factors come into play. If a purchaser has looked at other solutions, then there is an active interest in acquisition. If not, they are either tire-kickers or "researching" without a solid need defined. Still worth contact with those folks, however, they should be deprioritized overall in favor of real actionable opportunity.

Things change rapidly in companies also. Today, a company may not be qualified or have a need, tomorrow - they could be. It is important to monitor the central list for changes. Also, peripherally or marginally profiled organizations should be kept around for that same reason, today - revenues do not prove out purchase power - tomorrow that could change.

Lead generation is a fairly complex process. Most folks think send out stuff, make a call, make a message, get a list - that's it. But there is OH, so much MORE and it takes time. Once a Lead is generated on the two dimensions, then the A,B,C designations can be assigned. Lead generation is a multiphase process.

This is why I advocate a marketing function, a lead generation function, a sales function - where inside sales or lead gen is a separate integrative division falling BETWEEN marketing and sales. Marketing is the creative and the initial contact, lead gen (which stands ALONE) focuses on developing and nuturing leads - it drives marketing to a degree (Lead gen should run marketing, not the other way around!), and sales closes business. It really is simple, if you think about it.