Even with the help of the latest advancements in marketing automation technology, lead generation can still seem fruitless if your leads aren’t actually converting. An important step before chasing down a lead is to effectively differentiate between qualified leads vs. unqualified leads.
Understanding Qualified Leads vs. Unqualified Leads
A qualified lead is a prospect with a problem that can be solved by the solution you’re offering. The qualified prospect has control over their budget and the authority to make a decision. Qualified leads tend to have lower churn rates as customers because they are in control of the closing terms.
An unqualified lead may have a need or problem that is poorly defined or cannot be properly addressed using your solution. Unqualified prospects are typically not in control of their budget, nor do they have the authority to make purchasing decisions.
Can You Turn an Unqualified Lead Into a Qualified Lead?
Yes, it is possible! If you’re looking for a lead generation strategy to convert unqualified leads, first ensure that you have content that nurtures leads through every step of the buying process. Sometimes turning an unqualified lead into a qualified lead is as simple as helping them to identify their problem.
Remember that not every unqualified lead is going to become a qualified lead or convert. If an unqualified lead is not in control of the closing terms, they will probably not become a qualified lead. It is always more viable to follow quality leads than to spend time creating content in pursuit of leads that may never actually convert.
How to Find Qualified Leads
Each of your current and previous customers was a qualified lead before they converted. Try reaching out to past clients to see if they would be interested in purchasing from your company again or if they know others who might.
If you’re trying to reach new qualified prospects, before even approaching your lead lists, align your marketing and sales teams with regards to your target audience. The message that the marketing team sends out about your product or service should directly align with the solution you offer. Optimize content across lead generation tools so that leads are fully aware of and interested in the solution you offer.
Another way to align sales and marketing is to create buyer personas. Based on past customer data and independent research, teams can create a profile for their ideal customer. Both teams should reference the buyer persona when they update lead generation tools, like website and social media pages.
Wrapping Up Qualified Leads vs. Unqualified Leads
While lead generation has gotten easier with the variety of tools available to sales and marketing teams, converting qualified leads vs. unqualified leads is still not a perfect science. Defining a buyer persona and aligning your marketing and sales teams are the first steps to smoothing out the lead generation process. From there, both teams can work together to chase qualified leads.