In the era of technology 4.0, with the support of digital tools, it brings a lot of sales opportunities, but it is also a big obstacle and challenge for disturbing information, it is necessary to filter to get a good deal. The customer file has the highest conversion rate to revenue.
It is also known as Lead, so what is Lead in marketing? What is a Qualified lead? What is the difference between lead types? How should businesses select leads? Let’s learn about Lead here with us!
1. What is Lead?
What is Lead? Lead is a term in the marketing industry, used to refer to an individual or an organization that shows an interest in buying your business’s product.
The concept of Lead
In short, a lead is a potential customer who has a need (or interest) in what you’re selling. In most cases, this audience will voluntarily provide their information to.
2. Why are leads important to your business?
By bookmarking and storing potential buyers, you’ll know exactly what stage of your sales process these customers are at. From there, you can plan to accelerate the customer’s purchase process.
Why is Lead important?
The goal of organizing sales is to make leads become their customers, generating revenue for the business.
3. Important Types of Marketing Leads
Understanding what a Lead is , you will know each type of Lead will appear at different stages. Here are the important categories you need to know:
Types of Leads in Marketing
3.1 Marketing – qualified leads (MQLs)
Marketing – qualified leads are customers who are likely to buy products, identified through business information collected from each Marketing advertising channel.
Businesses create demand for each customer and add them to the list of qualified leads by reviewing and analyzing their information and interest in the product.
This performance is reflected in the fact that customers register to attend online events, download messages, receive emails…
3.2 Sales – qualified leads (SQLs)
Sales – qualified leads are customers who are willing and able to purchase researched through MQL sales or marketing.
Once the MQL is completed, the sales or business development department will take on the role of tracking and ensuring that qualified sales go straight to the purchasing process.
3.3 Qualified leads
Qualified leads are the customers with the highest probability of purchasing a business. To identify this type of Leads, businesses need to provide specific criteria for each target customer or the products you are selling.
You can use Framework BANT (Budget – budget, Authority – authority, Needs – need and Timing – time) to evaluate. Besides, you can also rely on each short call to determine.
4. How to recognize a quality Lead
Marketing people who do not have much experience will find it difficult to evaluate a quality Lead. However, once you understand what Lead is , you will be able to determine it in the following simple ways:
4.1 Job application
The person submitting the job application proves that they are willing to provide a lot of personal information to apply for the desired position. These Leads will be suitable for the recruitment team of the business, not the Lead in Marketing or Sales.
If your business offers are attractive enough, it will attract more customers to provide the required information to receive them. Although the information obtained is not much, it is still enough data to measure who is interested in your services and products.
Through content, you can know which target customers are interested in the product. To understand what customers need, you can aggregate their information about: gender, age, location, behavior, consumer preferences…
From there, create a lot of relevant content that attracts their interest and converts into real customers.
5. Notes businesses need to know when measuring Lead
Lead is not a real customer, in the measurement process, businesses need to pay attention:
- It is advisable to divide the level to conduct measurement instead of just focusing on the lead-to-revenue ratio, especially for businesses with a long sales process.
- Dividing Lead into several levels will help limit many conflicts and conflicts between Sales and Marketing departments.
- Businesses should not collect Lead data by unorthodox forms. This only captures low-quality Leads and does not reach the MQL level.
This is all about Lead in Marketing that we want to share. Good luck!