It creates a bigger wave when you say, “we generated 10,000 leads last week” rather than, “We got 100 leads last week”. But does this really make sense?!
On paper it might sound great, but out of these 10,000 leads how many got converted? Is it what you are thinking, the more the leads the more the conversions?
However, this is not always true. Out of this huge mass only tiny percentage of leads gets converted to customers. If we look for stats, 70% of the marketers demand for quality leads over quantity leads.So, to focus upon leads primarily you need to understand quality leads.
What Exactly is Quality Leads?
To answer this question crisply, the quality lead has:
- A clear intention to buy a product or service.
- An authority and cash to buy.
Simple, isn’t it? But as per your organization’s goal, you need to define “what is clear intention?” every other person visiting the website or landing page may not have an intent to lock the deal with you. So, unless he clicks “send” you cannot consider him as a quality lead. As you can get the picture that, not many leads carry the potential to become your customer. But thanks to the technology, that it can bifurcate the high-quality leads from the debris, which is extremely important for the business to grow.
Importance Of Lead Generation To Your Business
Source: Convince And Convert
We all know, lead generation is extremely important for your business to flourish. But a ‘quality lead generation’ is the most powerful one. You must have absolute and clear strategies to develop quality leads.
Without it a business cannot make sales and will certainly struggle to expand. If you know the targeted people and proper data you will be able to get the clearer picture of your leads and will be able to generate quality.
Many businesses are dependent on the lead generation companies or the powerful lead generation strategies. This attracts more and more prospects and ensures your products and services are standing out from the other competitors and yes, increases the chances of conversions.
Lead generation process collaborates the sales and marketing team, when both the department works together, they do wonders. You can get the more qualified leads, which leads to more customers and yeah! the more Revenue.
How can you measure the Quality Lead?
As you know the simplest definition of ‘Quality Lead’ and comprehended that it is necessary or say the market demands for quality leads, next is, how will you know which lead is ‘quality’? So, Lead quality can be measured with the technique called ‘Lead Scoring’. This strategy ranks the prospects on the scale that shows the perceived value of the lead towards your company. This score symbolizes the priorities of the appropriate engagement for every individual lead.
To dig out the quality lead, user data plays an extremely vital role. One technique for gathering information is by inspecting a visitor’s behavior on your site or any online platforms. Some of them includes:
- The types of pages visited
- Time spent on the webpage
- Source – from where they found the webpage
And many more are there. The more the data the clearer the customer’s profile builds. This helps you to analyze the perspective of the prospect and this way you can get the more personalized engagement and move closer to your goal of ‘conversion’
Lead Quality And Return On Investment (ROI)
Return on investment (ROI)is one of the chief gauges for measuring the success of any lead generation efforts. For clear reasons, the higher the ROI, the better that specific company is. Organizations can take a step to optimize and upgrading measures, making them more effective to improve the ROI of a particular movement.
Whenever you center around lead quality the odds of changing over a lead into a genuine deal essentially increases, implying that the assets spent on getting that lead pays off when they become clients. Zeroing in on lead quality likewise improves every client’s lifetime esteem by sustaining connections and upgrading dependability with current customers. This, thus, improves ROI over for a great period.
Focusing on lead quality means moving resource expenditure to target chosen leads. This implies the volume of leads is probably going to be influenced. However, while lead basket may be smaller, it additionally implies that leads are significantly more focused on and exceptionally defined. So you may not be getting the same number of leads all in all, yet you’ll be spending your resources more productively and getting all the more value for your money.
Quality leads is what most of the B2B marketers are seeking upon. As this gives sure shot intent of the prospect to buy the product or services. This way you tend to concentrate all your resources in the effective manner which will surely yield conversions.
However, going after quantity is also not a bad thing, but you must be able to separate the valuable prospects from the junk before you handover the leads lists to your client. If you fail to do so, then you might have to undergo negative feedbacks.
Vikas Bhatt is a demand generation, content syndication and a data cleansing ninja. He is the co-founder of OnlyB2B, a global organization that helps brands and businesses gain maximum leads and skyrocket revenue. You can get in touch with him on email@example.com