What Constitutes a Valuable Sales Lead?

An important job for anyone in a sales management position is to define what “valuable” means with regard to leads. Not all leads are the same. Some leads will be very valuable. But other leads will have little value. Therefore, it is safe to say that defining what constitutes a valuable lead is an important job for sales management. Why waste precious time working on leads with little promise? Perhaps leads can be obtained that will support efficient selling efforts and hasten attainment of revenue objectives. If there is a possibility of obtaining valuable leads, then sales management ought to allocate as much time as may be required to formulate a system to capture valuable leads. Further, sales staff should always work on as high value leads as possible.

We should note that sales management engaged in defining value for leads very often will have an opportunity to also define the stages of development for leads that will be typical for the specific business at hand. We spend considerable time working with leads for clients over telephone conversations. Therefore, what follows is specific to telemarketing and, further, very specific to teleprospecting. However, in a subsequent post we will present complementary stages that contribute to lead maturation from raw to high value for electronic media — social and email marketing. The stages for lead maturation from the perspective of teleprospecting include:

  1. Identifying Potentially Useful Contacts within a Prospect Business
  2. Engaging in an Initial Conversation with a Potentially Useful Contact. This first conversation is characterized by the teleprospector gathering information to identify what the prospect needs as well as contacts within the prospect that have the authority to purchase products and services to satisfy needs
  3. Engaging in a Conversation with a Potentially Useful Contact that Expands on the Original Conversation. The teleprospector plans this second conversation to provide the contact with information that can be useful to identify needs and decision makers
  4. Engaging in an Initial Assessment with the contact. A teleprospectors utilizes this third conversation to exchange information with the contact on the needs and decision makers that have emerged from the first and second conversations
  5. Mapping into the Prospect Company. The teleprospector enters into as many additional conversations with other contacts as may be required to identify all of the other contacts from this prospect who need to be included in any subsequent conversation about the needs and decision makers who have been determined from the first three preceding conversations
  6. Vetting Assumptions about Needs and Decision Makers. These conversations provide the teleprospector with the opportunity to establish the credibility of apparent needs and decision makers.
  7. Obtaining Referrals. Authoritative contacts are used by the teleprospector to secure the participation of all of the contacts produced by the mapping exercise in step 5, above in subsequent conversations with the prospect business
  8. An Unqualified Meeting with Unqualified Decision Makers. The teleprospector engages in a group meeting with the contacts who have been identified. The meeting topic is specific to the need assumed to be pressing for the prospect business. The outcome of this meeting will determine any further steps in the development of the sales opportunity

If we find that the sales opportunity has further promise beyond #8, above, we are comfortable turning the lead over to clients for further development as a valuable lead. If you care to learn further about our methods, then please call Ira Michael Blonder at +1 631-673-2929 to further a discussion. We welcome contact. You may also email Mike at imblonder@imbenterprises.com.

© IMB Enterprises, Inc. & Ira Michael Blonder, 2012 All Rights Reserved

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