Lead Definitions

Today we are going to delve into the heart of our sales pipeline and explore “Lead Definitions”. This is an essential part of our operations because it allows us to categorize and effectively manage the varying types of leads in our pipeline.

We have four different ways our leads can be defined. They are…

1. New Lead: The term ‘New Lead’ is used to describe a lead which has yet to be contacted. These leads are currently in our “First Response” Sequence. At this stage, our main objective is to initiate contact, introduce our products or services, and start the process of gathering information to help us qualify the lead.
2. Unqualified Lead: This term refers to a sales lead which has not yet met all of our five qualifying criteria. The ‘Unqualified Lead’ category can contain leads we’re actively following up with, new leads which we’re working to qualify, and leads which are placed in our long-term lead nurture system. Despite not fully qualifying, these leads are still actively managed by the sales department. The goal here is to continuously engage with these leads, in an effort to move them towards qualification.
3. Qualified Lead: A ‘Qualified Lead’ is a lead which meets all of our five qualifying criteria and is actively engaged in our sales process. This means they’ve shown a high level of interest in our offerings, and there’s a good chance they will convert into a customer. The focus at this stage is to nurture these leads, provide value, and guide them towards making a purchase.
4. Marketing Lead: Lastly, we have ‘Marketing Leads’. These are leads which aren’t actively engaged in the sales process for various reasons, but they are on our marketing database. The aim here is to keep these leads informed about our products, services, and any updates or offers. Even though they’re not currently in the sales process, our hope is that with consistent marketing, they might re-engage in the future and move further down the pipeline.

Understanding these definitions is key to managing our sales pipeline effectively. Each lead status requires a different approach, and knowing the difference between each can greatly improve our sales process and overall success. So remember, every lead, regardless of its status, is an opportunity waiting to be explored.