Your business is up and running, and you already have an amazing website that's generating some amazing market research leads. But what kind of leads are these? Marketing or sales?
You need to understand the difference between marketing leads and sales qualified leads. In doing this, you can then take full advantage of your marketing funnel.
So, let's get to it. Here's a quick overview of your marketing funnel --marketing leads and sales qualified leads.
These types of leads take place when a customer visits your website or your actual store. It's through these two routes that you'll be able to capture information about the consumer, thus using the collected data to appeal to his or her exact wants and needs. If you handle your marketing leads in the right way, you'll be very likely to turn this consumer into not only a customer but one that keeps coming back.
To capture information, you'll want to ask for the consumer's name, email address, and the reason that the person is browsing your products and services. Even though this information will be passed down to your sales team, the lead itself is considered a marketing lead because the sales team has not yet come in contact with the consumer.
It's imperative that you carefully analyze the information gathered through marketing leads. By doing this, you can come to a conclusion as to whether or not a specific consumer actually fits your buying demographic. If he or she does not, then you can avoid wasting both time and money on trying to get the consumer to buy something from you when in all actuality he or she is most likely not to.
At the top of the funnel, you will find marketing leads. If these leads make it to the bottom of the funnel, then this means that your sales team believes a consumer is ready to make a purchase.
Sales qualified leads only to take place once a member of the sales team has made contact with the prospective customer. From emails to telephone calls, there are many ways to graduate marketing lead to a sales qualified lead. It's most important, though, to remember to carefully assess marketing leads to make sure that they will be profitable in terms of funneling them down to become a sales lead.
No matter the type of leads that you have in your marketing funnel, you must assess their quality. In fact, having one hundred marketing leads that are of low-quality will likely lead to only one to two percent of them converting into sales leads; this means only about one to two them will turn into a transaction.
On the other hand, if you have 20 high-quality marketing leads, you can bet on 50 percent or more of them making their way to the bottom of your marketing funnel and leading to a transaction; that's 10 or more sales off of just 20 leads.
The main point is, higher-quality leads are of the utmost importance, so do your best to fill your marketing funnel with leads that are of value.