What Is Lead Qualification, And Why Would I Outsource it?
If you run a business, odds are you do some form of lead qualification. You might not call it exactly that, or even realise you’re doing it – but you wouldn’t be running a successful business if you weren’t. The thing is, lead qualification is one of those things that takes a lot of time, a little skill and a very thick skin to do well, which is why so many business owners avoid doing it directly. But it’s also a hugely beneficial practice, and can change your business from stagnant to growing very quickly. So today we wanted to talk a bit about lead qualification, and the benefits to outsourcing it.
What Is Lead Qualification?
Put simply, lead qualification is the process of working out if a prospect you are in touch with is genuinely going to buy from you, or whether they aren’t. Professional sales people will often spend half their time qualifying leads so that they know where to prioritise their time to get the best results. Anyone who has contacted, or been in contact with your sales and marketing team should be qualified as a genuine lead, and then moved further through the sales funnel. It’s an old and simple process that, if done right, can save you an awful lot of time chasing leads that are never going to convert, and instead focus your attention on genuine opportunities.
So Why Would I Outsource It?
The main reason? It’s time-consuming. While it’s a very useful process (and something every business should be doing), it does take up a lot of your time, which if you’re a small business owner is the most valuable thing you have. Outsourcing your lead qualification will save you a huge amount of time every day, and means you’ll only be spending time on leads that are likely to convert. It’s a win-win.
It’s also more cost-effective. Bigger businesses will hire in sales people whose job is to hunt down leads, qualify them and move them into the sales funnel. As a business owner, your business might not have reached that size yet, which means qualifying leads falls to you, or someone you have to hire for the job. Your time is much better spent doing other things, including managing the business and delivering work! Outsourcing means you can focus on working your pipeline opportunities and closing more business, without having to hire in another person for the job. It might cost you a bit of money up front, but it will save a lot of time and money in the long term.
Things To Consider
All that being said, there are a few things you should consider if you’re looking to outsourcing your lead qualification:
What Will The Relationship Look Like?
This is one of the main things you will need to nail down pretty early. Understanding what your part in the process is, is just as important as what your outsource company will be doing. So, make sure you find out the step-by-step process of working with an outsourced company, and find one you are comfortable with.
How Much Experience Do They Have?
Lead qualification isn’t quite as challenging as lead generation, but it does require some specialist skills. If you’re investing money into someone doing this for you, you’ll want to know that they have those skills, and have done lead qualification successfully in the past. Ask for examples of their experience, and if possible, talk to some of their previous customers.
Are They Outsourcing?
Given that you’re outsourcing to them, you might not think this is necessary to ask – but it is. Ask if you’ll have a dedicated rep working on your campaign, or if it will be split between multiple people, and if all of those people are employed by their company (not a call centre somewhere miles away). If it’s all internal, you’re likely to get a higher quality work.
We offer a unique process that’s tailored to your company, helping you separate hot prospects from general enquiries and making sure you’re talking to the right person in the business. If you’d like to find out more, just get in touch with the team at Verbatim today.