{"id":3603,"date":"2011-06-17T19:17:57","date_gmt":"2011-06-17T19:17:57","guid":{"rendered":"http:\/\/somametrics.com\/clone\/?p=396"},"modified":"2020-03-02T23:32:49","modified_gmt":"2020-03-02T23:32:49","slug":"lead-qualification-process-best-practices","status":"publish","type":"post","link":"https:\/\/somametrics.com\/clone\/lead-qualification-process-best-practices\/","title":{"rendered":"Lead Qualification Process \u2013 Best Practices"},"content":{"rendered":"<p>If you are planning to build a Teleprospecting organization, to qualify leads, there are a few items that need to be in place, before you get started.\u00a0 First, make sure that you have a flexible and easy to customize CRM that will support the daily activities of your Telemarketing team.\u00a0 The CRM should allow the easy build of management reports and dashboards, so that you can manage your team by the key metrics that ensure success.<\/p>\n<p>Next, work with Marketing and Sales to design an effective lead qualification process.\u00a0 At a minimum, an effective Lead Qualification Process should include the following:<\/p>\n<ul>\n<li>Qualification questions or the key questions that are used to qualify prospects<\/li>\n<li>The disposition of each lead, as the qualification process progresses<\/li>\n<li>Lead touch rules that monitor the number of times a lead is touched before it<br \/>\nis abandoned or sent back to a \u201cnurture\u201d program<\/li>\n<li>Next step details that outline what needs to happen to fully qualify the lead<br \/>\nto make it \u201csales\u201d ready<\/li>\n<li>A quality control process that enables sales management to review the<br \/>\nquality of each lead to ensure that they are quality leads<\/li>\n<\/ul>\n<h3>Qualification Questions<\/h3>\n<p>The lead qualification process starts with the questions that the Teleprospectors will need to ask to uncover need and interest in your solution.\u00a0 The right questions will uncover:<\/p>\n<ul>\n<li><strong>Need:<\/strong> Does the prospect have a need for your<br \/>\nproduct or solution?<\/li>\n<li><strong>Authority: <\/strong> Is this particular prospect the person<br \/>\nwho can make a purchase decision?<\/li>\n<li><strong>Decision Maker:<\/strong> What is the name and title of the person<br \/>\nwho can make the purchase decision?<\/li>\n<li><strong>Budget:<\/strong> Does this prospect have money to make a<br \/>\npurchase or CAN they secure the funds to make a purchase?<\/li>\n<li><strong>Timeframe:<\/strong> When is the prospect planning to solve<br \/>\ntheir problem and purchase a solution or product like yours?<\/li>\n<li><strong>Decision Process:<\/strong> How will the decision be made?\u00a0 Will there be an evaluation committee or<br \/>\nwill some other process be used to make a decision?<\/li>\n<li><strong>Understanding of Solution:<\/strong> Does the prospect understand the problem\/issue your solution or product<br \/>\nresolves?<\/li>\n<li><strong>Next Step:<\/strong> If the prospect is interested in your solution, what is the next step to move the lead from an MQL to an SQL?<\/li>\n<\/ul>\n<p>Determine the minimum number of completed questions you require to meet the\u00a0expectations of your Sales team.\u00a0 It is highly unlikely that your team will get all of the key qualification questions answered every time.\u00a0 Decide on the minimum amount of information you<br \/>\nneed to give a lead a \u201cB\u201d rating.\u00a0 If a lead has fewer than the minimum, the lead is still a work in progress and should stay in the Teleprospectors pipeline until the minimum standards have been met.<\/p>\n<h3>Lead Disposition<\/h3>\n<p>The Lead Disposition is the label you assign to leads as they go through the qualification process. The dispositions help Sales<br \/>\nManagement to quickly identify the progress of each lead, if a Teleprospector is having trouble qualifying leads and to zero in on leads that are ready to go to Sales.\u00a0 Here are a few of our favorite\u00a0Lead Dispositions:<\/p>\n<ul>\n<li><strong>Untouched<\/strong>:\u00a0 This disposition tells the Teleprospector that this is an MQL that has never been contacted.\u00a0 This disposition helps Managers to see if the team has enough new MQL\u2019s to contact.\u00a0 It can also help a Manager determine if MQL\u2019s<br \/>\nare being called in a timely manner.<\/li>\n<li><strong>Pursuing<\/strong>:\u00a0 When an MQL is in the pursuing disposition, it means that the MQL has been called, however, no contact<br \/>\nhas been made with this prospect.<\/li>\n<li><strong>Contacted:<\/strong> Once a call has occurred and contact has<br \/>\nbeen made with the prospect, MQL\u2019s can be moved to the disposition \u201ccontacted\u201d.<\/li>\n<li><strong>Key Conversation:<\/strong> Not all connects are created equal.\u00a0 If important information or Key<br \/>\ninformation was gathered during a connected call, this should be listed in the disposition.\u00a0 Managers should report on this important disposition, during their meeting with Sales.\u00a0 Key conversations are the conversations that move the sales process forward.\u00a0 If Teleprospectors aren\u2019t having a number of Key conversations, each week, there may be something wrong.\u00a0 This disposition enables the Manager to identify problems with the MQL\u2019s, target list or Teleprospecting skills.<\/li>\n<li><strong>Potential SQL:<\/strong> A potential SQL is a lead that has a definite interest and need.\u00a0 The Teleprospector<br \/>\nmay need to gather more information to turn this lead into an SQL; however, this is a hot target.\u00a0 Over<br \/>\ntime, Potential SQL\u2019s build, creating the Teleprospecting pipeline.\u00a0 Managers keep track of these leads<br \/>\nbecause these leads are likely to become SQL&#8217;s fairly soon.<\/li>\n<li><strong>SQL:<\/strong> SQL\u2019s are ready for the Sales organization.\u00a0 They have the information required to make a highly qualified lead.<br \/>\nThey are the leads that will go into the Sales Funnel.<\/li>\n<li><strong>Bad Data:<\/strong> You can try your best to get leads with the most accurate information.\u00a0 Sometimes, prospects leave their positions and move to another company.\u00a0 Sometimes prospects give false information on registration pages.\u00a0 Sometimes the data is incorrect and you may not know why.\u00a0 It doesn\u2019t matter.\u00a0 If the data is bad, the Teleprospector won\u2019t be able to reach the prospect.\u00a0 Take the lead out of the leads area of the CRM and have someone work on the lead to get better data.<\/li>\n<li><strong>Unable to Reach:<\/strong> If the Teleprospector has reached the limit on the touch rules and has had no response from the prospect then<br \/>\nthe lead disposition becomes \u201cunable to reach\u201d.\u00a0 Your CRM administrator should take these leads out of the leads area and put the lead into a nurture program.<\/li>\n<\/ul>\n<p>These dispositions will help your Teleprospectors to effectively manage their call activity and enable the Manager to track lead<br \/>\nprogress and identify issues quickly.\u00a0 These dispositions will enable Marketing to get a pulse on the success of their campaigns and the quality of the MQL\u2019s that they are creating for the Teleprospecting team.<\/p>\n<h3>Touch Rules<\/h3>\n<p>Part of the lead qualification process is determining the number of times a lead will be touched before it is abandoned or put into a<br \/>\nlead-nurture program.\u00a0 You don\u2019t want your prospects to feel as if they are being \u201cstalked\u201d by your Teleprospecting<br \/>\nteam.\u00a0 Keep the rules simple, which will enable compliance.\u00a0 Here are my touch rules:<\/p>\n<ul>\n<li><strong>First call:\u00a0 Touch #1<\/strong>. Leave a voicemail and send an email.\u00a0 Wait 2-3 days before you make another call attempt.<\/li>\n<li><strong>Second Call: Touch #2<\/strong>.\u00a0 Move on.\u00a0 Wait 2-3 days before your next call.<\/li>\n<li><strong>Third Call:\u00a0 Touch #3<\/strong>.\u00a0 Send an email.\u00a0 Wait a week before you make another call.<\/li>\n<li><strong>Fourth Call:\u00a0 Touch #4<\/strong>.\u00a0 Leave a voicemail. Wait a week before you make another call.<\/li>\n<li><strong>Fifth Call:\u00a0 Touch #5<\/strong>.\u00a0\u00a0\u00a0 Move on.<\/li>\n<li><strong>Email:\u00a0Touch #6.<\/strong> Send an email stating that if the prospect has a need that they should call the Teleprospector<br \/>\nback, at their convenience.<\/li>\n<li><strong>After Touch #6<\/strong>:\u00a0 Change the disposition to \u201cUnable to Reach\u201d and put prospect into a nurture program.<\/li>\n<\/ul>\n<p>Your business may require different touch rules.\u00a0 What we have found, working with over 100 Software companies, is that if a prospect doesn\u2019t return calls or reply by email after 6 touches, they usually aren\u2019t interested.\u00a0 They may have interest, in the future and may respond at some point in the nurture process.<\/p>\n<h3>Next Step Details<\/h3>\n<p>In our experience, a Teleprospector will touch a prospect 3 to 4 times before they get all of the information they will need to turn an MQL<br \/>\ninto a viable\u00a0SQL.\u00a0 After each good connection with a prospect, information is acquired and the Next Step details should be updated.\u00a0 The Next Step field details the requirements to move the sales process forward.\u00a0 For example, a next step might be to provide the prospect a private web demo.\u00a0 The Next Step is not just a callback.\u00a0 It is an action that moves the sales process forward.<\/p>\n<h3>QA SQL\u2019s<\/h3>\n<p>Once a lead is qualified, fully, the disposition becomes \u201cSQL\u201d.\u00a0 Before the SQL is passed to Sales, the Manager should review and approve the SQL, to ensure that the SQL meets the minimum qualification criteria.\u00a0 CRM\u2019s, such as Salesforce.com, provide workflows that can trigger an action, such as when a Potential SQL moves to an SQL.\u00a0 We have set up workflows for our clients that trigger an email to the Manager, who takes the action of reviewing the lead before it is converted to an opportunity for Sales.\u00a0\u00a0\u00a0 Once Sales has reviewed and contacted the lead, Sales should \u201cApprove\u201d or \u201cReject\u201d the lead, before it is converted to an opportunity.\u00a0 The QA process enables the Manager to keep close tabs on quality and provides the team instant feedback, as Sales reviews and processes leads.\u00a0 If more than, say 10% of the SQL\u2019s are rejected by Sales, there may be a problem.\u00a0 This process ensures quality leads and instant feedback for the Teleprospecting team.<\/p>\n<h2>Define the Qualification Process Before You Hire<\/h2>\n<p>You will save a lot of time and frustration if you develop the Teleprospecting infrastructure, before you hire your first Teleprospectors.\u00a0 Make sure that you:<\/p>\n<ul>\n<li>Select a CRM that effectively supports a Telemarketing<br \/>\nteam<\/li>\n<li>Design a leads process that has buy-in from both<br \/>\nSales and Marketing<\/li>\n<li>Map your leads process into your CRM to track<br \/>\nthe status of each lead<\/li>\n<li>Build a QA and Lead Hand-Off process into the<br \/>\nCRM to ensure lead quality<\/li>\n<\/ul>\n<p>Take the time to define the lead qualification process to\u00a0ensure success from the start.\u00a0 It will be well worth your time.<\/p>\n<p><strong>About SOMAmetrics<\/strong><\/p>\n<p>SOMAmetrics enables clients to revitalize their Sales and<br \/>\nMarketing organizations, so that they meet and exceed their revenue objectives<br \/>\neach and every quarter.<\/p>\n<p>Email: <a href=\"mailto:reach@SOMAmetrics.com\">reach@SOMAmetrics.com<\/a><\/p>\n<p>Phone: 800.352.9694<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you are planning to build a Teleprospecting organization, to qualify leads, there are a few items that need to be in place, before you get started.\u00a0 First, make sure that you have a flexible and easy to customize CRM that will support the daily activities of your Telemarketing team.\u00a0 The CRM should allow the &#8230; <a title=\"Lead Qualification Process \u2013 Best Practices\" class=\"read-more\" href=\"https:\/\/somametrics.com\/clone\/lead-qualification-process-best-practices\/\">Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":3905,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"generate_page_header":""},"categories":[37,35],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.7 - 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