Why Some Leads Will Cost You More
Vanessa

Vanessa

Why Some Leads Will Cost You More

In sales and business, leads are a vital aspect of your growth.

Some will cost you less.

While other leads will definitely cost you more.

But these won’t just cost you more financially.

They will cost you more from an effort + energy perspective too.

This is why it’s essential to know what type of lead you’re working.

3 Important Questions to Help You Qualify Leads

  1. Where is the lead in your Marketing Funnel?
  2. How far are they in the buying process?
  3. What do you want to do about it?
 

As solo advisors and small business owners, you cannot be wasting precious time, or mismanaging your resources.

You must know where your time is best used. And what activities get you the best ROI.

Using this highly beneficial illustration below. You can answer the above questions.

WhySomeLeadsCostMore

                                          Source: Marketing Insider Group

“Not all leads are sales-ready. They may be considered marketing qualified, but they’re not yet sales qualified. When marketing hands over leads…..it’s crucial that these leads are ready to purchase. So that the sales personnel don’t waste their time on leads that won’t convert.

When you understand the different stages your lead or prospect is in, you can treat them accordingly.

Stages Your Prospect Goes through:

  • Information Gathering
  • They know they have a problem
  • They know they have a problem + are studying solutions
  • Have solutions in mind + want help with it
  • Want solution + need to determine who will help

For instance, the author refers to people early in the info gathering stage as “Top of Funnel” leads.

They may be great candidates or they may not be.

But if we treat them the same as “BOFU” (sales-ready) leads, we will end up frustrated. Disappointed and depleted.

You’ll have wasted vital energy on people simply not ready to buy.

These leads are not worthless.

They just require to be nurtured.

To be put through an effective process.

leadsalesprocess

I’ve seen advisors throw in the towel on a lead source way too early, or think something is “wrong”. Because the lead didn’t convert into a client today.

This can be short sighted in their marketing strategy, and unfair to the lead.

Leads are people.

They have different needs and are in different places in their lives.

There is no one-size fits all strategy for lead management.

If you don’t have systems in place, outsource or automate.

But not understanding where your leads are in the buying process, can be one of the most costly mistakes you make.

It can also be why some leads will cost you more.

Share this post

Share on linkedin
Share on facebook
Share on twitter

Recent Posts

While no one really saw Covid-19 coming or how Social Distancing would impact their business, many had to adjust & adapt.

There are Hundreds of IMOs & FMOs out there. And 1000s of Marketers ready to sell your leads...

In Sales - Emotion Sells and Logic tells. Spending too much time on Features and Not Benefits, could cost you.

Buying Financial Leads can be Expensive. Find Out Why Some Leads Will Cost You More + How to Stop the 'Bleeding'.

The Truth about "Fortune's in The Follow-up". Tips For Effectively Following Up with Your Leads.

You pay Good Money For Insurane + Financial Leads. Don't throw it Down the Drain. Find Out When Buying Leads is A Waste Of Money.

Do your prospects often say "I want to think about It"? Find out what it means.

Talking with the Decision Maker helps you Solve Problems Quicker, and Write More Business.

Lead Generation is vital. Learn why most Salespeople fail to convert leads into business.

Contact Evolvd

Want to learn more about how Evolvd can help your business?
Use the form below so we can schedule some time to talk!

© 2020 Evolvd LLC