A lead is a potential sales contact, either an individual or organisation that expresses interest in your product or service. Leads are obtained in variety of ways, including through telemarketing, prospect management, social media marketing and organic search.
Businesses must constantly uncover new sales opportunities and assess them in order to find the ones that will become the most viable and valuable. So, one of the most important questions that you need to ask yourself is; What constitutes a quality sales lead?
The BANT system is one way to evaluate the quality of your sales leads a it allows you to assess the readiness of each potential sales lead.
BANT stands for:
Budget (Does your lead have the budget to buy your product or service?)
Authority (Does your lead have the authority to buy from you? Does someone else need to be involved in the process?)
Needs (Does your lead have the need for your product or service?)
Timeline (When is your lead looking to make a decision? Have they given you an indication of date?)
However, some leads are harder to evaluate because most companies no longer budget for purchases in advance, more than one person is involved in the decision-making process and the timeline isn’t set until the buyer has chosen a supplier.
So, when starting your lead generation, it is important to identify the best approach for your business, so you avoid spending a lot of time of leads that won’t turn into customers.
Our industry experienced sales and marketing consultants here at Network Scientific can assist you with your lead generation activities. For further information contact us on 01423 813520.