What process should a new business use for finding valuable leads?

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Answered by: Jessica, An Expert in the Business Start Up Category
Finding Valuable Leads: Is This Lead a Stud or a Dud?

Not all leads are created equal. Some leads end up going nowhere while others create some of your most long-lasting clients. Knowing the difference will make or break a budding (or even established) business.

There are some leads that are bound to be more profitable than others, but determining which leads are worth your time and effort can be tricky. The following tips can be helpful.

Communicate Internally

Where did this lead come from? You may want to take the time to determine how the lead got to you and what information you can find out about the lead through this channel. Leads often originate with other people in the company. You might be able to find valuable information by simply working closely with your marketing team.

Ask, what type of person was likely to have responded to this particular piece of marketing or sales content? This factor alone can tell you a lot about the potential lead.

Ask the Right Questions

When you have a sales lead, asking the right types of questions about what they need and their expectations can go a long way. You do not want to drop your pitch too early and attract a customer that is not going to be a good fit for you what you or your company have to offer. Instead, ask questions about what they want out of a service or product. Ask what types of problems they are having currently that your product or service could potentially solve.

You may also want to ask about how they make their buying decisions related to this product or service. What are they looking for in a vendor? What features or benefits will influence their decisions?

What Type of Client is This?

The key to finding valuable leads is finding clients that are ready to make decisions about your particular product or service. Clients that are reaching out because they are considering new options for their business may not go anywhere, but, on the other hand, they may also be a huge money-maker in the long run. It is difficult to know which clients are serious about their new venture and which ones are just getting more information.

You can get a sense of how serious a client is by using your questioning technique. Focus on what other research or information they have gathered and how much they know about the product or service generally. Don’t make it seem quiz-like—you do not want to overwhelm them.

If they do seem overwhelmed, they probably are not ready for the full-blown sales pitch, and you may want to move on to more serious customers. Overwhelmed customers often have not done as much research as customers who are ready to buy. Point them to your website or provide informational materials and let them contact you if they want more.

You want to spend your time and effort on potential clients that are going to pan out. Spotting them takes experience, but using these tips can get you started.

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