How do we define a lead?
To succeed in business, you need qualified leads that convert into sales. No business succeeds without a pipeline of new leads. However, ensuring a proper understanding and definition of what a lead means can inform your strategies and approach to lead generation.
Many sales companies and self-described lead generation specialists define a lead as a simple “yes”, a positive email response or a confirmation that they are open to discussing the services on offer in the future. While a positive response is a step towards potential business, it isn’t enough to be quantified as a lead.
In our organisation, we define a lead simply, with no room for confusion or negotiation. A lead is an attended meeting. Not a booked meeting. Not the intention to book a meeting but a meeting that you and your prospect have attended and had the chance for a direct discussion. Nothing before this can be classed as a lead.
Attended meetings represent a direct and genuine connection between a business and its prospect. This means a legitimate opportunity to generate business and not simply the remote possibility it might happen.
Leads vs. prospects
Before attending a meeting with you or your sales representatives, a lead is simply a prospect. We define any contact before the attended meeting as a prospect and someone we can work with to reach the meeting stage.
While some companies will be quick to label any contact replying positively as a lead, this complicates the whole process. It also minimises the time you and your sales specialists can spend focused on developing relationships, discussing your offering and adding value to a prospect’s experience with your business through meetings.
More than just a reply
You will find many organisations providing lead generation services will quantify a lead as a reply to the initial email sent out. You may be left with the basic information about these “leads”. However, your sales managers then find most of their time is taken up in sales development roles, trying to take this initial reply to the next stage and booking in that initial meeting.
Receiving an initial reply is a positive step, but it’s not a lead. When you partner with a lead generation specialist, they should do all they can to deliver valuable leads. These leads will then generate high-quality business opportunities. If their work stops with the initial email, you’re left with all the legwork to do.
To reach the stage of a booked and attended meeting you may need a more extensive setup. The process involves sending emails, following up, and even cold calling when the potential lead stops responding. We believe there’s value in following up and getting that meeting booked in. Our approach to finding leads also ensures those we follow up and arrange meetings with are relevant to your business and open to your services.
Maximising the value of talented salespeople
Your sales managers and specialists should not spend their time chasing prospects and hunting down “leads” that simply aren’t going anywhere. Their focus should be attending meetings. This gives them the opportunity to provide the value and insight that potential businesses are looking for from your organisation.
Salespeople’s time is precious and by allowing them to focus on meetings and sales calls, you improve your chances of generating solid business opportunities. Chasing after potential leads is a waste of talent and energy. Opting to partner with a company which only considers a prospect a lead once you’ve already attended a meeting ensures the strain of this process is completely out of your hands.
No business should be wasting time and money on chasing prospects wrongly defined as leads. Often they have zero to little chance of turning into actual business. Instead, partner with specialists who handle the chasing for you and present your business with booked meetings. This gives you the chance to demonstrate your sales acumen, and you can develop direct and genuine connections with like-minded businesses who need your products or services.
At the Lead Gen. Dept we handle all of the legwork. This leaves your sales specialists to do what they do best – generate value, add insight and drive sales through meetings. Book a meeting with our team to find out more and benefit from meaningful high-quality business leads.
