The sole aim of individuals involved in digital and outbound marketing and sales is to segment leads into, one of two categories – qualified leads and unqualified leads. Leads can switch from one category to the other with the aid of nurture campaigns.
A qualified lead is a potential customer who has expressed interest in a product or service and meets general buying criteria.
A qualified lead is a person:
i) with need, budget, and purchasing authority.
ii) Working for a company that meets your customer profile for being a customer.
iii) With a buying timeline that falls within the time horizon of the sales representative’s commission plan.
It only takes a few minutes for a true sales professional to qualify a lead. And lead qualification can be done anywhere at a busy tradeshow or on a golf course, provided you have an efficient marketing team.ave completed, or are in the process of
Basically, qualified leads are the ones which have completed, or are in the process of completing your nurture campaign cycle.
Qualified leads are in control of their own buying cycle, completing self-education research who have brainstormed and listed their exact needs in a solution. They have a clearly defined budget to work with and are researching solutions within their means. In addition to this, they have low churn rates because they close on their own terms.
On the other hand, unqualified leads are the ones who have not been nurtured enough to close their sales cycle. They are often unsure of what your company offers and don’t know what they’re looking for in a solution. Unqualified leads may also be the ones for whom your product or service is out of their price range. Though it is possible to convert unqualified leads into customers, the churn rate is comparatively high.