A typical telemarketer makes at least 140 live calls, talks to at least 40 decision-makers, acquires at least 10 fresh contact emails, and sends out reference materials to at least 140 contacts – all in a day’s work.
That looks quite a lot to finish in a plate – unless you’re a foodie.
Do all these guarantee a Lead? Let’s see.
Each qualified lead follows a set of criteria. The number of qualified criterion of a certain lead will determine its classification. See below.
Sizzling and sumptuous to your eyes…
Yes, it’s a Lead! This type of a qualified lead that meets all the required criteria which most of time is set. So how to know if it’s a hot lead, apply the BANT lead qualifying system.
B is for Budget
The prospect has set or prepared a budget and is just ready for disposal at anytime a project proposal is approved by the management.
Qualifying questions for this criterion would be:
Do you have a budget? How much is your budget? Are you willing to expend? What is your budget range?
A for Authority
The contact person you speak to could either be the Person In charge, or the Recommender. He should have the final word to either say “yes” or “no” to the proposal.
Qualifying questions are:
Are you the person in charge/recommender on this project? What is your role on this? Do you solely make decision on this?
N is for Need
Need would always top the set of qualifying questions in a telemarketing script. When a need from the prospect is identified, this sends a signal of a brewing lead.
Qualifying questions maybe as follows:
Are you looking into this type of product/service to improve your process? What product/service are you currently using? Have you encountered any issue? Are there any initiatives from your company to evaluate/replace your current system? What functionalities are you looking at?
T is for Time frame
The point period from the time you spoke with the prospect to the planned or projected period of purchase or implementation of the new product or service.
Most qualifying questions would be:
When do you plan to purchase? When do you plan to implement the new system?
Learn How Callbox Generate and Qualify Sales Leads!
Well-plated and perfectly garnished, but tastes just fine… what’s the missing ingredient?
This qualified lead misses 1 or 2 criteria. But what makes it bagged the qualifying scale is that a Need was identified and the other 1 or 2 qualified criteria should be able to support the first. In most cases, the disqualifiers would either be Budget or Time frame.
But don’t get easily discouraged, these leads are not wasted. They could still be nurtured and you might be surprise in due time they’ll be contacting you again.
So, who likes a bowl of cold soup?
A qualified cold lead has 2 or 3 disqualifiers and the remaining qualifier would be supported by the prospects agreement to take a look or compare set ups between their current system and yours. This is the kind of lead which most of the time is set to KIV (kept in view), and further nurturing is needed. Business success is not achieved overnight. It takes time, effort, tools, skills and strategies to be able to reach your target results.
Look at every lead as an edible opportunity. Imbibe hunger for it. Whether it’s HOT,WARM, or COLD, it’s still comestible, isn’t it?
Here’s what you’ve missed: Curated: The 4Ws & 1H of a Qualified Lead
Do you need the following industry -targeted customers for your business? Learn more how we generate them.
This post originally appeared at The Savvy Marketer.
Publish Date: January 5, 2017 7:03 AM
#1: Malaysia Airlines: Bucket List
Still reeling from two tragic disasters in 2014, Malaysian Airlines tried to make it three in a row by launching a promo called “My Ultimate Bucket List Contest”.
If you recall, more than 500 people perished when two of Malaysian Airlines’ planes crashed within months of each other. One disappeared midflight on the way to China, while the other was allegedly shot down flying over Ukraine.
Now the genius who came up with Malaysian Airlines’ “Bucket List” contest has a lot of explaining to do (Not if he’s been fire already. In that case, good luck looking for another job in marketing.) In a competition, the airline asked their customers to answer the question “What and where would you like to tick off on your bucket list, and explain why?” The competition was open to participants in New Zealand and Australia, who would be eligible to win iPads or economy class tickets on the airlines.
While it would have been brilliant under normal circumstances, the company’s recent history is far from normal. The marketing genius who came up with the ploy might have been too excited about the promo he/she forgot to take into consideration the fact that a “bucket list” is nothing more than a list of things people want to do before they die. Needless to say, the campaign reeked of a lack of sensitivity, empathy, and plain common sense. Fortunately, the promo was changed to something like a “to-do list” not long after it was launched.
Related: What Marketing Lessons We could get in Steve Harvey’s Gaffe at Miss Universe
#2: Coors Rocky Mountain Spring Water
It’s just not wise to sell a non-alcoholic version of one of the most recognizable beer brands in the US, if not in the world. And yet, somebody from Coors was able to convince somebody that it might actually work. So out came the *drum roll* Coors Rocky Mountain Spring Water!
According to the company itself, Coors has brewed its iconic American lager with Rocky Mountain spring water since 1873. Even if it’s 100% true, it doesn’t mean it will translate to revenue once you remove the alcohol from the spring water. No, it doesn’t. Apparently, the customers were so used to the alcohol in Coors they just couldn’t accept other flavors like lemon-lime and cherry.
#3: American Airlines Fly First Class Free Forever
Because of the stiff competition in the airline industry, American Airlines decided to up the ante: target customers with money to burn. So in 1981, American Airlines unveiled a special offering: for just *choke* $250,000, privileged customers get to fly first class for the rest of their lives. And that’s unlimited – meaning the customers can fly as often as they want. And not just that. For an extra $150,000, they could bring anybody along — family member, friend, colleague, even a stranger. Great, right? For the customer, yes.
For American Airlines, it sounded like a brilliant marketing magnet, until they realized they lacked foresight. Remember, a first-class ticket isn’t inexpensive, and some people had the brains to use the special American Airlines pass as often as their health permitted to, uhm, have a quick ROI.
For example, there was a guy who flew to London 16 times. In one month! It’s like waking up in the morning and you got bored and decided to have breakfast in near Buckingham at 9:30, maybe have lunch in Amsterdam at 1 pm, fly to Paris for dinner and return to New York just before bedtime. Sweet.
Soon, the company had enough. Research showed there were customers who literally used up a million dollars in free airfare every single year. After more than a decade, it stopped the promo. No reports came out as to how much profit AA gained from the promo.
#4: Pepsi’s Grave Mistake
If competition on the airline industry was stiff, it was cutthroat in the carbonated beverage industry. You’re familiar with the Cola Wars, right? In a move that Pepsi Co. hoped would widen its global reach, it expanded to – where else? – China. However, when Pepsi went into the Chinese market, they failed to do their research on the meaning of their slogan, which at that time was, “Pepsi brings you back to life”. Apparently, the English and Chinese languages aren’t a perfect fit when translations are done, and so Pepsi’s cool slogan, when translated to Mandarin said something like, “Pepsi brings your ancestors back from the grave”. It was so bad even if it were a Halloween promo, the Chinese customers still wouldn’t get a Pepsi. Unless it’s free.
Related: Why Best Actor Leonardo DiCaprio is “King of the World” After his Speech at Oscars
#5: New Coke Doesn’t Mean “Better”
Most people, even those with no idea about marketing, are familiar with the maxim “If it aint broke, don’t fix it.” Yet, there’s somebody from Coca Cola who must not have heard of this morsel of wisdom. That, or he’s just a hard-headed maverick.
See, in 1985, after almost 100 years of being in the business and doing really good, Coca Cola decided to launch a ‘New Coke’ – new logo, new font style, and best (or worst) of all, new flavor! What it didn’t take into consideration was how its loyal customers would react for with the drastic change. To make the long story short, customers boycotted the “new” drink. Fearing the worst, Coca Cola wisely reverted to the tried and tested original flavor, packaging, and branding. Somebody from Coke must have scribbled a note on his notebook that says “Not all change is good.”
Wish to know more the other brands? See more at The Savvy Marketer.
Publish Date: August 23, 2016 4:45 PM