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Types of Business Leads

Basically, there are 3 types of Leads –

– Dead Leads

– Cold Leads

– Hot Leads

Dead Leads – Lets us assume that we have started our companion on different platforms like Google, Facebook, etc. and at the initial stage our campaigns do not engage users, this will chunk your sales pipeline.

 What the reason or Why do we call these leads dead leads or What went wrong, there are many questions coming to our minds

– We have targeted the wrong audience

– Our Design is not up to the mark 

– We are not using fresh content

– Time factors 

– Money Factor is that the audience you are targetting has low or no money to use your product or service.

there are many such factors…

How we can convert those Dead leads into sales?

When the lead is called dead lead then maximum we lose our hope and we never focus on those but yeah here are some insight points where we can convert our dead lead to sale lead

– We can always ask from our dead lead for the referral because referral sales will always give you profit and long-term relations and work

– You will always ask your customer why you are not interested in our product/service and you will work on those points to make your product/service better

– Drop the email to your dead leads with your offer, like you can offer some discount coupon or discount in %age or also ask them this offer is only valid for today or for a couple of hours

Cold Leads – Cold leads are those who have initially given a good interest in your product/service but at some point, they have lost their interest. There are many factors related to that

– Complexity of your product/server

– Cost-effective may be your competitor offers the same service/product at the same cost. 

How to engage your Cold Leads and convert them into sales

– Whenever you feel that this lead is my cold lead then don’t sell the product/service to them, Try to Educate them, let’s assume a Customer who is in Australia and wants a similar product/service that you are offering and he will come to Google and Search WordPress theme developer in Australia

In Google result they will find you but he is a layman user and doesn’t know much about website development. Initially, they show good interest in this, fill your form, sent the email, there is some conversion start between you and him, but at the mid of this they started to lose interest because lack of knowledge or benefits of the website, So at this stage h/she need education and you also need to change your track, 

Don’t sell them directly, You first need to educate him/her that what the benefits of the website and what the outcome will come etc… Yeah, this is time-consuming but trust me once the customer will learn the things and benefits, they definitely will be your long term clients and will never let you until and unless someone offers him best service/product from yours.

Always work on your product/service to make it better.

Hot Leads – Everyone knows with the name or name stand/speak itself that Hot leads are qualified leads who understand what you are offering and are willing to commit. They are more likely to result into a sale, you can use specific criteria to assess how close your qualified lead is to making a purchase. 

Here we will have a question that how we can identify that these leads are my Hot leads so here is ans many Businesses are using the BANT framework to identify their hot Leads. BANT stands for Budget, Authority, Need, and timelines.

If you follow BANT framework, You are looking at prospects’ budget’s that your point of contact has the authority to take the decision, How your offer can fulfill their needs and are able to complete or deliver the products in their timeline. Once you identify those then you will consider that lead as Hot Leads 

or in Simple terms – Pitch your product/service at the right time, just must know the pain of your customer and you have a better solution for him to solve that problem/pain.

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