Scribd Logo
Upload

Welcome to Scribd!

  • 22 views

    4lead Qualification

    Uploaded by

    Janelle Boquida
    Lead qualification is the process of predicting how likely a prospect is to become a customer. It involves determining if a lead meets requirements to purchase a product or service by assessing factors like their budget, authority, needs, and timeline (BANT framework). Qualifying leads is important because it allows companies to focus their efforts on prospects most likely to buy and develop personalized solutions. Qualification can occur during initial calls and sales presentations using frameworks like BANT, GPCTBA/C&I, CHAMP, and MEDDIC to evaluate challenges, decision makers, budget, and priorities. Both basic and further qualification are common, with some representatives qualifying more on calls and others more in meetings before presenting.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    4lead Qualification

    Uploaded by

    Janelle Boquida
    22 views12 pages
    Lead qualification is the process of predicting how likely a prospect is to become a customer. It involves determining if a lead meets requirements to purchase a product or service by assessing factors like their budget, authority, needs, and timeline (BANT framework). Qualifying leads is important because it allows companies to focus their efforts on prospects most likely to buy and develop personalized solutions. Qualification can occur during initial calls and sales presentations using frameworks like BANT, GPCTBA/C&I, CHAMP, and MEDDIC to evaluate challenges, decision makers, budget, and priorities. Both basic and further qualification are common, with some representatives qualifying more on calls and others more in meetings before presenting.

    Original Title

    4LEAD-QUALIFICATION

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Lead qualification is the process of predicting how likely a prospect is to become a customer. It involves determining if a lead meets requirements to purchase a product or service by assessing factors like their budget, authority, needs, and timeline (BANT framework). Qualifying leads is important because it allows companies to focus their efforts on prospects most likely to buy and develop personalized solutions. Qualification can occur during initial calls and sales presentations using frameworks like BANT, GPCTBA/C&I, CHAMP, and MEDDIC to evaluate challenges, decision makers, budget, and priorities. Both basic and further qualification are common, with some representatives qualifying more on calls and others more in meetings before presenting.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views12 pages

    4lead Qualification

    Uploaded by

    Janelle Boquida
    Lead qualification is the process of predicting how likely a prospect is to become a customer. It involves determining if a lead meets requirements to purchase a product or service by assessing factors like their budget, authority, needs, and timeline (BANT framework). Qualifying leads is important because it allows companies to focus their efforts on prospects most likely to buy and develop personalized solutions. Qualification can occur during initial calls and sales presentations using frameworks like BANT, GPCTBA/C&I, CHAMP, and MEDDIC to evaluate challenges, decision makers, budget, and priorities. Both basic and further qualification are common, with some representatives qualifying more on calls and others more in meetings before presenting.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 12

    LEAD QUALIFICATION

    Lead qualification is the process


    of predicting how likely a prospect
    is to become a customer.
    Objectives: At the end of this module,
    you should be able to:
    1. define lead qualification?
    2. discuss the importance of lead qualification
    3. enumerate and understand some of the
    frameworks in lead qualification
    4. practice lead qualification
    1. What is a lead qualification?
    is the process of predicting the likelihood
    that a sales prospect will become a
    customer.
    Is the process of determining whether
    a lead meets the requirements to purchase
    your product or service.
    is the process of determining the likelihood
    that a lead will become a customer.

    LEAD: is a potential sales contact, individual or organization


    that expresses an interest in your goods or services.
    2. Importance of lead qualification.
    • You can move on when the lead isn’t qualified and spend
    more time on the prospects who are more likely to buy.
    • You can focus on a smaller, specific segment of buyers,
    which can help you deliver a more personalized selling
    experience.
    • You can learn the ins and outs of the buyer’s challenges
    and deliver a better solution as a result.
    • You can guarantee that most of your activities lead to a
    positive impact in revenue.
    • You can create different sales qualification processes for
    different verticals and keep a list of pitches that still feel
    personalized.
    3. How to qualify leads:
    • A. BANT
    • BANT stands for budget, authority, needs and timeline.
    Sales teams commonly use this framework, which tech
    giant IBM first developed, to answer these questions:
    • Budget: How much budget does a prospect have to
    address their current need?
    • Authority: Does the prospect have the authority to make
    purchases?
    • Need: What is the nature of the need that the prospect
    hopes to address? Why has the need not yet been
    addressed?
    • Timeline: Does the prospect hope to make a purchase
    sooner or later?
    3. How to qualify leads:
    • B. GPCTBA/C&I
    • Goals: Ask your prospect about their biggest short-term and long-term objectives,
    whether those goals are revenue-based or otherwise.
    • Plans: Ask prospects how they plan to achieve their goals and how their plans are similar
    or dissimilar to previous actions.
    • Challenges: Inquire about what makes now the right moment to address the challenge
    they hope to solve with your product/service. You should also ask whether the prospect’s
    team is equipped to face this challenge.
    • Timeline: Ask your prospect how soon they want to implement their plans and how you
    can help. (Note that you may want to deprioritize prospects who plan to buy from you later
    than sooner, but you should not entirely disqualify these leads.)
    • Budget: Ask your prospect how they perceive your products’ or services’ return on
    investment. You should also ask whether they are paying for other solutions and whether
    their budget for those solutions is similar to that for your company.
    • Authority: Ask your prospect whether they have purchasing authority or if they represent
    someone who does. If they’re representing someone, ask further questions about the
    actual buyer and what concerns and challenges they might have that could prevent them
    from making a purchasing decision.
    • Consequences and implications: Consequences and implications concern the possible
    outcomes if a sale is made. Ask your prospect how these outcomes would affect them
    and their company. Ask what comes next for them if your products and services allow
    them to successfully reach their goals.
    3. How to qualify leads:
    • C. CHAMP
    • CHAMP is the reverse of BANT in that it focuses on the
    prospect’s challenges and then the actual purchase. It
    stands for challenges, authority, money, and
    prioritization and involves the below questions:
    • Challenges: What is the prospect’s need, and how do
    their current solutions fail?
    • Authority: Does the prospect have purchasing authority,
    and, if not, how can someone with authority be brought
    into the conversation?
    • Money: Does the prospect’s budget accommodate the
    prices at which you offer your products or services?
    • Prioritization: How soon does the prospect plan to act,
    and are other possible solutions on the table?
    3. How to qualify leads:
    • D. MEDDIC
    • Metrics: How does the sale affect both parties’ finances?
    • Economic buyer: Who creates the prospect company’s
    budget?
    • Decision criteria: What does the economic buyer need to
    know to approve company purchases?
    • Decision process: How does the economic buyer approve
    purchases?
    • Identify pain: Which of your prospect’s needs does your
    product or service solve?
    • Champion: Who at the prospect’s company will vouch for your
    product or service, and how can you collaborate with them to
    make the sale?
    4. When Does Qualifying a Lead Happen?
    • Qualifying can take place during an initial cold call, during a
    sales presentation, or both. Some salespeople like to do basic
    qualifying during a cold call and then qualify further during a
    sales appointment, but before they start a presentation.
    Others prefer to do more qualifying during a cold call,
    reasoning that they don't want to waste time on an
    appointment that isn't likely to yield anything.
    • It's best to do some qualifying during an initial cold call, and
    few prospects will mind answering two or three simple
    questions. If you do get a lead who refuses to answer a single
    question during the cold call, they probably aren't a good fit.

    Cold call refers to solicitation by phone or telemarketing, but can also


    involve in-person visits, such as with door-to-door salespeople.
    .
    5. Performance Task
    A. (by group)

    1. Choose a product: (I suggest, the product you are having in your


    market research)
    2. Identify at least 3 leads (a person, group, a company, a store etc. )
    3. Choose 1 or 2 frameworks cited in our module.
    4. Qualify your 3 leads using your chosen framework/s.
    5. a. After which, from among the 3 leads, identify that lead who
    would become your prospect.
    b. Discuss why you choose that lead.
    Note: 1. Pls. have a documentation of your activity using “video”.
    2. Pls. write the discussion (why you choose that lead) in a ½
    crosswise paper to be submitted on April 15.
    B. Individual (1 whole sheet of paper)
    1. Discuss the challenges you experienced when
    you had the activity?
    2. Write your insight/s about the group activity.

    You might also like