Sales is a very vast field. Achieving a good sales ratio may be an end goal of any business organization, but it has to pass through many stages and pathways to reach that end goal. When there is tough competition in the market, every other pathway may seem attractive and inviting, but it may not render positive results and only end up wasting your time and effort.
So, business organizations have to be very careful in pursuing the prospects and sales leads in order to not end up with results with less effort. Getting a detailed insight into the types of leads in sales is one of the best strategies to know about them. Moreover, when you are aware of them, you have a better chance at utilizing them perfectly and maximize your gains.
Dig deeper into this article to get your hands on different types of sales leads and learn about them in detail.
Top 7 Types of Sales Leads Every Business Should Know About
Securing sales leads is not so easy. One of the most critical factors that makes it more complicated is that the businesses are often not aware of the type of sales lead and keep investing their energy in it. They do not know much about how they can handle or utilize it for their benefit. So, knowing about sales lead types is inevitable to enjoy them to the fullest.
Here are the top types of sales leads every business person or organization should know about.
1) Hot Lead
The very first type of lead in the sales process is a hot lead. The hot lead is generally the one that qualifies the criteria of sales dealings and has a better profile of offering benefits to the business organizations. BANT that qualifies budget, authority, need and time frame of the lead prospects helps evaluate if it is hot or not. Business organizations also hire lead generation companies in Abu Dhabi to win over the hot leads and finalize the deals.
2) Cold Lead
The cold lead is another common type of sales lead. It is called cold lead because it is not much qualified, and significant effort, hard work, and constant lead nurturing are required to convert this type into a successful lead. The cold leads might not have the right budget, authority, or time frame, which keeps them from sealing the deal; however, their need keeps them in the sales cycle or prospect list.
3) Warm Lead
The third type is the warm leads. The warm leads are in the mid of the hot and cold leads. They do not qualify on all criteria like hot leads, and they do not even fail on all criteria like cold leads. They have a fairly positive ratio of reaching the end goal of deal closure. Such types of leads require a little bit of nurturing to achieve profitability.
4) Information Qualified Lead (IQL)
The next type is the information-qualified lead. This is the type of lead in which the prospects get in touch with the business just randomly while trying to search for information. Such leads often share their contact details to get more information. After that, the marketing teams get a hold of them and share all the relevant and needed information that might motivate them to close the deal.
5) Sales-Ready Lead (SRL)
One of the unique types of a sales lead is the sales-ready lead. This is the lead in which the individual or business prospects contact the business organization in order to get connected to the sales teams. Such prospects have usually done their research and are ready to finalize the deal.
6) Marketing Qualified Leads (MQL)
Another common type of sales lead is the marketing qualified lead. As the name suggests, this type of lead becomes a prospect because of the marketing efforts. They might have attended a webinar or watched a video that attracted them. It is different from the information-qualified lead in terms that those prospects get to know the business first and then explore the information, while in the case of MQL, marketing efforts attract the lead.
7) Sales Qualified Leads (SQL)
Sales qualified lead reaches the end stage of the sales funnel through the efforts and hard work of the sales. However, to reach the final stage taking the right initial step and prospecting is critical. You can take the help of lead generation experts to find the right prospects and ensure sales qualified leads.
Know the Type of Leads to Maximize your Profitability!
Knowing the type of lead is critical in order to put in the right mix of effort, hard work, and lead nurturing to achieve the goal. However, if you do not have prospects, you might not be able to fix deals. Contact the professionals to get prospects on board that reach the final stage and add to your profitability.