If you had to choose between quality or quantity, which would you say is more important? We want to explore each side of the coin to see how lead generation activity should be targeted.
In this month’s blog, we do just that.
Quality vs quantity
Traditional lead generation strategies revolve around quantity. On paper, this makes sense, as you can produce actual figures ideal for enticing a high number of leads. But if you focus on quality, you’ll save energy, time and money. Your efforts will be on quality leads, resulting in more cost-effective, and less time-consuming, campaigns.
Many people realised that quality and quantity actually go hand in hand. Although volume is great, you can waste time pursuing duplicate or cold leads. Quality leads will make the best use of your precious sales resources.
So, how do you define a quality lead?
A quality lead is an interested customer with a clear intent to purchase, plus the funds and authority to do so. This is established by gathering relevant information and activity.
But how do you determine intent, funds and authority?
One option is to capture the data and have the sales team do the qualification, but this is time consuming and expensive. At Interlink, our AI technology can assess potential lead quality via numerous sources. We collect highly accurate intent data from search engines, social media streams, job boards, company news web pages, technology install data, content consumption topics, and articles related to things like investment, funding, acquisitions, and IPO.
Ultimately, the more indicators noted, the higher the quality of the lead. By prioritising lead quality, you drastically boost the likelihood of converting leads to sales, triggering a greater ROI. You’ll even improve customer relationships and loyalty.
Ensuring quality leads
Quality assurance isn’t easy. Statistics reveal that 34% of salespeople find their main challenge is prospecting and qualification. One of the frameworks we use is called the ‘BANT’ method. It’s seen significant success, providing you customise it to each individual.
Curious as to how it works? Let us explain:
Budget: Do they have the funds to buy?
Authority: Do they have permission to purchase, or would you need to speak to someone else?
Needs: What business pain points does you service work to ease or eliminate?
Timeline: When are they seeking to buy?
Prospects that fulfil at least some of these criteria are deemed viable. But ultimately, it’s up to the individual sales team to determine what a ‘worthwhile’ lead is to them.
Get quality and quantity with Interlink
With our AI technology, you no longer have to compromise on quantity when it comes to obtaining high quality leads. See, it gives you a broad reach across many web platforms, so you’ll be delivered quality leads at scale. You can finally have your cake and eat it!
To learn more about the BANT method, or how we gather intent data via our Discover solution, speak to the Interlink team today.
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We are running a pilot of all Interlink staff finishing their working week at lunchtime every Friday. There is an out-of-hours process available for urgent client requirements so as to ensure our normal level of service is not impacted by this change.
Lead generation isn’t an easy part of business – it takes up a lot of time, effort and resources, not to mention the financial cost. And this is because it currently faces a number of big challenges.