Quality over quantity applies to a lot of things we do in our daily lives – especially in certain aspects of sales. Lead generation is at the forefront of quality over quantity.
Lead quantity – gathering all the leads you can find and wishing for the best as you take time and resources out to reach to every single one – is seldom as effective as lead quality.
When the success of your business relies on the constant gathering of new customers, it’s a no-brainer that quality trumps quantity. Many salespeople and marketers waste their efforts targeting leads that will never amount to anything. Low-quality leads may save you time and money at first, but in the long run they will only end up costing you more.
What good is a pipeline full of leads when you don’t even know if they match the audience you’re trying to target? Quality leads meet the demographics of your target audience. The very best lead quality can even go beyond that, meeting their psychographics (personality, values, opinions, attitudes, interests, and lifestyles).
With qualified leads, you’re all but guaranteeing that you’ve checked off as many of the target audience qualifications as possible.
Need more convincing that quality leads are essential to your lead generation strategy?
The Costs of Using Bad Leads
Time chasing weak leadsWhen pursuing unqualified, bad sales leads you risk wasting your time. The time spent trying to reach a bad lead could be spent on more productive things such as closing multiple deals with leads you know are more likely to buy. Knowing who you’re contacting can save you a tremendous amount of time.
Bad data also slows employees down so much so that they feel their performance suffers. Something such as calling a person that no longer exists at a number wastes more than 27 percent of their time [Anodot].
Money/Resources on wasted timeHow you reach your prospect, whether it be by direct mail or a widespread email campaign, costs money. For every bad lead, your business loses money that could be spent on a reliable lead.
Opportunities missedOpportunities are missed when you’re using inaccurate data. In the US alone, businesses lose $3.1 trillion annually due to poor data quality [Anodot]. Image how much you would save by getting qualified leads. With weak leads you also lower your opportunity to close a sale.
Finding Real Value
So why would you trust just any company to provide such a critical service? You need a sales lead provider that brings you real value. Here’s what to look for:
ExperienceHow long has the company been providing its services? You want a company that knows what it’s doing.
Quality ControlFind out where the company gets its data from. Does it just collect and resell other companies’ data? Be sure to find a provider that constantly qualifies its own data.
Customer SatisfactionResearch what customers are saying about the company. Look how its reputation stacks up against others.
AvailabilityFind a company that has experienced people who are available to help when you need them. Good customer service is a must.
Do your research and put your trust in a company that has the data and services that will help you build your sales.
