Empower your GTM teams with limitless data access
Inbound lead conversion is always a challenging concern for sales and marketing teams. Organizations are always looking for new ways to spur lead conversion but need help with poor lead quality, even when the conversion numbers increase. Conversely, lead conversion is vital for organizations to sustain a profitable position.
The importance of lead quality
Conversion does not mean just collecting a pool of leads; it has to be quality leads. Lead quality is one the most significant advantages of go-to-market efficiency in yours. It is equally essential for businesses to decipher the quality of a lead quickly. This way, your team can spend their quality efforts in the most efficient way possible.
When you review your prospect’s profile, you look at their job title; what do you think if they are your product's user, influencer, or buyer? If you say no, that lead is not valuable to your time and will be a waste of effort.
Persona and job titles can help you in knowing about a prospect. Further, you also want to know if the prospect is with a company that has the budget to buy your service, a need for your benefit, or if they are using a competitor's product. Acquiring a lead from a stand-alone financial advisor when your software costs high doesn’t do justice. You would need that lead to be a part of a high-employee enterprise to have any chance of closing the deal. Lead quality is the result of the accuracy and details of the B2B lead data. When there is no guaranteed information, correct contact details, or missing information, then problems arise. It develops when the organization wastes money and resources on irrelevant and ineffective databases that will not help quality lead conversions.
According to reports, inaccurate contact data wastes more than half of the sales team’s time annually. So, a data-driven lead quality resource and dedication to gathering and managing quality data reduce wasted time and effort – making you a marketing pro.
Lead quality v/s lead quantity.
True that quality is better than quantity. As a marketer, you should always believe in generating high-quality leads rather than high-quantity leads. Quality leads will give you profits, and high-in-quantity leads will waste your time, effort, and money. However, with time lead quantity is also essential; once your team learns about quality leads, there is an okay in having lead quantity. Imagine if your lead quantity is high with the majority of quality leads, that would be the most significant achievement for your business, and your ROI will be increased.
There will always be a rift and confusion between focusing on quality and focusing on quantity. However, it is essential to attain the proper balance to keep your sales funnel filled with qualified prospects. Once you have clarity of both, it will be easy to improve lead quality and quantity and stay at the right balance. You must emphasize the suitable systems, processes, and automation to gather, engage, and nurture leads.
You can start with capturing prospects related to your service, which can be converted into the prospective customer. Slowly, it would be best to balance quality and quantity because both are equally important. Do not stick to one parameter, and ensure you are at a balanced phase.