Definition of lead: –

Leads are very important for any business that offers services as its product to customers. Lead refers to the potential customers who might turn into your real customers. They could be a part of your purchased list, someone who attended your seminar or someone who saw your webinar.

Different types of leads: –

Gone are the days when the leads were all put together in a single category termed as leads. Today there are many different types of leads. Some of the most important are described below.

Hot lead: –

A hot lead is the one that looks very probable to be converted into your customer. So how do you identify whether the lead is a hot one? You can use the BANT technique to do so.

• Budget: –

  the amount of budget your prospect has is an important determinant. If he has a sufficient budget it is a good sign.

• Authority: –

  if your prospect that is the person you are dealing with holds the authority to make the purchase decision, they lead qualifies the second criteria to be termed as hot.

• Need: –

  most importantly does the prospect need your service? If yes, it is another factor in your favor.

• Timescale: –

  if your prospect mentions a specific time period within which they wish to make the purchase, it also increases the probability of converting the prospect into a customer.

When a prospect qualifies all four of these criteria, he is termed as a hot lead.

Warm lead: –

A warm lead refers to prospects that have shown interest in your company and its offerings. For example, if they have browsed through your website, signed up for your newsletters, interact with you on social media or in any other possible way shown interest in your company’s offerings the prospect looks like a warm lead. The way how warm transfer leads differ from other lead types is basically the fact that they need the product you are offering but are unsure whether they should purchase it from you or not. So it is now your marketing and sales team’s job to tap such leads and convince that they should buy the product from you only.

Cold lead: –

A cold lead refers to those who are might not be interested in listening to you at all. For instance, if you are contacted with an auto insurance company while you already have your car insured, you would be termed as a cold lead. Nevertheless, cold leads are also important as they might at some time in the future need any of your products.

Importance of understanding how warm transfer leads differ from other lead types: –

It is very important to understand how warm transfer leads differ from other lead types. Mainly because they require a different set of skills and different marketing strategies to convert them into customers. They need to be addressed in a different way. It is very important if you are to attain the desired objective of increased sales.

Warm transfer leads are more likely to be converted into your customers if you concentrated your marketing efforts in the right manner. It is because since they have shown interest in your company, that means they are all ears to listen to what you have to say. That is very important in sales marketing. When you know your prospect is listening, it is up to you to convince them in the best possible way. You have to win and maintain their trust. In the future, such clients who were once warm leads to promote your company as they refer it to their friends and family. They act  as your company’s ambassadors.

Having such an understanding helps you concentrate your sources and energies in the right direction so as to reap the maximum benefits for your company.