Many businesses that are new or inexperienced end up making the mistake of purchasing unqualified leads from unverified service providers. When it comes to leads, it is more about quality rather than quantity. You won’t be able to generate conversions if the leads don’t have the proper budget, authority, need and timeframe (BANT). In fact, unqualified leads are worse than having no leads at all, here’s why:
Unqualified Sales Leads Cost You Money
Hands down, lead generation is one of the most expensive and critical components for your sales team. There are many critical components to a successful lead generation program, such as; in-depth analysis, a leads database, and automation software. In simple terms, your lead generation has many costs to justify in terms of ROI. If you are not receiving high quality leads while bearing all the fixed costs then you are losing money.
Unqualified Sales Leads Cost You Time
Nothing is more valuable than your sales team’s time. Without qualified leads, your sales team has to wade through more cold calls, and follow-ups, all in the hopes of finding leads that convert. This is inefficient. Your sales team’s time would be better spent following up on qualified leads that are more likely to convert into closed deals.
Unqualified Sales Leads Cost You Productivity
While your spending time with unqualified leads your sales aren’t growing. Each unqualified lead wastes time and effort that your sales representative should have been spending on selling to qualified leads. Now imagine the loss you face when the small expense of opportunity cost for one lead is multiplied by hundreds or thousands of unqualified sales leads.
These are just some of the ways in which unqualified leads might be costing you money, time, and productivity. Remember to prioritize quality over quantity when it comes to lead generation. If you are looking for the best leads in the market, be sure to give us a call!