We have access to a wide variety of leads, thanks to the approaches and procedures of today.
We have a variety of qualified leads, including Sales Qualified Leads (SQL), Marketing Qualified Leads (MQL), and Product Qualified Leads (PQL).
Dealing with so many different kinds of leads can be daunting and draining for sales professionals. Fortunately, there is a method for streamlining the acquisition, nurturing, and closing of leads, and it only makes use of one kind of lead, the Sales Accepted Leads (SALs).
Sales Accepted Leads are marketing qualified leads (MQLs) that have met specified, agreed-upon criteria and are then given to the sales department for nurturing and closing. MQLs are generated by adverts, content, or any other sort of marketing activity.
Leads pass through three stages as they progress through the marketing funnel.
Sales Accepted Leads are mostly generated through ads, content, or any other type of marketing activities. Check out the top difference between MQL and SQL.
One of the most ignored aspects of the lead management process is sales acceptance. This is a huge missed opportunity for many businesses! A well-defined sales accepted leads strategy provides various advantages that result in more efficient internal operations and improved sales performance.
Lead acceptance is where the sales process begins.
It makes the marketing team accountable for formally transferring a Marketing Qualified Lead to the sales teams, and it holds sales teams accountable for timely follow-up.
This process formality contributes to the next significant benefit of a Sales Accepted Lead (SAL) over time below.
Around 80% of the target market never converts into more revenue, according to industry statistics.
One reason for this is that imprecise lead generation techniques put leads in limbo between marketing and sales, with both departments believing that the other is in charge. Including SAL as a stage in your internal lead management process guarantees that there is never any doubt about who is responsible for a certain lead and that leads do not slip through the gaps.
According to a recent LinkedIn poll, 60% of respondents believed that these two teams not being on the same page can harm the lead qualification process. Incorporating a Sales Accepted Lead into your lead management approach can help to alleviate this issue by recognizing alignment concerns early on and establishing a clear location in the process for having dialogues about problems that need to be addressed in the sales and marketing teams.
Leveraging a sales accepted lead as a technique for uniting marketing and sales teams can offer broader organizational benefits such as more efficient resource usage and collaborative ownership of performance to prevent lost leads and promote more sales.
Lead qualification means that a sales team spends more time engaging with leads that are more likely to convert. This naturally results in increased close rates and accelerates revenue growth for your business-to-business SaaS company.
When close rates go up, the sales funnel becomes more productive and reports higher rates of customer purchase. Team morale goes up and employee churn goes down – it’s a huge win.
During the lead qualification process, the marketing and sales team gathers prospect information that may be used to provide a more tailored sales experience.
Qualified leads can be divided based on firmographics or interaction history, enabling a more personalized and focused approach to lead nurturing, follow-up activities, and solution positioning. Check out the detailed guide about sales follow-up emails.
Sales and marketing do not always work well together and frequently contradict each other. Leads and sales are lost as a result of these connection problems. However, by following these four phases of sales-marketing alignment, you can boost the number of sales accepted leads.
Many organizations have a unique lead routing method, so the definition of a sales-approved lead will vary. As a result, before creating new SALs, you must first define what they are. Begin by mapping the lead funnel, then identify the points at which marketing transfers the marketing qualified lead to sales who in turn convert to a sales qualified lead.
Your SAL stage is at this point.
With a well-planned lead management approach, 46% of marketers saw their sales staff follow up on more than 75% of leads. Your strategy begins with outlining what happens throughout the SAL stage.
Marketing leads must satisfy pre-established criteria in the marketing funnel in order to advance in the sales process. Understanding that process is essential for pinpointing the spots where a good sales-ready lead is lost and those where bad or incorrect leads are allowed to pass.
Your sales team can use this information to address those problems, ensuring a smooth transition from marketing to sales with fewer hiccups and errors.
The SAL stage starts once marketing gives a lead to sales. An effective follow-up process for the SAL stage is a component of a well-organized strategy.
For instance, specify how long the SAL stage should last. The stage should ideally only take a few minutes for each lead. If not, you run the risk of losing the lead. The sales team should quickly review each lead’s data at this point to check for mistakes and make sure the lead satisfies their criteria.
The sales team frequently rejects leads during the SAL stage for the following reasons:
The sales and marketing teams should keep track of any problems that arise so they don’t happen again. The teams can find ways to speed up the process at each stage to save time and lower the rate of stagnant leads, for instance, if leads take too long to move from marketing to sales.
There are two advantages to having a better internal understanding of what makes a high-potential lead. First, marketing teams can now more accurately determine when leads should be passed on to sales. Second, a sales team has more clearly defined standards for identifying qualified leads that should be accepted.
Here are five factors that increase the likelihood of sales accepted leads becoming paying customers.
Leads who exhibit particular behaviors that suggest a desire to buy are more likely to convert. Online activity, such as attempting to compare prices and reading buying guides, is a simple indicator of this.
Lead tracking software programs like Sloovi are effective tools for monitoring prospects’ online activity and determining whether they are ready to make a purchase.
One trap that sales reps frequently fall into is spending too much time elaborating on the initial need for your solution with prospects. When a potential customer has a clear understanding of their need and how your solution can address it, leads are much more likely to convert.
Sales representatives should continue to look for these criteria as part of their lead acceptance strategy (i.e., what steps has the lead already taken in their buyer journey to show they are aware of their need) even though effective inbound marketing strategies go a long way in identifying prospects who do have need-awareness. Although a lead’s lack of need awareness is not a reason to reject it, it is a sign of conversion potential.
Although sales reps never want to discuss pricing with prospects right away, knowing their budget is essential if you want to determine whether a lead is a viable one. You run the risk of wasting valuable time if you don’t.
Marketing teams should, whenever possible, gather information about a prospect’s budget so that it can be evaluated during the SAL stage of your process.
Does your potential client appear to be in a hurry to find a solution to their problems? This is a strong sign of a lead that has been accepted by sales and is likely to convert very soon.
Once more, a lack of urgency is not a reason to reject a lead, but it does indicate that the prospect may take much longer to decide to make a purchase. Prioritize leads that exhibit urgency because they are more likely to result in faster sales revenue. Also, find what is gross revenue.
Get started with Sloovi Outreach