What do you understand by the word lead generation? Lead generation is nothing but qualifying the prospects for the Sales Cycle. Just making a cold call does not mean that you have generated the lead. A lead is said to be qualified when it is at-least a WARM lead.
Following are types of leads:
Hot lead– The prospect knows about the product or service offering and is looking for the vendor or service provider. A need may not be immediate but in near future is surely going to go for the same. Little push may be required from the Sales Person.
Warm Lead– The prospect has heard about the product or service offering but might not have the clear understanding about the same. Here Sales Person has to put an extra effort in making the prospect understand about the product or service offering and clear all his/her doubts. Unable to handle the queries in the right fashion may result in loosing a potential prospect. So be cautious and be prepared while handling a warm lead.
Cold Lead– The prospect may or may not have heard about the product or service offering. It is possible that your cold call might have ignited the interest in his/her mind. So it is very essential to be clear in what you speak and explain to the prospect, as the prospect here is like a hot plastic and you can mold him/her , understand needs and understand pain areas. This would give you clear picture as what feature of the product to pitch, so that you can convert the cold lead into warm lead. Never MISS SELL and be an ETHICAL Sales Guy.
Lead Generation will only be fruitful when you are able to qualify at least a warm lead for your meeting. So while generating leads keep in mind type of lead you are talking to and mold your conversation accordingly. Do Not underestimate a Cold Lead, as it could be your potential prospect in near future. Try fixing a meeting with him/her, as this would help you understand and judge whether it is worth spending time following such leads or not. One meeting would be enough to judge such leads.
To succeed in sales, simply talk to lots of people every day. And here’s what’s exciting – there are lots of people!