In the world of lead generation, there is a very general and simple term to describe the likelihood of a certain lead closing. Typically, leads are differentiated as either a "cold lead" or a "warm lead". In order to be an effective sales closer you have to understand which to go for first, why you should do so, and how to go about that. As stated prior, the point of the lead generation blog series on my success blog here is to overview the steps and tricks to doing that, and to doing it well.
The first step of lead generation, of course, is to identify your market and find a lead in the first place. But let's say that we already have a good 25 leads or so that we have encountered and logged into a CRM (client relationship management system) or just a basic spreadsheet of some sort. Now that we have some leads to work with and to begin negotiating and closing with, the next step is to conduct some basic lead analysis. Assessing your leads can be fairly simple, depending on your niche and how many factors are at play in terms of the closing timeline and whether any contracts or paperwork is involved. You go through and look at each lead closely, and determine how likely that lead is to close, and how soon. Those two factors determine the warmth of the lead.
If a lead is cold, then it is likely somebody that you have spoken with awhile ago, and that you haven't had all that much contact with. This could also be a referral that you know needs your product or service, that you haven't contacted quite yet. If it is a warm lead, then it is probably a prospect that you have already spoken with, possibly even began the negotiation process with, and have already schedule a follow up meeting together with. Going through and prioritizing your sales efforts based off of the lead statuses (cold/warm) will greatly impact your closing efficiency, and save you time. This will also make sure that the most important and high-paying prospects are being taken care of first and foremost before any "possibly" viable cold leads are pursued.
Thank you all for reading! I'll be going into greater detail on the lead generation process within the next 24 hours! If you would like elaboration on the contents of this post, as always, feel free to shoot me an email at connorjsmithmarketing@gmail.com!