funneling out and avoiding unqualified leads

Funneling Out and Avoiding Unqualified Leads

Knowing how to effectively and efficiently funnel leads is critical to any business. Avoiding unqualified leads helps you to better focus on the leads that will turn a profit for your company. However, it is often difficult to predict which of your prospects are qualified vs. unqualified. Learning a few simple tips to assist you in this process will allow you to work smarter (not harder) and save you valuable time and money.

Use open-ended questions

Pre-qualify leads over the phone or when canvassing by asking open-ended questions. It is important for you to have relevant information at-the-ready, such as project-cost guidelines calculated from previous jobs, a script to help guide your conversation, and access to your sales calendar so that you may jot down an appointment time. Listen to a lead’s answers to better understand if they are a good fit for you and your company.

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Confirm the basics

If you’ve already received information from a lead through an online form or an email, don’t overlook confirming this information over the phone or in person. Contact information and budgets can always change, and typos can easily be made. You want to ensure that you always have correct and up-to-date records.

Be upfront about costs

It might seem abrupt to talk candidly about money from the get-go with a lead, but it is a necessary step to determine if a lead can become a client. You need to know if your potential customer has realistic expectations for what their project will cost and if they can qualify for financing. Be sure that all decision-makers for the project are on the same page before moving forward in the sales process.

No process is ever considered failproof, but having a few tricks up your sleeve that you can use as a guideline can help you save a lot of time and money in the long-run when it comes to avoiding unqualified leads. 

Learn why Medallion Bank is the nation’s leading non-prime recreation lender.

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