High Quality Lead Generation
What It Is
SOMAmetrics defines a High Quality Lead (HQL) as one that is ready to go into a sales funnel. At a minimum, a HQL must be someone who:
- Is a decision maker or someone who can get a decision made
- Has a compelling need or problem that must be solved in the short term because the cost of the problem far exceeds the cost of the potential solutions
- Has the budget or can find the budget to pay for the solution
- Has agreed to a meeting with a sales rep to start evaluating this solution
- Has been accepted by Sales as qualified
A HQL means that the lead has you on the short list of potential sellers. This does not mean that you as the seller is guaranteed to win the deal; that depends on your ability to prove to be the best choice among a select few. However, if you have identified a HQL, then you have a far more realistic chance of winning this opportunity.
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Win Or Lose - Fast
Because a HQL is a decision maker with the ability to purchase a solution AND wants to make the problem go away sooner rather than later, the sales rep will know if she will win this deal or not very early in the sales process. This is not true for low quality leads that can drag on for many months before the rep gives up.
High Quality Leads, therefore, have the following qualities:
- Win or lose faster. It is always less costly to lose faster than to lose slowly.
- Win more often than lose since these are highly targeted and qualified leads.
However, High Quality Leads are generated through a very specific set of best practices. The first step is to build the foundation for creating HQLs; this foundation rests on four critical pillars