As business owner or agency owner, you need to know how to qualify leads. You don't have time to waste chasing unqualified leads who were never going to become customers.
Qualifying leads is especially important when you have a high-ticket offer at a premium price point. High-ticket offers typically mean high profit margins, if you pursue the right leads.
According to Statista, only 7% of leads coming from marketing efforts are of very high quality. This makes the question of how to qualify leads even more critical. When you think about general consumer behavior, it's easier to understand why knowing how to qualify leads is crucial in high-ticket sales. Think about it: Do you need to chat with someone about your items before you buy groceries from the supermarket? Or to buy a book online? Chances are, no. You just buy. Why? Because these are low-ticket items.
Low-ticket items don't require much thought before buying.
When the offer is at a high-ticket price, however, you need to chat with someone. You need a consultation.
If you're a high-level business executive, not only do you need to know how to qualify leads, but also how to do that in the context of a high-ticket offer. And this will mostly be done via consultation. To understand how to qualify leads in the most efficient way, check out these below tips:
The first thing you need to do is ensure your prospect needs your product or service. If you sell to someone who doesn't need your product or service, they could have buyer's remorse, which could result in negative reviews. You don't want that.
What problem does your prospect have that makes them need your offer to solve their problem?
Remember, people don't buy their way into something. They buy their way out of something. Out of their pain, when they need something to solve their struggle.
No matter how much a prospect needs your solution, they can't buy if they don't have the money. That's why you need to qualify leads by qualifying their financial position.
You can do this by asking qualifying questions, such as, “How much have your spent on similar services in the past?” Or, “What are you willing to invest in order to solve this problem?”
Sometimes, people will pretend they can't afford it, when really they just aren't convinced. So the argument “I don't have the money” sometimes means, “I don't see the value”. In this case, you need to learn how to better communicate the value of your offer to your leads.
However, often the truth is that they can't afford it. So, to avoid wasting your time, find out early on if they have the ability to pay.
When it comes to how to qualify leads, you need to figure out if they're the decision maker. Otherwise, you could waste an hour of your time talking to someone who ultimately admits the decision-maker is someone else, and you need to repeat your whole sales pitch to someone else.
You can qualify them as the decision maker by simply asking, "Are you the decision maker?"
Alternatively, you can say, “What is your role in the decision making process?” Or, “Can you walk me through your decision process?” Or, “Is there anyone else that needs to be involved?”
We live in a fast-moving world full of busy schedules, multiple priorities, large to-do lists and deadlines.
When it comes to how to qualify leads, a big part of qualifying someone is ensuring that they have a need for your product or service now.
Do you want to spend your time talking to leads who 'might' buy when they start their new business in about 2-3 years? Or, do you want to talk to leads who have an urgency to buy now?
I'm not saying you shouldn't nurture relationship with prospects who might buy later on. They may decide to take action in the future, and when they do, they'll buy from you if they remember you. And that's great. Plus, research supports the idea to nurture leads as it can generate 50% more sales at a 33% lower cost.
However, you don't want to waste your time talking to a lead as if they're ready to buy now, if they're not.
What I mean is, you'll want to find out early on what their time frame is, because the way your consultation goes when you're nurturing them vs closing them will be quite a different script.
You can qualify your lead's urgency by asking questions like, “What's your ideal starting date?” Or, “What is the timeline for this to get going?” Or, “How long are you are okay with keeping this problem, or allowing it remain unsolved?”
A closing question might be something like, "Are you ready to solve that problem today?"
“No matter what you do, don’t pass leads directly to the sales team.” – Jon Miller.
This Jon Miller quote should make more sense now. If you don't qualify leads first, the sales team will spend their time and effort on unqualified leads which is just a bad business practice.
Remember that when it comes to high-ticket offers, most people want to talk before they buy. Why? Because they'll commit more time, effort and money compared to a low-ticket offer. So they need a consultation.
This consultation can serve as a qualifying process for their prospect's:
• Ability to pay
• Decision making process
• Urgency and time frame
Certain factors affect the type of questions and the depth of qualification steps. These factors include, but are not limited to:
• The initial interest of the prospect.
• The personality of the prospect.
• Cultural background.
• Whether is a B2C or B2B prospect.?
If you're wondering how to attract leads who are interested in your high-ticket offers, you may need a copywriter's help coming up with (and crafting) a high-level, compelling lead magnet idea. You can schedule a consultation with a certified copywriter to learn more about lead magnets.
Dimitrios Katsetis is a copywriter who leverages your mind to connect with your target audience. He has a background in finance and fitness.Hire Dimitrios