There are six types of leads you can generate for your business. You will need to successfully convert these leads into customers to continually drive sales and revenue.
The types of sales leads in this article include:
- Hot leads
- Warm leads
- Cold leads
- Information qualified leads (IQL)
- Sales qualified leads (SQL)
- Marketing qualified leads (MQL)
Here are six examples of sales leads and how to convert them:
1. Hot leads
A hot lead has explicitly shown interest in your company or your products and services. They might request a free demo of your product or contact your sales team.
In most cases, hot leads have expressed a pain point that your business can solve for them and they usually fit your ideal customer profile or target audience.
How to convert hot leads
To convert a hot lead, you can:
- Have your sales team schedule a call or presentation.
- Offer your lead a free trial of your product or service.
- Demonstrate the benefits of partnering with your business.
While hot leads have already expressed interest in your products and services, they might also be evaluating your competitors. It’s essential to respond to your hot leads as soon as possible to ensure their interest doesn’t wane.
2. Warm leads
Warm leads are people who are already familiar with how your business works and the products or services you offer.
While they may not have actively expressed interest in your brand by contacting you directly, they typically read your blog posts and emails, or follow you on social media.
They might have shown interest in the past, but decided not to pursue it.
How to convert warm leads
You can convert warm leads into customers by:
- Send them emails detailing products or services that might interest them.
- Include calls to action (CTAs) in your blog posts and emails to encourage them to contact you or purchase a product.
- Have your sales team reach out to schedule a meeting and discuss how your products and services can solve their problems if you have previously spoken with the lead in the past.
Warm leads are one of the best examples of sales leads that are easier to convert because they have already expressed some interest in your business.
3. Cold leads
Cold leads are people who have not shown any interest in your business, but who fit your ideal customer profile.
In most cases, you generate these leads through your own research. Because they fit your target audience, cold leads represent potential sales and customers for your business.
How to convert cold leads
You can convert a cold lead by:
- Send a series of emails or a drip campaign.
- Call them to discuss the benefits of partnering with your business and how your products and services alleviate their pain points.
- Nurture them by sharing more information about your business through blog posts, emails, and social media.
Cold leads are one of the most difficult types of sales leads to convert. However, mastering how to turn them into loyal customers is the key to growing your business.
4. Information qualified leads (IQL)
IQLs are people who start researching solutions to their problems or queries. They may show interest in your brand by downloading a free guide or signing up for your email newsletter.
How to convert information qualified leads (IQL)
You can convert an IQL to:
- Include eye-catching CTAs in your emails, blog posts, and guides.
- Share essential information about your business, products or services in your email newsletter.
- Showcase your industry expertise and knowledge in your blog posts and guides.
- Create high-quality content that answers their questions and provides them with solutions.
- Personalize your website experience by learning about your unique interests and needs.
IQLs want to know how your products or services provide them with the solutions they need. Implementing personalized marketing messages and sharing more information about your business through emails, guides, and blog posts is a great way to convert these types of sales leads.
5. Sales qualified leads (SQL)
An SQL is someone your sales team has deemed a qualified lead. In other words, SQLs are customers that your sales team is likely to want to pitch or follow up with.
SQLs fit your ideal customer profile and have expressed a lot of interest in your company’s products and services.
How to convert sales qualified leads (SQL)
To convert a SQL, you can:
- Reach out to them with a sales pitch.
- Schedule a meeting with them to discuss how your products or services can solve their problems.
- Talk to them about the benefits of partnering with your business.
SQLs are one of the most likely types of sales leads that will convert into loyal customers.
6. Marketing qualified leads (MQL)
An MQL is someone who has taken the next step after seeing your marketing messages, and typically meets specific criteria set by your marketing team.
For example, an MQL might click on your social media ad and read your blog posts. They typically have a basic understanding of your brand, but might not be ready to make a purchase yet.
How to convert marketing qualified leads (MQL)
You can convert MQL to:
- Encourage them to sign up for emails so they can receive more information about your business.
- Create engaging content, such as blog posts and guides, that demonstrate your expertise.
- Implement personalized marketing messages that resonate with their interests and needs.
Sharing more information about your business and creating helpful content that provides solutions is a great way to nurture MQLs and encourage them to convert.
