Did you know that 79% of marketers say that lead generation is their number one goal? And 55% of marketers say that finding leads that convert into customers and clients is one of their biggest challenges in generating new leads.
Generating and converting high-quality leads is your key to earning more revenue and achieving successful business growth. But how do you successfully generate leads that will convert into customers and clients?
Knowing the different types of sales leads and how to convert them is your solution. Keep reading to learn more about the types of leads in sales and how you can successfully turn those prospects into revenue!
And then sign up for our newsletter, Revenue Weekly, to get more lead generation tips and tricks sent straight to your inbox for free from our award-winning experts!
What are sales leads?
Sales leads are people that fit your ideal customer profile or expressed interest in your business, products, or services. In other words, sales leads are potential customers or clients.
Leads can show interest in your brand in several ways. For example, they can:
- Fill out your contact form
- Request a free quote or demo
- Sign up for your emails
There are various types of leads in sales. The type of lead you generate depends on the interactions of your lead and how they expressed interest in your business.
Successfully nurturing these leads by giving them the information they need at the right time is essential to increasing your conversions and sales.
In the next section, we’ll dive into examples of sales leads and how to convert each one.
6 different types of sales leads and how to convert them
There are six types of leads that you can generate for your company. You’ll need to successfully convert these leads into customers and clients to drive sales and revenue continuously.
The types of sales leads I’ll cover 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 your business can solve for them and 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 pitch
- Give your lead a free trial of your product or service
- Demonstrate the benefits of partnering with your business
While hot leads already expressed interest in your products and services, they could also be scoping out your competitors. Responding to your hot leads as soon as possible is essential to ensure their interest doesn’t waver.
2. Warm leads
Warm leads are people already familiar with how your business works and the products or services you offer.
While they might not have actively expressed interest in your brand by directly reaching out to you, they typically read your blog posts and emails or follow you on social media.
They might have previously expressed interest in the past but decided not to follow through.
How to convert warm leads
You can convert warm leads into customers and clients by:
- Sending them emails detailing products or services that might interest them
- Including calls to action (CTAs) in your blog posts and emails to encourage them to contact you or purchase a product
- Having your sales team reach out to schedule a meeting to chat about how your products and services can solve their problems if you previously spoke with the lead in the past
Warm leads are one of the best examples of sales leads that are easier to convert because they’ve already expressed some interest in your business.
3. Cold leads
Next on our list of the different types of sales leads is a cold lead. Cold leads are people who haven’t demonstrated any interest in your business but fit your ideal customer profile.
In most cases, you generate these leads through your own research. Because they fit into 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:
- Sending a series of emails or a drip campaign
- Calling 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 leads in sales to convert. However, mastering how to convert them into loyal customers is the key to growing your business.
4. Information qualified leads (IQLs)
IQLs are people who begin to research solutions to their problems or queries. They might show interest in your brand by downloading a free guide or signing up for your email newsletter.
How to convert information qualified leads (IQLs)
You can convert an IQL by:
- Including attention-grabbing CTAs in your emails, blog posts, and guides
- Sharing essential information about your business, products, or services in your email newsletter
- Showing off your expertise and industry knowledge in your blog posts and guides
- Creating high-quality content that answers their questions and provides them with solutions
- Personalize their website experience by learning about their 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 an excellent way to convert these types of sales leads.
5. Sales qualified leads (SQLs)
Next on the list of the types of leads in sales are SQLs. An SQL is someone who your sales team has deemed a qualified lead. In other words, SQLs are consumers that your sales team would most likely want to pitch to 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 (SQLs)
To convert an 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
- Chat with 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.
Bonus Read: Sales Pitch Deck Examples (Plus Guidelines)
6. Marketing qualified leads (MQLs)
An MQL is someone who has taken the next step after viewing your marketing messages, and they usually meet specific criteria set by your marketing team.
For example, an MQL might click on your ad on social media and read your blog posts. They generally have a basic awareness of your brand but might not be ready to make a purchase yet,
How to convert marketing qualified leads (MQLs)
You can convert MQLs by:
- Encouraging them to sign up for emails so they can receive more information about your business
- Creating engaging content, like blog posts and guides, that demonstrate your expertise
- Implementing personalized marketing messages that resonate with their interests and needs
Sharing more information about your business and creating helpful content that provides solutions is an excellent way to nurture MQLs and encourage them to convert.
37% of marketers say that generating high-quality leads was one of their biggest challenges.
We want to decrease that percentage.
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Generate and convert different types of sales leads with WebFX
Are you ready to start generating more high-quality leads for your business after reading about the different types of sales leads? The lead generation experts at WebFX can help!
Our lead generation agency has more than 25 years of experience crafting custom lead generation strategies designed to drive leads and boost conversions.
We’ve helped businesses like yours generate more than 7.8 million leads in the past few years. And we can help your company generate more high-quality leads and conversions too so you can reach your sales goals.
Chat with us today by calling 888-601-5359 or contact us online to learn more about how our lead generation services can help your business grow!
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