Identify the potential leads and junk leads in your CRM

The leads that come into your CRM need to be assessed to determine if they are potential clients. Several ways are there to go about this, it’s important to be consistent in your process. In this blog post, you’ll learn – How to identify potential and junk leads and the benefits of doing it.

How to identify potential leads?

Most businesses use some kind of CRM software to track their leads and customers. However, with so many leads coming in from various sources, it can be difficult to determine which ones are potential customers.

Follow the below tips to identify the potential leads:

• Look for leads that match your target audience.

If you have a good idea of your target audience, you can narrow down your list of potential leads. First, look for leads that match the demographics of your target audience, such as age, gender, location, and interests.

• Look for leads that are actively engaged.

A good way to identify potential leads is to look for those actively engaged with your brand. These leads are opening and clicking on your emails, visiting your website, and interacting with your social media posts. These leads are more likely to be interested in your product or service and are more likely to convert into customers.

• Look for leads that have a high lead score.

If you’re using a CRM that has a lead-scoring feature, take advantage of it! A lead’s score is based on their behavior and how likely they are to convert into customers. So the higher the score, the more likely the lead is to convert.

• Look for leads that have been contacted recently.

If you know that your product or service is not cheap, you’ll want to ensure that the leads you’re contacting have a budget. You can usually find this information in the lead’s contact record.

Benefits of identifying potential leads

The benefits of identifying potential leads are many and varied. The obvious benefit perhaps is that it allows you to focus your marketing and sales efforts on those leads that are likely to be converted into paying customers. This saves time and money and means you can close more deals and ultimately grow your business more quickly.

In addition, by understanding which leads are most likely to convert, you can tailor your sales and marketing messages to appeal to them more effectively. This can result in higher conversion rates and more customers.

Finally, by identifying potential leads early on, stay one step ahead of your competitors and ensure that you are the first company to make contact and build a relationship with them. This gives you a significant advantage in the sales process.

How to identify junk leads?

While it is important to have a process in place to follow up with every lead, it is also important to identify which leads are potential customers and which are simply junk leads. By identifying junk leads, you can save yourself a lot of time and energy that would otherwise be wasted on leads that will never convert. Not to mention, bad data cost over $3 trillion per year in the U.S. alone.

Below are the tips on how to identify junk leads in your CRM:

• Look for leads that have been inactive for a long time.

If you have a lead that has been in your CRM for months or even years without any activity, chances are that this lead is no longer interested in your product or service. While keeping leads in your CRM in case they become active again, it is also critical to know when to let it go.

• Look for leads with incomplete information.

If a lead has incomplete information, such as a missing phone number or email address, likely, this lead is not serious about your product or service. Incomplete information can also signify that the lead was generated through an automated process, which is another red flag.

• Look for leads who are not a good fit for your product or service.

Suppose you sell a product or service targeted at a specific industry or demographic. In that case, it is important to ensure that your leads are also in that industry or demographic. If you have a lead that is not a good fit for your product or service, likely, this lead will never convert.

• Look for duplicate data in your database.

Businesses use multiple sources to generate leads, like email marketing, social media, landing pages, direct mail, etc. Hence, there are always chances to get duplicate leads in the system. In addition, multiple salespeople risk wasting their time and resources to nurture and follow the same person. In this case, businesses should use a lead deduplication tool to fight duplicate leads.

Benefits of identifying junk leads

Junk leads are leads that are either unqualified or uninterested in your product or service. They may be people who are not in your target market or people who do not need your product. And if that’s the case, there’s no point in running after them.

The benefits of identifying junk leads:

• You save time by not pursuing leads that are not a good fit for your business.
• Identifying junk leads saves money by not wasting marketing resources on leads that never convert.
• You can improve your conversion rate by only pursuing more likely lead converts.

Summary

Identifying potential leads and junk leads in your CRM can be daunting, but it’s important to do so to make the most of your time and resources. Using the tips in this article, you should quickly and easily identify which leads are worth pursuing and which aren’t worth your time.