Getting a qualified lead from your marketing campaigns in Singapore is a tall order but it is possible. A qualification strategy to help you differentiate between the qualified leads and the not-ready leads is the first step to getting this right.
Most of the successful digital marketers and companies in Singapore qualify leads using three different categories namely:
- Marketing-Qualified Leads: The potential customer has already shown a certain degree of interest in the product/service. This tells the marketing team that this is a genuine lead.
- Sales-Accepted Leads: The sales team accepts the lead as qualified and agrees to take the next step to trigger conversion.
- Sales-Qualified Leads: Leads who fall in this category have passed the qualification process put in place by the sales team, and are transitioning into the opportunity stage.
Defining a Qualified Lead in Singapore
The qualified lead definition is the phase or point in the marketing funnel that determines that a lead is ready to be handed over to the sales team. The sales and marketing team have to work in tandem. Otherwise, working using different playbooks will lower the chances of the lead converting. Here are seven steps that you should always take to define a qualified lead.
Step 1: Agree on the Definition of a Marketing-Qualified Lead
As mentioned in the previous paragraph, the sales and marketing teams have to work together. The two need to agree on the definition of a marketing-qualified lead to make the process of conversion smooth. Unless you take the time to create a clear definition and buy-in from both teams, the MQL stage will not be of many benefits to your Singapore business.
Stage 2: Leverage Buyer Personas at the Starting point
Buyers’ personas will help you to determine the target audience accurately. Reference the target buyers’ personas in regards to their profile attributes and buying cycle.
Stage 3: Gather Feedback from Sales Team
When defining what a qualified lead is, it is imperative to organise meetings with the sales team and ask them what they consider a qualified lead. Go the extra mile and ask them which types of leads are the easiest for them to call into and qualify. The main objective of having this meeting with the sales team is to come up with a lead definition that the sales team can comfortably work with.
Stage 4: Determine Demographic Qualification Factors
Pick factors that you feel are well represented in your existing customer base. Some of the common demographic factors used in Singapore digital marketing include location, company size, industry, and buyer’s role. Feel free to omit or use more factors that are relevant to your niche and objectives.
Stage 5: Behavioural Qualification Information
The beauty of digital marketing is that prospects leave behind digital footprints that you they are interested in a product or service. In some instances, you can use the footprints to know how urgent the prospects need the product.
For example, attending certain webinars and downloading whitepapers are signs that the leads are almost making the decision to buy. Website visitors who spend a given amount of time on the pricing page then visit it frequently over the course of the day or two is a sign of urgency.
Some of the companies have an ingenious “Would you like to be contacted by our sales team” check box on the registration form to make it easy for the lead to self-identify and specific if they are read to speak with the sales personnel.
Stage 6: Can the Marketing Campaign Deliver Substantial Qualified Leads
If the qualification requirements/parameters are too narrow, the marketing team will have a challenge supplying sales without enough leads from the existing clientele base to fill the pipeline. Again, the sales and marketing team need to agree on the qualification parameters. The sales team will have to make do with a broader MQL definition to get enough qualified leads to keep the company moving in the right direction.
Stage 7: Review the Definition of a Qualified Lead Quarterly
Singapore digital marketing industry is dynamic. Changes in the market can call for new strategies, therefore, the marketing and sales team need to meet quarterly to review the definition of a qualified lead. For example, if you are launching a new product or service, you might be able to connect with a new segment of potential customers if you adjust your marketing strategy.
Now that you know how to go about defining qualified leads, let us move on and look at how to grow this type of qualified leads in Singapore.
How to Grow Qualified Leads in Singapore
Qualified leads will help you to crush your competitors and generate more revenue. Both inbound and outbound marketing strategies can help you achieve this goal. Here are proven strategies on how to grow qualified leads in Singapore.
1# Request for Referrals from Customers
Existing customers who are contented with what your brand offers can refer you to family members and peers who they know might be in need of the same service or product. When is the last time you engaged your customers? Ask them if the product/service rendered meet their expectations by sending a short survey via email. Towards the end of the survey, add a “Would you refer our product to a friend?” checkbox.
Respond to every customer who takes the time to fill the survey. This will show them that you care about their feelings towards your brand. Go an extra mile and create a custom message for ones who say they will refer a friend to motivate them to do that.
2# Reward Employees for Bring in Qualified Leads
As mentioned earlier, getting qualified leads is not easy. Do not underestimate the collective network that your employees have and the potent power it can have on your brand. Give them incentives to bring in qualified leads by rewarding them when they do that. A simple gift that is valuable or a referral bonus will encourage them to continue marketing your brand through their network.
3# Integrate Offline and Online Marketing Processes
In the current modern era, it is easy to be lured to focus more on online marketing. Offline marketing is still powerful and can complement your other marketing strategies. Create time in your busy schedule to attend conferences, tradeshows, workshops, and even networking events to connect with other industry players. In the process, you will not only learn new tactics that you can implement in your business but also connect with potential customers.
Exchange email addresses and business cards with them to establish a relationship. If you are lucky, some of them will later on visit your website and either convert or subscribe to your email listing. Even if they do not convert immediately, you will get more chances to convince them to do so through the connection you establish.
4# Leverage Thank you Pages
Thank you pages will help you appreciate the potential customers who opt in for a lead magnet. Through these pages, you can ask them to take another specific desired action politely. This segment of customers is more likely to take that action whether it is sign up for a free consultation session or watch a webinar. This is because you already convinced them to take a smaller action that is still beneficial to your brand.
5# Lead Scoring
Lead scores will help you to group the qualified leads and come up with custom message for each of them. Once a potential customer is qualified, they should automatically earn a score. Any prospect with a score of above 80 is almost ready to convert and your sales team should reach out to them.
Concisely, leads who have the highest scores match your ideal client profile. Reach out to them to know if they need additional information. The main goal of doing this is to point them in the right direction. Be ready to give them what they need to convert, be it booking an appointment with one of your experts or more information about the product.
6# Lead Magnets Using Facebook Ads
Facebook is one of the most popular social networking sites in Singapore. More than 1.5 million Singaporeans are active on this platform. Using advanced technology, Facebook has made it easier for digital marketers in Singapore to target qualified leads. They use data collected over the years to discover and predict users buying habits.
Data such as hobbies, preferences, and personal information can be used to create laser-targeted Facebook ads for each segment of your target customers. Facebook Insights will come in handy when running the ad campaigns by helping you monitor the performance of each ad independently.
One of the benefits of using Facebook is that it uses passive advertising. That is, it tries to make the ads as natural as possible to avoid interrupting their users. Provide lead magnets to incentivize leads.
Mastering how to define a qualified lead and growing them in Singapore will help your business to get to the next level of success. Use this guide to improve your lead generation strategies. Feel free to also contact us for custom digital marketing strategies in Singapore.