You will have heard the terms cold lead, Warm Lead and Qualified Lead or maybe even red hot buyer leads. If you are new to marketing and wanting to generate some traffic to your website, then I can fully understand why it can be a little overwhelming.
Fear not I am going to break this down for you without the Nonsense.
We have all experienced a cold call at some point in our lives. An example of a cold call would be a loan or credit card company calling you out of the blue trying to get you to sign up for one of their credit cards or take a new special offer loan out. You never asked them to call you or showed any interest in their services...And were probably a little angry at them for calling you in the middle of your dinner or even late in the evening during your childrens bedtime routine right?.
A cold lead isn't always that bad, you can find cold leads on Social Media spaces for instance, you may have noticed someone asking for help in a group somewhere so you add them as a friend and reach out to them.
A warm lead is someone who has shown an interest in your product or service by actually following you or your company for some time on social media or opting in to your email list. They can also be a friend or previous client from an old business. So as you can see already these types of leads are much more valuable than cold leads, but they are still only contact details to you of someone who is "interested but wants to learn more".
I much prefer calling these "Qualified leads" rather than hot leads because you will have done a bit of work to get these leads meaning you have qualified them through your marketing efforts. These are the best types of leads because they are at the buying stage. For instance, if someone is looking for a specific product or service on google with credit card in hand ready to pay the best price and they see your website, this automatically qualifies them.
However, there are still different stages or levels of qualified leads, for example:
- Does the lead have enough money to buy your product?
- Can they purchase right now or do they need to go through another process of yours?
- Do you 100% have the solution to their problem?
- They say that they are ready but will it be now or later?
Despite these levels of qualification, they are still your qualified lead and they are very unlikely to go elsewhere or ignore your messages, so dont let them "cool down".
Do you currently have a warm lead you need help converting ? Or do you still have some questions about the difference between Cold, warm and qualified leads?