Lead quantity vs lead quality—What’s better?
05 November 2019
To understand what type of leads you need, you first need to know what a lead is. In the simplest terms, a lead is someone who expresses interest in what you’re selling.
There are a lot of different ways you can collect leads—and the ways that you collect them often depend on your business. You can collect leads on your website by asking for email addresses. You can gate content, and ask for a name or an email address to download which will help you collect leads. You can make cold phone calls. You can create subscription lists for blogs or newsletters. All of these are different methods of connecting with prospective customers, and in turn collecting leads.
In an industry like real estate, identifying leads is fairly straightforward. If someone is interested in learning more about a property, they instantly become a lead. But for something like an eCommerce business, there are many avenues to become a lead. A prospect can add something to their cart, and then abandon it. They can visit your website and leave without making a purchase. They can join your mailing list. With new technology, you can even generate leads using text messages or chat bots.
No matter how someone becomes a lead, it’s critical that as a business you have a marketing strategy for how to manage leads and move them through the sales funnel. When it comes to lead quality versus lead quality, one isn’t better than the other—what you really need is a strong mix of both. By increasing the number of leads you bring in, you’re increasing the chances of selling—it’s a numbers game. But by increasing the quality of the leads you bring in, you’re more likely to sell. A quality lead means you’re closer to closing the deal. By creating a diverse mix of quality and quantity, you help set yourself up for both short-term and long-term success.
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