What is a warm lead and how does it all work?
A warm lead can be define from the word itself. Warm means positive, closeness, good contact and safety. Good example is from a children’s game, where one kid hides something and another one has to find it. When the kid is getting closer to the object they are looking for, they say “warm,” if not then “cold.” Therefore we can say that a warm lead is someone who is ready to close a deal. A cold lead is exactly the opposite. Meaning you are far away from closing a deal or finding a lead and there is a rather long way to go until the cold lead turns into a warm one.
What does it mean in sales?
Sales activities are set in place to get from point A to point B, where point B stands for a successful deal or sales. To get to point B there are many different possibilities and channels. We have already mentioned some of the most common sales channels in this post: sales channels. Sales channels create a way which can be either easy or hard. Surely most salespeople would choose the easy way. This way you have to put in less effort to achieve the same results compared to doing it the hard way. The key component in an easy way is a warm lead. A warm lead is an icebreaker, conqueror of the first barrier, remover of the first filter – you have quickly made a way to a point, where otherwise it would take a long way to get to. Figuratively you got to take an elevator straight to the top of a skyscraper by just pressing one button, while your competitors have to take the stairs instead.
The most common channels to obtain a warm lead starting from the warmest and ending with the coldest:
- Recommendations – a friend, a partner, a relative, a client, a competitor or whoever recommends you as someone who sells great products or services
- A current client – they know you and you have already established a relationship
- Re-marketing – a person who has seen your brand somewhere and knows something about you. This could happen through newsletters, advertising campaigns, website, social media.
LeadFellow is focusing on the first channel – recommendations. Refer someone through our software and control and monitor your best salesman for basically pennies!