If you’re a marketer, you know that leads are one of your most important assets. Of course, each marketing team will have a different way of labeling the many types of leads in marketing. However, knowing some of the common types of leads can be good to start with.
What are the Different Types of Leads in Marketing?
Before you can start determining the best ways to help your leads convert, you need to understand the vast array of leads in marketing. Here are five common types of leads that you’ll find in your marketing efforts.
1. The Free Trial User
A free trial user has expressed interest in your product or service and would like to try it out before they make a purchase. This is an excellent opportunity for you to get that person to sign up for a free trial of your product or service. These limited opportunities help your lead to get a feel of what you can do for them. If they find that they enjoy the product/service, they are more likely to convert from lead to customer.
Converting a Free Trial User to a Paying Customer
There are a few different ways that you can convert a free trial user into a paying customer. One way is to offer them a special discount on their first purchase. This will help to motivate them to make that first purchase.
Another way to convert a free trial user is to offer them an added bonus. For example, if they purchase one of your products, you can offer them an additional product at a discount. This will help motivate them to make their purchase and maybe get them to make a second purchase in the future.
2. Information-Qualified Lead (IQL)
An information-qualified lead has filled out a form or signed up for a newsletter, but they are not necessarily interested in your product or service – at least not yet. Instead, they are interested in obtaining more information.
These are individuals searching for something. If they’ve decided that you could be of value to them, they’ll hand over their contact information to gain access to further information.
Converting an IQL into a Customer
This type of lead is the perfect candidate for an educational blog post or a whitepaper. By providing them with more information about your product or service, you can help to educate them and ultimately turn them into paying customers.
3. Sales-Ready Lead (SRL)
A sales-ready lead has already expressed interest in your product or service, and they are just waiting for the opportunity to purchase it. These leads are already aware of what you are offering, and they’re just looking for a way to purchase it.
Converting an SRL into a Customer
The best way to convert a sales-ready lead is to make the purchasing process as simple as possible. In addition, you want to create a seamless customer experience that caters to each person’s needs. This is crucial as personalization can increase marketing ROI by nearly 20% and has been proven to turn first-time buyers into repeat customers.
4. Marketing-Qualified Leads (MQL)
A marketing-qualified lead has shown interest in your product or service, and they have filled out a form to receive more information. They are ready to make a purchase, but they aren’t quite ready to make a purchase right now.
Converting an MQL into a Customer
The best way to convert an MQL into a customer is to nurture them. This will help to build a strong relationship while also helping them to make a purchase. Offer them a discount or free trial to help to encourage them to make a purchase.
5. Sales-Qualified Leads (SQL)
A sales-qualified lead has already expressed interest in your product or service, and they’re ready to make a purchase now. They just need a little bit of help to push them over the edge. These are the leads that you want to cultivate.
Converting an SQL into a Customer
The best way to convert an SQL into a customer is to provide them with the information they need to purchase. Provide them with a coupon or a discount to help to encourage them to make a purchase.
Bonus: Hot, Warm, Cold, and Dead Leads
While the five types of leads in marketing mentioned above are the more technical names you’re likely to come across, it’s more likely that you’ll come across the terms hot leads, warm lead, cold lead, and dead lead.
- Hot Leads: These are leads that are ready to act now. They don’t need more information. They just need someone who can help them complete their purchase.
- Warm Leads: These are leads that have reached out to you (through a form or email, for example) and expressed interest in your product or service.
- Cold Leads: These are leads who have not shown any interest in your product or service, but you have reached out to them.
- Dead Leads: These are leads who may have filled out a form or opted into your email. However, they have zero intention of ever purchasing your product or services.
Get the Right Leads with Hushly’s Lead Quality Assurance
In B2B marketing, a quality lead is ready to act now. They need what you have to offer and are ready to make that transition from lead to a customer with little nurturing needed.
Ensuring that you are focusing your attention on the right leads doesn’t have to be complicated. Instead, focus on only the most qualified leads, thanks to Hushly’s lead verification services.