Updated: Mar 26
Qualified leads are potential customers who have demonstrated a high level of interest in a company's product or service and have been vetted to determine their likelihood of becoming a paying customer. One of the benefit of the Metal Pros instant quoting tool was to generate qualified leads. There are several benefits to focusing on qualified leads:
Increased conversion rates:
Qualified leads are more likely to convert into paying customers than unqualified leads. By focusing on qualified leads, companies can improve their conversion rates and generate more revenue. In the metal industry as a whole, about 40% of quotes turn into orders. Of the Metal Pros customers that submitted quote requests through the quoting tool, 70% of RFQs turned into orders.
Reduced sales cycle:
Because qualified leads have already shown an interest in the company's product or service, the sales cycle can be shorter and more efficient. This can save time and resources for the sales team. For a typical quote request submitted from the quoting tool, it would take a sales representative less than one minute to generate and submit an official quote.
Improved customer targeting:
By focusing on qualified leads, companies can better target their marketing and sales efforts. This can help to maximize the effectiveness of these efforts and improve the overall return on investment. Because of the high engagement of the customer with the quoting tool, and the subsequent high visibility of metalpros.com in search engines like Google Search, Metal Pros requires no additional marketing and sales effort in order to attract customers.
Higher customer lifetime value:
Qualified leads are more likely to become loyal customers and make repeat purchases over time. This can result in a higher customer lifetime value, which is a key metric for many businesses. Since Metal Pros top customer started using our quoting tool 1.5 years ago, sales almost doubled. In the last year, our top customer visited our website 758 times.
Overall, focusing on qualified leads can help companies to improve their sales efficiency, increase revenue, and build a strong customer base. Since starting to use our quoting tool 3 years ago, revenues from our top customer more than tripled.