For this reason, these companies are always on the lookout for ways to improve their customer retention rates. They do this by lead qualification frameworks, which help them weed out unqualified leads and focus their energies on prospects that are more likely to convert into paying customers.

So, what is a lead qualification framework? In short, it is a set of criteria that you can use to determine whether or not a lead is worth pursuing.

You can do this through various methods, such as the CAN-AM method or the MEDDIC process discussed below.

The Challenge refers to the prospect’s problem or need. Does the candidate have a challenge that your product or service can help with? If not, then they are not a good lead. The authority refers to the decision-making power of the prospect. Is the prospect someone who has the authority to make a purchase? If not, then they are not a good lead. The timeline refers to the prospect’s timeline for making a purchase. Is the prospect ready to buy now or in the near future? If not, then they are not a good lead.

CAN-AM Method

The CAN-AM method of qualifying leads is a standard tool used in the sales industry. It stands for Capability, Authority, Need, Ability to Pay, and Motivation.

Capability refers to the ability to purchase your product or service. This can be determined by evaluating factors such as the lead’s budget and whether or not your offering is well-suited for their needs.

Authority refers to a lead’s ability to make decisions within their VP Manufacturing Production Email Lists organization. It includes the job title and decision-making authority within the company

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Need refers to a lead’s need for your product or service. It can be determined by evaluating factors such as the business pain they are experiencing and how your offering can address them.

Ability to pay refers to a lead’s ability to budget for your product or service. It is determined by evaluating their price sensitivity and willingness to invest in your offering.

Motivation refers to a lead’s motivation for purchasing your product or service. This can be determined by evaluating factors such as their timeline for making a purchase and the urgency of their need.

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