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bhanu challengebhanu challenge 

plz any one answer it

In Lead  plz explain about Rating : hot ;cold;warm
Best Answer chosen by bhanu challenge
nagendra 6989nagendra 6989
HI bhanu challenge,

As you want to understand the concept of different types of ratings in leads please go through the below explanation 

Rating HOT :

Yes, it’s a Lead! This type of a qualified lead that meets all the required criteria which most of time is set. So how to know if it’s a hot lead, apply the BANT lead qualifying system.

B is for Budget – The prospect has set or prepared a budget and is just ready for disposal at anytime a project proposal is approved by the management.
Qualifying questions for this criterion would be: Do you have a budget? How much is your budget? Are you willing to expend? What is your budget range?

A for Authority – The contact person you speak to could either be the Person In charge, or the Recommender. He should have the final word to either say “yes” or “no” to the proposal.
Qualifying questions are: Are you the person in charge/recommender on this project? What is your role on this? Do you solely make decision on this?

N is for Need – Need would always top the set of qualifying questions in a telemarketing script. When a need from the prospect is identified, this sends a signal of a brewing lead.
Qualifying questions maybe as follows: Are you looking into this type of product/service to improve your process? What product/service are you currently using? Have you encountered any issue? Are there any initiatives from your company to evaluate/replace your current system? What functionalities are you looking at?

T is for Time frame – The point period from the time you spoke with the prospect to the planned or projected period of purchase or implementation of the new product or service.
Most qualifying questions would be: When do you plan to purchase? When do you plan to implement the new system.
Read more at http://www.business2community.com/sales-management/classification-sales-leads-hot-warm-cold-01336258#PJl2MfD1VEeX90Vh.99

Rating WARM : 

This qualified lead misses 1 or 2 criteria. But what makes it bagged the qualifying scale is that a Need was identified and the other 1 or 2 qualified criteria should be able to support the first. In most cases, the disqualifiers would either be Budget or Time frame.
But don’t get easily discouraged, these leads are not wasted.  They could still be nurtured and you might be surprise in due time they’ll be contacting you again.

Rating COLD : 

A qualified cold lead has 2 or 3 disqualifiers and the remaining qualifier would be supported by the prospects agreement to take a look or compare set ups between their current system and yours. This is the kind of lead which most of the time is set to KIV (kept in view), and further nurturing is needed. Business success is not achieved overnight. It takes time, effort, tools, skills and strategies to be able to reach your target results.

Please let me know if it helps you..............

Thanks & Regards
Nagendra.P
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