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Insights / Channel Lead Qualification for 2021: Methods, Frameworks & Tools
Channel Lead
Qualification for 2021:
Methods, Frameworks &
Tools
Qualifying complex lead workflows saves time, ensures lead acceptance, and increases close
rates. Without visibility to your channel management workflows, you're flying blind.
May 5, 2021
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Asking the right questions can help organizations sift through endless opportunities to
find the right candidates for their products and services. This is where lead
qualification comes into play.
This article shares the fundamentals of lead qualification, the different frameworks, and
how to leverage the lead management tools for increased conversation rates.
In a nutshell, lead qualification is gathering relevant data that gives clear insights into
whether to focus on building a relationship with a prospect around your products and
services or discard the lead.
For best results, lead qualification (and scoring) should occur before providing the lead
to your partner and having them make contact with prospects. Ideally using an
automated software solution.
It helps you to focus your partner’s energy on activities that have a direct positive
impact on your and their bottom line.
It gives you more insights into your ideal customer’s needs and challenges so that
you can create better products and services.
Lead qualification helps you streamline and concentrate on a smaller and more
specific market segments, to drive the most qualified lead to your channel enabling
you to deliver a more personalized solution instead of wasting valuable resources
on a large non-specific segment of prospects who may not convert.
Most importantly, it also helps you quickly bucket the prospect into the appropriate
level of your funnel and determine when it should ideally go to your partner to
perform their sales pursuit activities.
Qualifying a lead that should be nurtured doesn’t meet your ICP might seem like a harsh
decision, but it is one of the best things you can do for your marketing and your channel
team. It saves you a lot of energy that would have been wasted on trying to convert
prospects that may not be ready to buy, who require nurturing rather than a sales
pursuit.
To qualify a lead, you need to use a combination of enriching the prospect information
with publicly available data and ask open-ended qualifying questions, such as:
1. A need for your product or service: A prospect is potentially highly qualified if they
need what you have to offer. Your marketing team will be barking up the wrong tree if
they spend time focusing on leads with little to no interest in your products and services.
2. A sense of urgency: A prospect that needs your product or service now or shortly
is a more qualified lead than one who has no immediate need for what you have to offer,
even if they trust your brand or company. For example, if you sell products with a five-
year lifespan, someone who bought the product four years ago is a more qualified
lead than a prospect that only purchased the product a year ago.
Lead Qualification Frameworks
A lead qualification framework is a type of rule that sales reps use to determine if a
prospect has a higher chance of becoming a successful customer. These frameworks
include the following:
BANT
BANT is an acronym for Budget, Authority, Need, and Timeline. It is
a lead qualification framework developed by IBM in the 60s and is still relevant today.
BANT qualification is a series of questions designed to gather information on the four key
aspects that the framework covers. These include:
1. Budget: Find out if the prospect can afford your product or service. Here are some
likely questions to uncover information regarding budget:
What does your budget look like for this project?
Do you have enough funding for this project?
2. Authority: Determine who has the final say on buying decisions. Salespersons can
ask:
Is there someone else involved in making the purchase decisions besides you?
Do you expect someone else to object to this purchase? If yes, what’s the best way
around it?
3. Need: Find out if your solution meets the prospect’s needs using questions such as:
What specific business challenges do you have, and how long have you been
seeing them?
Have you addressed this problem before? Do you think this “X” solution is right for
your business?
4. Timeline: Figure out the prospect’s timeline for possible purchase. You can ask:
GPCTBA/C&I
Goals, Plans, Challenges, Timeline, Budget, Authority/Negative Consequences, and
Positive Implications (also known as GPCTBA/C&I for short) is
a lead qualification framework developed by HubSpot to help sales reps provide useful
guidance and value to informed buyers.
Here is what this framework means and the possible questions to use in qualifying leads:
Do you think you can solve this problem by relying only on internal expertise?
Will you be willing to seek external help if your plans are not working?
4. Timeline: Find out if the prospect is willing to commit now or in the future by asking:
Our solution has the potential to bring you “X” dollars annually, but do you have
enough funds allocated for it?
6. Authority: Being the decision-maker is not the goal of determining the authority of
your prospect in the framework. Instead, the goal is to figure out what goes into
the decision-making process. You can ask:
What will be your next move when you solve this problem?
How does hitting this goal or not affect you personally?
CHAMP
Challenge, Authority, Money, Prioritization or CHAMP is a qualification
framework designed by InsightSquared. It puts Challenge first, allowing sales reps to
focus on the needs and problems of the prospect.
The framework enables salespersons to use Authority as a way to go up the ladder until
they reach the decision-maker instead of disqualifying the prospect because they don’t
make the final decision.
MEDDIC
MEDDIC stands for Metrics, Economic Buyer, Decision Criteria, Decision Process, Identify
Pain, Champion. The framework increases the ability of salespersons to forecast with
greater accuracy by understanding all the aspects of a company’s buying process.
ANUM
ANUM stands for Authority, Need, Urgency, and Money. The qualification process is
similar to BRANT, except that it prioritizes authority. That means the salesperson must
first determine if the prospect can take action or is the decision-maker.
Need is also giving higher priority while Urgency in ANUM functions in the same way as
Timing in BRANT. Lastly, Money takes the place of Budget.
Picking the
Right Lead Qualification Framework
for Your Business
There is no one-size-fits-all when it comes to choosing a qualification
framework. BANT is a simple, time-tested method that works. However, a major
drawback of the framework is the failure to include more stakeholders in the decision-
making process. This is also a disadvantage of the ANUM framework.
Also, the Timeline in BANT might cause sales reps to act prematurely and disqualify
prospects who aren’t ready to commit immediately or shortly.
GPCTBA/C&I is an excellent framework but might not be suitable for every team,
especially smaller teams, because of the complex qualification process involved.
MEDDIC is best for when you want to bring about a behavioral transformation. Getting
prospects to buy products with a significantly higher price tag requires this type of
qualification tool.
CHAMP is great if you are trying to focus more on the prospect’s pains and challenges.
However, it can potentially cause a lag in your sales cycle.
Determining Lead Qualification Crite
ria
The lead scoring system will help you properly determine lead qualification. Here are the
three major criteria for determining lead qualification:
Behavioral
Behavior refers to actions that clearly show interest or disinterest in your product or
service. For example, the actions of your site visitors can tell your marketing team a lot
about their level of interest and whether to reach out to them immediately or not.
Demographic
This has to do with your ICP criteria. Prospects who meet these criteria have a
higher lead score, even if they exhibit the same behavior as others who don’t meet your
ICP criteria.
Sales Engagement
From the behavior and demographics, marketing teams will ultimately reach out to
qualified prospects through meetings, conversations, emails, etc. With each successful
contact, the lead score should increase to reflect the interest of the prospect.
Lead Assign’s AI lead management platform comes complete with a built-in dashboard
that gives you an overview of your partners and their sales reps’ activities. The tool
enables you to easily determine which partners and sales reps are making progress and
whose performance is dwindling. You can see missed leads, declined and accepted
leads, as well as the conversion tracking feedback status all at a glance.
With no app download or login required, the tool is easy to use. Your partners do not
need to go through a steep learning curve to use Lead Assign’s lead management tool.
The platform is designed using common digital features that nearly everyone already
uses. These include SMS, email, and a browser.
Request a demo of Lead Assign today to optimize your lead-to-close conversion. With
over 300 Fortune 500 companies choosing Lead Assign as their go-to partner lead
management tool, you know your business is definitely in safe hands.
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