How Are Cold, Warm And Hot Leads Engaged With Differently?

Winter is a very odd season for telemarketing, as the focus of many businesses is on consolidating, finishing anything that can be done at the end of the year and beginning to prepare for the year ahead.

This is particularly true for a specialist field such as life sciences, as some of this work will involve taking stock of the tools and services available and seeing what else is required for product development, research or expansion.

This means that many leads will act somewhat differently in December and the lead up to the financial new year in April than they would the rest of the year. Hot leads can cool down, whilst warm leads can be less engaged with other priorities.

In a specialist field, every lead matters, which means that each potential customer should be navigated differently.

To do so, we first need to understand the difference between hot and cold leads, and why marketing teams will take very different, personalised approaches to each.

What Are Hot Vs Cold Leads?

The temperature of leads has nothing to do with temperature, but it is fitting that the engagement of many prospective customers tends to dip around the time of the winter solstice before growing again, along with the first flush of spring.

The heat of a lead is a measure of engagement, as there is a correlation with awareness of your brand, interest in products, services or industry field, and the willingness to buy if able. Different types of leads require different marketing approaches.

What Are Hot Leads?

Hot leads are leads who are clearly intending to convert into buyers, subscribers or clients of your service.

They have an issue, have been searching for a solution, are aware of what you can offer and have a clear belief that you can meet their needs.

They are also in a position to convert, meaning that they have the decision-making power and budget to broadly go ahead with a sale.

There is a lot of enthusiasm on the side of both the customer and the marketing team, and the approach the latter should take is to provide any information, address any detailed comments or concerns and ultimately close the sale.

What Are Cold Leads?

By contrast, cold leads could potentially become customers, but whilst they fit many parts of your customer profile, they have never interacted with your company and may not have any knowledge of your brand at all.

Cold leads need to be nurtured much more slowly, with a focus on bringing them into the wider conversation, identifying what they need and what pain points they are currently facing, as well as ensuring that they feel valued and welcomed into the sector.

What Are Warm Leads?

Whilst it is easy to see leads as either interested or uninterested, the reality is that there is far more of a spectrum, with many customers more or less willing to buy depending on particular circumstances.

Warm leads tend to vary in levels of interest, but they have a working awareness of your brand, may have already engaged in the past and would be willing to engage in further marketing efforts, but they are not ready to buy yet.

Either they are hot leads who have had to disengage temporarily or cold leads that have become slightly more interested in what your business has to offer.

The key is to build trust, demonstrate the value of your brand and company beyond your product line, and explore potential situations where a tailored offer or deal could lead to a conversion.

Key Takeaways

• Hot leads are engaged, receptive and aware of your brand.
• Cold leads potentially fit your customer profile but have never interacted with the brand before.
• Warm leads have interacted and are aware of your company, but need further nurturing.

What Other Types Of Marketing Leads Are There?

There are other ways to look at prospects besides hot and cold leads, however. Qualified leads are a good fit and are receptive to nurturing, but exactly how close they are to buying depends on the stage in the marketing funnel they have reached.

Some have engaged with lead generation campaigns in exchange for case studies, reports, eBooks or webinar sessions, others have engaged with a range of marketing campaigns, whilst others still are ready to be engaged by the direct sales team.

The 3 Types Of Qualified Leads

• Information-qualified leads are interested in learning more but are not always ready to convert into customers.
• Marketing-qualified leads are more engaged and are interested in your company broadly, but need further nurturing.
• Sales-qualified leads are ideal customers who are ready to be engaged with more directly.