Great comments on my previous blog post–worth a blog post in its own right, so here are my responses:

Bruce said: I was going to start my comment with the thought that the Perfect Lead definition would change depending on what is being sold. After some reflection however, I believe the definition could apply across the board:

Expression of Need
Capacity to Buy
Motivating Factor
Impediments to Closure

Thoughts?

Response: Great viewpoint. Also I think budget is a major indicator or it might be included in your “Impediment to Closure.”

Douglas Speer said: Recent global economic events have proven the Peter Principle to be true. There is not a company or organization that is not the perfect target. We got where we are because of a lack of foresight. Business was in the hands of those who did not know what they were doing in the long run and taking what they could when they could.

All companies have a problem! All company’s key people are looking for problem solvers to solve challenges that they, themselves, have no idea how to approach or indeed even know exist.

Determine the key challenge and need and go forward from that point.

If you know what you are doing, what your product does, how it fits into organizations, how it cuts through and gets to the root of the problem and ultimately benefit the company; you’re going to succeed.

Response: Doug, if I read you right you are suggesting that the offering you propose should be researched and positioned as a solution to the customers challenge and in this I completely agree. During these tough economic times companies are all jumping hurdles to meet their numbers and corporate expectations. The only way to close business will be to match a challenge to a solution and deliver a solid ROI.

George Flesch said: Knowing your product and being able to talk to the right person, targeting their needs, and having confidence in being able to improve their rate of success, is the KEY> Chuck, your the right person at the right time with the right product. You will succeed.

Response: George, thanks for the endorsement and your wisdom. I see a common pattern forming and it’s screaming out loud that we all need to ensure we are speaking to the right decision maker; focusing on their need(s); being comfortable that what we will sell will meet that need; that the end-result is a solution to a challenge and an ROI.

George Vettath said: Here is the perfect lead:

Customer calls you (no cost)
Tells you he wants to buy your product (no expert needed)
Buys it on his own using his card/ wire (no processing cost)
Self delivered (no making cost)

To get there their is a whole lot of ground work. Reality - minimize all the above to close to zero - how??

Response: George I’m not sure that what you describe isn’t considered the perfect customer. Your last line about “getting there is a whole lot of groundwork” is accurate. George there is a lot of ways to accomplish the ground work.  Well focused PR, for example, may just be the vehicle that delivers what you describe in the above.I recommend not using a PR firm–you have more chance of getting coverage by doing it yourself and by focusing the PR. Just pick a worthy subject and market focus. One that delivers you those customers you describe in the above.   For example if you offer Virtual Trade Shows, you represent a solution to a challenge of the times. Today in the USA travel budgets have been slashed to bare essential travel,  SAP’s “Sapphire” (major user conference) just experienced a 30+% drop in attendance so they conducted their Analyst briefings virtually.This tells us that the trend is heading towards ‘Virtual Trade Shows. Therefore, PR topics like:  “Virtual Trade Shows Growing in Popularity –address travel cut backs,” “Traditional Trade Shows being replaced by Virtual Trade Shows,” etc. George this will surely deliver in bound inquiries just as you describe in the above…and then they become perfect customers.

Jason Green said: The perfect lead, huh? A prospect where, if implementation is successful, your solution becomes the de-facto standard for your adressable market. Nirvana for me…

Response: Jason if it’s Nirvana for you then it works for me as well. I guess my focus is on the Prospect. How did you get the prospect and what criteria did you place on the prospect that enables you to get the implementation.

Srinivas Pannala said: Taking the perspective of what the “perfect lead” means to me, perfect lead would simply be the one that is definite to close with my current suite of offerings and in turn would imply: The lead is sure to close, will close ‘quickly’, I shouldn’t overstretch to deliver, and I will make money on it).

Response: Srinivas, well stated. In a perfect world this is the perfect solution to close cost efficient business, however our group focus is on figuring out together what is (and how) you get the perfect lead. How you presently achieve this ultimate situation and these criteria determine whether you have this perfect candidate.

Daniel Dupont said: The perfect lead should be defined by the potential of the opportunity regardless of the result.   It’s the one that has recognized his need, has the will to satisfy that need and the budget on hand to do it. Then, begin the sales process.

Do I believe I have what it takes to fulfill this customer’s need?
If so, do I know how to get my message across efficiently?
Can I create enough trust and comfort so the lead knows he can rely on me and my company, can I show my understanding of his need and my ability to deliver? Do I ask for the order…?
Do I foresee and/or efficiently overcome objections?
The perfect Lead is not the one you close, the perfect Lead is the one that represents a real opportunity to sell. The rest is Salesmanship and is not by definition on the customer’s side.

Response: Daniel, I agree and disagree with your view point. “The perfect lead should be defined by the potential of the opportunity (agree) regardless of the result” (disagree- if you do not close the perfect lead then the lead is not perfect).

“It’s the one that has recognized his need, has the will to satisfy that need and the budget on hand to do it. Then, begin the sales process.” These are good criteria for the perfect lead.

“Do I believe I have what it takes to fulfill this customer’s need? If so, do I know how to get my message across efficiently?Can I create enough trust and comfort so the lead knows he can rely on me and my company, can I show my understanding of his need and my ability to deliver. Do I ask for the order…? Do I foresee and/or efficiently overcome objections?” Daniel this is all about your qualifications as a salesperson and has little to do with the “Perfect Lead”

“The perfect Lead is not the one you close, the perfect Lead is the one that represents a real opportunity to sell.” Well, here is where I disagree but perhaps others may agree with you. To me the Perfect lead is the one you close! If you are a good sales person then it is up to you to continue the relationship by up- and cross-selling.

Steve Marshall Cohen said:  I would rather define perfect lead-closer than to define the perfect lead. The perfect lead closer has been the subject of many of my lectures and seminars throughout my long career. The lead closer knows every lead, no matter how “perfect” represents the buyers “explicit” needs, but that there is great value and a longer-term relationship based on the buyers “implicit” or vaguely-defined needs. The perfect lead-closer knows to make the implicit explicit and thus obtain a much larger engagement and a longer term relationship.

Response: Steve, very well stated.

Phyllis Kaffko said: Chuck, I know you are going to enjoy doing this, be great at it and have very satisfied following.A perfect lead is a smart and successful salesman/woman’. A smart salesman/woman will always recognize very quickly a good opportunity, product and deal. If that person has absolutely no need for your product at that time, then they will probably know someone who does and will almost start off the sale for you.

Response: Phyllis, thanks for your words of encouragement. Having every ones feedback is really putting a lot of great perspectives into play.  Your placing emphasis on the salesperson as the “Perfect Lead” has some merit as I see where you are going with this. To me however you’re describing the Perfect Salesperson. Now put the perfect Lead into the hands of the perfect salesperson and you have a winning formula.

Paul Haddad said: The perfect Lead: You can only find out if your lead was perfect years after you closed the sale. And years after the sale is closed you can no longer call it a “lead”. Therefore, the perfect lead doesn’t exist. I would rename the perfect lead to a strong lead. I believe all leads are the “perfect opportunity”. Once a sale is finalized it is only the beginning of a partnership between you and the client. You must not only deliver the product as promised- the product should become the perfect investment. If you don’t deliver as mentioned above, the strong lead becomes a perfect disaster as it will potentially destroy new leads.

As you all know, “A satisfied customer will have little to say about your business while an irate or unfulfilled customer will let 10 friends know how your company/business screwed up.

The proof lies within the American auto industry. They had a ridiculous amount of strong leads which resulted into sales however years later they are trying to dodge a disastrous hurricane that they created. (The perfectionists at lead destruction)

And YES, a strong lead is one that can potentially bring high profit margins however I believe it goes much further than that.

Response: Paul a solid perspective and good point of view although I would make the case that once you’ve sold a Perfect Lead it is no longer a lead but a customer. A good salesperson will always ensure that the customer is well served and this includes solid follow-up (the salesperson being on top of their customer’s firm, its industry segment, their challenges for growth, acquisitions, their adjusted needs/requirements, your potential to up sell/cross sell, customer surveys etc.)…

Philippe Lafortune said: The Perfect Lead, or Not “too” Perfect Lead, that is the question.
The perfect lead for me would be a individual who has done the necessary first level research about what he wants, has a very good idea about how to acquire it, compared his needs with what’s currently available on the market and had shopped around to figured out its true value and current cost to aquire it; he is now ready to seek for a specialist in the business and either he has found me or I have found him to help him make the right decision, to confirm his thoughts and learn more about his options, to help him feel secure about his new acquisition when signing and for the long run and mostly to make his purchase the most satisfying and rewarding experience for either a personal or professional gain.

That’s it.. the rest is up to me to make this come thru and make sure he realize that I am part of the equation for his gain which will help me secure more business later, gain his trust and to get more business thru his contacts.

Response: Love it Philippe! So a Perfect Lead to you is someone who knows what they want and has the mandate to pursue and acquire it, therefore when the buyer encounters you as a sales specialist, you will not be wasting your valueable time. Works for me.

Chris said: The perfect lead must have access to the executive who not only has budget but has the authority to use and release the budget.

Response: Agreed. I think you mean a Perfect lead has the budget and authority to make the purchase–excellent.

John Goode said: I recently had lunch with a very successful VAR in Australia. He described to me, the perfect deal…
a) level playing field, all four shortlisted vendors found out about the opportunity at roughly the same time
b) his sales teams are vertically focused, they met the prospect and were able to establish credibility quickly, as they could relate to the prospect
c) listened to the prospect
d) offered sample business processes designed for the prospects vertical
e) attended the same vendor briefing as their competitors, but saw their business processes highlighted on the PowerPoint, with prospects name written all over them
f) as the others were frantically filling in the RFP, they offered data conversion processes/scenarios to the prospect, as the RFP mirrored their business processes it was very easy to respond and they focused on adding more value to the ‘internal’ processes that would eventuate after selecting a vendor, again providing more vendor neutral information that any project manager either has or needs to have to be successful
g) always staying one step ahead of the competition, they focused on furthering their relationship with the CEO and CFO by researching the individuals and talking to people that knew them
h) achieved a quick order for a pilot six weeks before their close of their fiscal year, whereas the other vendors were writing ‘lost’ sales report

So its not the lead per se, but what you do with the information compared to your competition, it’s the art of selling.

Response: Now this is a perfect example of taking a lead and having the tenacity to develop the Lead into a Perfect Lead and through excellent sales functions, closing them. Say no more.

Thanks to all for your solid reponses… keep them coming!