English
Lead Qualification: Readiness, Willingness, and Capability
lead❓ qualification assesses a lead’s readiness, willingness, and ability. Readiness refers to the timing of the lead’s intent to transact, governed by external (market conditions) and internal (personal circumstances) factors. The Transtheoretical Model (TTM) describes stages: precontemplation, contemplation, preparation, action, and maintenance. temporal❓ discounting explains how individuals value❓❓ rewards based on when they are received: V = A / (1 + kD), where V is subjective value, A is actual value, k is discounting rate, and D is delay. A controlled experiment can assess readiness through questioning.
Willingness refers to the lead’s intrinsic motivation. Self-Determination Theory (SDT) posits motivation through autonomy, competence, and relatedness. Expectancy Theory states: M = E x I x V, where M is motivation, E is expectancy, I is instrumentality, and V is valence. Prospect Theory suggests decisions are based on potential gains and losses.
Ability refers to the lead’s financial capacity. Debt-to-Income Ratio (DTI) is calculated as: DTI = Total Monthly Debt Payments / Gross Monthly Income. Loan-to-Value Ratio (LTV) is: LTV = Loan Amount / Appraised Value. Machine learning can be used to build a predictive model.
A qualification matrix categorizes leads❓ based on readiness, willingness, and ability. Adaptive strategies should be implemented based on the lead’s profile.
Chapter Summary
lead❓❓ qualification assesses potential clients based❓ on Readiness, Willingness, and Ability. Readiness refers to the lead’s transaction timeline, evaluating their current situation and aligning it with typical process timeframes. Willingness gauges the lead’s motivation❓ and openness, uncovering concerns, addressing objections, and understanding❓ their commitment. Ability refers to the lead’s financial❓ capacity and resources, determining their price range, understanding financial constraints, and assessing access to resources. Effective qualification prioritizes leads❓ with higher conversion likelihood, optimizes resource allocation, and tailors communication. Failure to qualify leads wastes time/resources and reduces conversion rates.
