Quotable vs. Qualified Leads – What’s the Difference?

What’s the difference between a qualified and quotable lead? If you’re feeling a bit confused right now, you’re not alone. Plenty of other marketers use the terms interchangeably. However, learning to focus your campaigns on one and not the other is key to unlocking more value from your budget and growing your ROI.

That’s why today we’re looking at what makes these two terms so different. And most importantly, why understanding that difference matters to marketers like you.

Diffrence Between Qualified & Quotable Leads

Here’s a quick breakdown of the similarities and differences between these terms. We’ll discuss these points in more detail below.

Let’s take a closer look at the definition of these lead types as well as some examples of each.

What Is a Qualified Lead?

A qualified lead is a potential customer who’s met a bit of initial criteria (maybe they’re in your service area) and shown interest in your business’s services. That said, they’re not quite ready to make a purchase or book an appointment.

Maybe they’ve:

• Downloaded an ebook
• Signed up for your newsletter
• Requested a list of services

Now, all these actions are great—they’re obviously engaging with your business. But they don’t really say “I’m ready to buy”. As a result, they may need more nurturing through emails, content marketing, or follow-up outreach first.

Example:

A marketing agency might consider a lead to be qualified if they plug in their email address for a free guide on advertising strategies. There’s interest there, but that action alone doesn’t guarantee they’re ready to talk to sales or make a purchase.

What Is a Quotable Lead?

A quotable lead, on the other hand, is ready to make a purchase decision. They’re highly qualified, want to talk with sales, and are looking for a quote for services. There’s more than just interest here—there’s intent to buy.

Some actions that point to a quotable lead are:

• Booking an appointment
• Asking for a detailed quote
• Contacting sales directly

Put simply, quotable leads are ready to be quoted. And they’re the most valuable leads out there.

Example:

An HVAC company might receive a lead through a form requesting a specific quote for air conditioning repair. The lead has already been vetted, meets the service area criteria, and is actively looking for a service provider.

Qualified vs. Quotable Leads: Which Is the Best Measure of Marketing Success?

While both types of leads are valuable, quotable leads hold a distinct advantage in driving business outcomes. These leads are further along the lead qualification process and deeper in the buyer’s journey. While both lead types show interest in your business, only quotable leads demonstrate a clear intent to buy, making them highly actionable for sales and marketing teams.

By focusing on quotable leads, businesses can align their marketing and sales efforts around opportunities with the highest potential to convert, improving overall efficiency and effectiveness.

Benefits for Sales Teams

• Higher Conversion Rates: Sales teams close deals more often when engaging with quotable leads due to their readiness to buy.
• Shorter Sales Cycles: Since quotable leads are sales-ready, the process of moving them from inquiry to purchase takes significantly less time.
• Streamlined Sales Effort: With less need for education or persuasion, sales teams can focus on meeting customer needs and closing deals.

Benefits for Marketing Teams

• Clearer ROI: By focusing on leads with a higher likelihood to convert, marketing teams can directly measure the impact of their efforts on revenue.
• Improved Resource Allocation: Data-driven insights make it easier to prioritize high-performing campaigns and allocate budgets effectively.
• Better Campaign Optimization: With clear feedback on which campaigns generate quotable leads, marketing strategies can be refined and scaled with greater confidence.

By prioritizing quotable leads, marketing and sales teams can maximize their impact, ensuring that their time and resources are spent where they matter most—on prospects who are ready to become customers.

Quotable Lead Qualification Criteria

Below are some examples of criteria you can use to determine if a lead is quotable or not. Examples are broken down by industry. You’ll also find a quick walkthrough of how to qualify, categorize, and value these leads in WhatConverts.

Home Services Business (HVAC, Plumbing, Lawncare, etc.)

Lead Qualification Process

1. Switch to Qualifier View.
2. Qualify call leads with Lead Analysis and forms with Mapped Fields or form field data.
3. Mark lead as quotable or not.
4. Use Lead Details page to fill out Custom Fields. If quotable, input the requested service ("sprinkler installation"). If non-quotable, input the reason why ("out of service area").
5. Add Quote or Sales Value based on Custom Fields. E.g., if “Requested Service” is "sprinkler installation", Quote Value is $3,000, etc.

Medical Services (Dentistry, Ophthalmology, Veterinary Clinics, etc.)

Lead Qualification Process

1. Switch to Qualifier View.
2. Answer call.
3. Ask questions to qualify the lead and mark Custom Fields appropriately.
4. Mark lead as quotable or not based on criteria.
5. Use Lead Details page to fill out Custom Fields. If quotable, input the requested service ("crown replacement"). If non-quotable, input the reason why ("existing patient").
6. Add Quote or Sales Value based on Custom Fields. E.g., if “Requested Service” is "crown replacement", Quote Value is $1,200, etc.

Professional Services (Law Firms, Real Estate, Finance, etc.)

Lead Qualification Process

This section is handled by the client.

1. Use the Sales Inbox View to sort by which leads need to be followed up on.
2. Mark spam leads in Notes. Look for red flags like legitimate email address and name. If spam, leave “Invalid - Spam” in Notes and mark as Not Quotable.
3. Contact legitimate lead. If they respond – say “contact made” in Note. If they don’t respond – say “no response” in Notes.
4. Add notes about requested service.
5. Mark lead as quotable or not.

This section is handled by the agency.

1. Use the Qualifier View.
2. Use sales rep notes to fill out Custom Fields: Spam, Responded When Contacted, Requested Service (e.g., living trust).
3. Add Quote or Sales Value based on Custom Fields. E.g., if “Requested Service” is "living trust", Quote Value is $4,000, etc.

Tips for Marketers

Here are a few tips aimed at helping marketers grow their ROI by targeting more quotable leads.

• Focus on Intent-Driven Marketing: Create campaigns that encourage actions signaling strong intent, like booking consultations or requesting assessments.
• Prioritize Lead Qualification Tools: Use tools like WhatConverts to identify and prioritize quotable leads efficiently.
• Align Marketing and Sales Efforts: Ensure that marketing strategies are designed to generate leads that meet the sales team's criteria for quotable readiness.
• Refine Nurturing Strategies for Qualified Leads: Develop content and workflows that nurture broader, less defined leads into quotable ones.

Wrapping Up

Understanding the difference between quotable and qualified leads is vital for marketers. But it’s just the first step. You also need to know how to target quotable leads over qualified ones. Because if you can do that, you can use your budget more effectively, speak to the people most ready to buy, and (of course) maximize your ROI. And WhatConverts helps you do just that.

Ready to bring in more quotable leads? Start your 14-day free trial of WhatConverts today!