Eric Deeran shows why video agencies get flooded with unqualified leads and how to fix it. Using the BANT framework, he cut his required calls from 185 to 65 per month while increasing revenue, just by gating which leads he sent back to Facebook's algorithm. Stricter qualification means better data training your ads.
The reason I think most video agency owners can't scale is because they're not getting enough qualified leads at scale. And I think a lot of people don't understand what qualified actually means to them. Sorry, I just got out of the gym, so I'm sweaty here. But like, I don't think a lot of people understand exactly what qualified means. And so when we get clients working with us, we have to very clearly define what does a qualified lead actually mean, or what does it actually look like? And so we like to go through a framework called BANT. Stole it from Hormozy, who stole it from IBM, back in the day, they would have a framework called BANT basically to figure out is somebody qualified and it's an acronym. It stands for budget, authority, need, and timing. And so if you can get somebody who has BANT on the phone with you and they're your ideal customer, then you have a higher likelihood of closing that person. But what I think a lot of people don't get or understand when they're running paid ads is they, they settle for like iffy quality leads, which is actually the worst thing you can do on Facebook because then Facebook's going to go find more of those types of people in your ad. Ads, and you're gonna, you're gonna end up paying a lot more for clients or leads that are not really a good fit. And so we've done this previously, and like, I looked at a month's worth of data where we didn't qualify as hard versus a month's worth of data where we qualified really hard. And the month's worth of data where we qualified hard, we hit a certain revenue, but we had to book like 185 calls. And then the month where I qualified a lot harder, I had to book literally 65 calls. So what is that, like 3 times as less? Yeah, like, I think 3 times as less. And hit a higher revenue number than the month where we booked a ton of calls. And the funny thing is, is like the cost per call wasn't really that much more when it was qualified versus when it wasn't qualified. They kind of looked the same. It was just that I was gating what results were going back to the pixel, back to Facebook. And so I wasn't, I basically wasn't sending bad data back to, back to the pixel, back to Facebook. And that's why I think a lot of people's ads don't work as well as they want. And so like, I would think through, like, if you're a video agency and you're saying, hey, I want to go after medical companies, then think through BANT. It's like, okay, well, how much money do they have to make to afford to work with you, right? So let's say that you're charging $5K to $10K a month. Okay, let's say $5K a month. Well, for them to realistically afford you, they probably have to be doing at least $40K to $50K a month as a medical company minimum. And so then, like, your first question should be like, are you a medical company doing at least $40K to $50K a month? Yes or no? And then that's BANT, that's budget, B. And then for authority, that kind of also covers authority because you're also saying like, hey, are you this person? And then for need, I would do some sort of free response question where it's like, why is it important for you to do something like this? Or why are you reaching out to us? And have them type an answer. That's like gonna, that's gonna demonstrate the need that they have. And then finally for timing, I would do something around like, how soon are you looking to make a change or implement a system into your medical company? To get XYZ results ASAP, within a couple of weeks, or not for a couple months, this isn't a priority. Like if you look at our funnel and look at like my lead qualification, when we added that how soon question, it made such a big difference to the people who are coming in because they were actually wanting to do something now. They had the budget to do it. They had, they made enough money and there's a need to do it right now. And they're the right person. If you can get all of those things, you will get more qualified leads and you will close more deals. But a lot of times people don't qualify hard enough. I feel like so hopefully that makes sense. Should be a good takeaway. And we'll see the next one.
