Have you ever had the feeling that you’re not producing enough leads?
You’re churning out content, putting together landing sites, and tweeting like crazy.
However, you are unable to fill your sales funnel. Alternatively, you could be able to fill your sales funnel, but your conversion rate is terrible.
You are irritated.
And you aren’t the only one who thinks like this. Many marketers are in this situation until they understand the difference between a marketing qualified lead and a sales qualified lead.
Because each lead is unique, you must determine where they are in the sales funnel. You can actually produce more income with fewer leads if you know where your prospects are in their customer journey.
This is why:
- Not every lead you produce will convert into a sale or be a good fit for your product.
- This implies that instead of doing what they do best, selling, your sales force is sifting through dirt looking for gold.
- If you merely increase the number of leads you generate, your sales staff will find more opportunities to close transactions, but they will also find more dirt.
- You’re actually making your sales team less productive by forcing them to look for changes.
Give your sales staff fewer, higher-quality leads to boost their productivity and performance.
How do you know which leads are worth following up on?
Everything begins with marketing.
What is the definition of a sales-qualified lead?
A sales qualified lead is a potential customer who is prepared to speak with a sales representative. This lead has often shown enough interest in your product or service to be ready to move forward in your sales process. They’ve usually been investigated and vetted by your marketing department before being passed on to your sales staff.
MQL vs. SQL
Hand raisers in marketing are qualified leads.
They’ve taken action or done something to show that they’re interested after receiving an inquiry. Simply said, an MQL is a leader who isn’t ready to buy just yet, but will benefit from nurturing.
A sales qualified lead (SQL) is a leader who has progressed further down the funnel in their buyer journey. They have particular queries and are looking for one-on-one attention from your sales team. This is frequently the outcome of marketing nurturing, although they may have entered your sales funnel on their own accord.
Every firm has its own set of standards for what an MQL and SQL should look like. Some businesses regard a SQL to be an inquiry, while others consider it to be a SQL.
Worse, some divisions within a single organization disagree about the differences, resulting in a mismatch between sales and marketing.
Some companies don’t even make a distinction between different criteria. There is no MQL vs. SQL in these firms; simply put, all leads are created equal. We’ll explain why this is doomed from the start.
Qualified Lead Transitioning from Marketing to Sales
It’s vital to concentrate on how MQLs and SQLs generate income. You’ll need solid cooperation between sales and marketing to examine these conversions. Knowing your target market and how they behave can help you figure out which leads require nurturing and which are ready for a sales call.
Marketing qualified prospects claim to be more interested than some other leads, but they are not yet ready to buy. You may have many levels of MQLs depending on your sales cycle. The elevation of a lead to an MQL should only be triggered by extremely specific, high-interest behaviors. These include bottom-of-the-funnel incentives like demos, free trials, in-depth buyer’s guides, and more.
MQLS become SQLs once sales have followed up with them and deemed them to be of high quality. When sales and marketing are aligned, the focus is on high-quality leads, which leads to more conversions. The transfer to SQL, opportunity, customer — and eventually evangelist — will be smoother if MQLs are delivered to sales. When marketing aids in the search for gold, sales can focus on what they do best: converting it into income.
The process of converting a potential buyer from an MQL to a SQL varies by organization, but it usually starts with a procedure known as lead scoring.
You may rate your leads based on a variety of factors, such as the professional information they’ve provided and how they’ve interacted with your website and brand across the internet. This method aids sales and marketing teams in prioritizing leads, appropriately responding to them, and increasing the rate at which leads become customers.
Lead scoring allows salespeople to spend more time talking to leads that want to talk to them and are interested in your product or service by saving them time.
The sales and marketing teams collaborate to decide which actions qualify a prospect for the sales process. You’ll figure out what an ideal lead looks like and how much weight each action should carry.
Booking a meeting, participating in a demo, or responding to an email are examples of these acts. Then, rather than responding to an email, you may allocate higher point values to scheduling a meeting.
Your marketing team may pitch leads who aren’t ready to move on in the sales process if there isn’t a defined set of activities in place. Your sales team will be slowed as a result of this.
So, what kind of actions can help a prospect move forward? It could take the shape of increased website engagement. Assume a lead visits your website, opens your emails, and downloads your lead magnets. That they’re interested in hearing what you have to say. They may be ready to graduate from MQL to SQL depending on how much and what kind of contact they have with you.
Negative actions could also be included. For example, if a lead has ceased connecting with you or not opening your emails, their lead score may suffer.
Why is SQLs Important?
Understanding MQLs and SQLs are critical for your sales force since the system may help them spend more time selling to the right people at the right time by saving them time.
Lead scoring and converting MQLs to SQLs, at its best, provides your sales team with more qualified prospects with whom they can have more meaningful dialogues.
Furthermore, tracking MQLs and SQLs provides your sales and marketing teams with information into what’s working – what comes in leads and how likely are they to convert?
Furthermore, how frequently does your sales team close SQLs?
Is your sales team conducting more in-depth discussions?
The MQL and SQL tools can assist you in determining whether or not a lead is ready to speak with you. If your firm isn’t already utilizing it, you can utilize it to improve your sales interactions and close more deals.
Its strong and simple-to-use capabilities might also assist you in increasing sales. Its team of professionals will assist you in finding the best solution for your company, allowing you to expand without worry.
You no longer need to be concerned about producing leads on your own! Aiozium will handle everything for you, from identifying clients who are interested in your services to get them on the phone or into your store.