MQL and SQL are two standard terms associated with business leads list marketing. But what roles do they play in your lead funnel? In our latest post, we explore this.
It might seem counterintuitive, but generating leads and turning business leads lists into prospects and sales is becoming more challenging each year. The internet makes it easier to reach potential customers, but it also does the same for your competitors.
This reality means that you can’t waste time on leads that will never convert. Understanding MQL and SQL is essential to success in lead marketing.
Let’s take a look at these two steps in the lead process so that you can generate more profit.
MQL and SQL: What Are They?
MQL stands for marketing qualified leads. When potential buyers visit your website and provide their information, they signal their interest in you.
These customers are in the research stage, searching for a solution to a problem. Once your marketing team has their information, they can gauge their interest. Invite them to webinars or offer downloads that provide more information.
If the customer follows through with the call to action presented to them, whether it’s a download, webinar, or calling a number, they become an MQL. They have shown more than passing interest. You can now push the customer towards the decision phase.
Offer free trials, quotes, or coupons. If the lead bites, you now have an SQL and should get them to sales as fast as possible.
An SQL is a sales-qualified lead. They have passed through various checkpoints and are ready to buy now. These are the leads who are willing and able to make a decision.
How Do I Know When To Send An MQL to Sales?
Meeting specific criteria is critical to ensuring a lead is worthy of your sales team’s resources and time.
First, the lead should have the financial means to buy your service or product. If they have made it through the MQL stage, it is safe to assume they have the budget to buy now.
Next, someone should have the authority to make buying decisions. The product you offer should meet their needs, and they should be willing to decide now.
These criteria are all filtered in the MQL stage. People will follow CTAs and show interest even if they don’t meet these markers, so you can’t worry about that.
The key to successful lead marketing is putting the odds in your favor.
Signs That the Odds Are In Your Favor
Look at website visitors’ behavior. A repeat visitor is likelier to buy a product or service than a first-timer, and knowing their behavior is essential to influencing them toward a purchase.
The software can tell you how to convert visitors into customers. These programs can tell you which pages the visitor goes to, how long they view each page, and where they visit your site.
You should also have data that shows where your best leads come from. Knowing if your best customers come from LinkedIn, Twitter, Facebook, or other sources will allow you to focus your marketing campaigns.
Gathering demographic information is also essential. For lead marketing, you’ll first need a visitor’s email address, company, position, and phone number.
After a few visits and a fulfilled call to action, you should know what problem the customer wants to solve and how they view your company. This information will tell you the best approach to selling your services.
How to Gauge Lead Marketing Success
Assuming that lead marketing is effective because of the many SQL leads is counterproductive. As with most things in business, quality always trumps quantity.
Sending many leads from marketing to sales can be bad for business.
Your sales team uses time and resources to follow through on each lead. For every dead-end lead, you risk another customer looking elsewhere.
Your sales team might also become upset with the lead marketing team for wasting their time. The best way to prevent this is to look for two things: the number of leads accepted by the sales team and the conversion rate of MQLs Marketing Qualified Leads.
A lead marketing team is only as good as the money they bring to a company. If your sales team rejects a large number of MQLs, there needs to be a shift in focus and tracking.
If the leads are being accepted but aren’t converting, there is a problem with both departments not adequately meeting the needs of leads. The key is to interpret the data and act accordingly.
Stagnation Kills A Business
Too often, a company hurts itself by refusing to change. The worst thing any company can say is, “This is how things have always been.” Lead marketing depends on innovation.
Never assume that your way is the best. New methods and technologies are changing industries every day. If you aren’t willing to adapt your strategies to meet new needs, you will suffer for it.
Look into programs that determine the best way to get MQLs and give you the data you need to send them to sales at the right time. Don’t be afraid to try new methods. Fear and marketing leads don’t mix.
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