Among the many terms one may hear tossed around by marketers, marketing qualified leads (MQL) is likely one of them.
While assessing marketing efforts, marketers may need to understand the difference between a general lead and a MQL.
Leads are generated through marketing initiatives conducted through print, online, public relations, and social media. MQLs are more valuable than other leads because they have been, through lead intelligence, deemed more likely to become a customer.
Doesn’t selectivity with leads mean fewer potential sales?
Ultimately, the answer to this question is no. Providing a sales team with qualified candidates to purchase the goods and services will result in higher sales because the sales team can focus their time and efforts with the leads that are most likely to buy.
Defining Marketing Qualified Leads
Review previous prospect (including those who didn't end up as a customer) and customer data to determine the common characteristics of leads that close the most sales and the characteristics of those who don't buy. Learn as much about them as possible, including: their pain points and needs, their daily life and their motivations.
The definition of an organization's MQL should be firmly based on data and not thoughts, opinions, or assumptions.
Some factors to consider when defining a marketing qualified lead are fit and alignment with ideal client profile and interest and engagement (or action already taken on your site).
Clearly defined MQLs are vital to a successful inbound marketing strategy. If done correctly, this crucial baton pass from marketing to sales can increase an organization's revenue and market share.
If left undefined, quality leads will slip through the cracks, the sales team will be wasting time with the wrong leads, and the organization will be losing out on potential revenue.