In marketing streams, the term ‘MQL is Dead’ keeps popping up. Despite this, it appears that the die-hard term is still in use. And we know why.
What Is MQL?
A marketing qualified lead (MQL) is a website visitor who your marketing team believes has a good chance of becoming a customer. MQLs are pre-qualified leads who match your buyer profile.
However, they lack a few credentials that would make them an excellent addition to your sales team. Perhaps they’re engaged in a lengthy buyer’s journey. Alternatively, they may be in the correct market and have decision-making authority, but they lack the necessary money or reasonable budget requirements.
According to Deloitte Insights, 46% of CMOs claimed they had a major effect on C-suite conversations on marketing technique in 2019. By 2021, this percentage will have nearly doubled to 81%. The timing is ideal for marketing teams to emphasize their company’s approach with consistent MQLs.
In a nutshell, a MQL is a decently qualified lead that fits one or more of your buyer profiles but isn’t exactly ready to purchase.
In this blog, we look at the ‘MQL, from how it works for lead generation to why it is really not dead.
What Is Lead Qualification in Marketing?
Marketers utilize lead qualification to figure out how probable someone is to become a client. This technology is critical for enhancing sales and marketing efficiency, improving lead conversion, and completing agreements.
A qualifying lead meets four requirements:
- The prospect has an issue that your product can help them solve.
- The prospect’s budget allows them to purchase your products.
- The prospect has authority and is a decision-maker.
- The prospect has a specific timeline where they intend on making a purchase.
The above criteria, when used early in the qualification process, can assist in limiting the amount of prospects who aren’t a good fit. This will make it easier to qualify leads better, such as assigning a lead score and segregating leads into listings.
How to Sort Through Marketing Leads?
It’s difficult to know when to hand the ball on to sales. If you send them too quickly, the prospect can be grumpy. If you send them out too late, the prospect may lose interest.
While marketing is in charge of qualifying leads, MQL’s success depends on sales and marketing teams working together.
Marketing and sales, for instance, can work together to develop two basic MQL categorizations: hot MQLs and cold MQLs.
Hot MQLs have expressed an interest in hearing from you by requesting information. This includes requesting customers to download a whitepaper or ebook, as well as providing contact information and agreeing to your privacy conditions.
Cold MQLS, on the other side, have not provided their information. Perhaps the prospect read a blog article or viewed a product video on your website.
When marketing sends classified leads to sales, salespeople can figure out the best way to engage them.
Why Does Inbound Marketing Make Sense for MQL?
Prospects are drawn to your business via inbound marketing, which allows them to select material that interests them.
From the first blog post a customer sees on your website to the market survery report you provide them in an email series, inbound marketing helps you create connections with prospects.
Reps improve ties with MQLs when they go to sales, improving the possibility of a sale.
MQL Is Still Alive And Kicking.
The term MQL was coined to help marketers figure out who wants their product, who has the budget to purchase it, and who has the power to buy it.
Furthermore, when marketing and sales teams work together, marketing may generate leads that sales loves to execute.
When you put all of these MQL components together, you’ll be able to generate a consistent stream of high-quality leads that will knock your marketing plan and will help you sky rocket your revenue.
It’s simpler to wade through the muck when you have a marketing qualified lead. We select MQLs to guarantee that your sales and marketing teams are both focused on a specific group of prospects. What are you waiting for? Get in touch with us today as we have a platter full of HOT leads to serve you.
Vikas Bhatt is the Co-Founder of ONLY B2B, a premium B2B lead generation company that specializes in helping businesses achieve their growth objectives through targeted marketing & sales campaigns. With 10+ years of experience in the industry, Vikas has a deep understanding of the challenges faced by businesses today and has developed a unique approach to lead generation that has helped clients across a range of industries around the globe. As a thought leader in the B2B marketing community, ONLY B2B specializes in demand generation, content syndication, database services and more.