Marketing qualified leads have expressed a desire to purchase. They’re open to the idea of a sale and have taken the first step toward engaging with your company without purchasing. While marketing efforts can generate leads, it is the lead’s behavior that prompts marketers to view them as MQL. They initiate the process with you to know more about what you have to offer them.
Marketing qualified meetings are meetings held before the sales pitch to educate and persuade the prospective buyer (primarily MQLs) to continue the sales process. The primary goal of these meetings is to identify and address prospects’ pain points to be nurtured and converted into paying customers.
MQMs are adaptable because they can take prospects from awareness to education, consideration, and decision, which leads to the purchase of a product or service from your company, whereas MQLs are concerned with the quality of the lead rather than its quantity. MQLs should narrow down leads that meet a specific set of criteria to increase conversion rates. You can know more about the differences between MQL and MQM here.
Revenue generation using MQL and MQM
Knowing your ROI of a specific strategy allows you to see where it is succeeding and where it requires improvement. Making the necessary adjustments can help you increase your ROI and breathe new life into your MQLs. So, how can you ensure that your MQL strategy is yielding a good ROI?
Here are a few tips to generate revenue using MQL and MQM:
Have a particular lead goal
Having a specific lead goal allows you to focus your search and devote more time and effort to the quality leads that are more likely to convert. These goals should be associated with your company and sales strategies. You must align the objectives of the sales and marketing teams to achieve maximum success.
Regularly monitor traffic
Closely monitored visitors to your website regularly. However, even though they may not be your immediate customers, they are interested in your company’s solutions by visiting your website organically. This information allows you to narrow down which prospects might be MQLs.
Customers from Marketing per Month
Knowing where your leads come from and how well you perform can give you a good idea of how much you contribute to your company’s sales. So, how do you know what your numbers are? To calculate it, count the number of new customers from a given period and parse out the percentage that came from marketing leads in the sales funnel.
Marketing Qualified Leads by persona
Strategically developing personas provides a specific target for your sales team to aim for, and aligning with sales is vital for results. When your team adheres to this, it will benefit your lead generation and content strategy.
Consider the fact that successful MQLs typically convert from 2% to 5%. Remember that for your MQL to add value, your website traffic must convert to leads, who must then convert to customers.
Marketing qualified meetings
MQM can also be used to increase revenue generation by incorporating it into your company’s sales and marketing departments. In this process, the first step in the marketing process is to identify your target demographic. That could be categorized according to age, geographic location, or networking bias.
However, you can increase your chances of success by identifying and understanding who is most likely to buy from you. The next step is to persuade them to look into your company and what you have to offer. In many cases, inducing the feeling of an offer to explore their requirements is a better option than pushing them.
The purpose of marketing-qualified meetings is to boost your organization’s overall sales-time density. After you’ve completed all of that, you can move on to incorporating MQM and SQM into your lead conversion funnel. You can read more about utilizing MQM to generate revenue here.
MQMs are an important component of the sales funnel because MQMs with prospects and customers accelerate the sales cycle and increase the revenue pipeline. Allow FunnL to organize and customize MQM sessions for your company.
With over 25,000 successful qualified meetings, FunnL provides you with AI-powered Inside Sales and Lead Prospector platforms that assist your business with lead generation and qualification processes. Contact us, and our team of professionals will be there to help you get a competitive edge in your industry.