Sales and marketing departments have traditionally used lead qualification to determine when a lead is ready for a sales conversation. The acronym MQL was created as a way to measure how many leads are sales-ready and has been the gold standard for most organizations. However, recent changes in technology and buyer behavior warrant a new approach to qualifying leads that goes beyond MQL.
MQMs are an opportunity to engage with buyers who have already identified their needs and are researching potential solutions. Simultaneously, provide a more accurate picture of what’s happening in your pipeline and can help you optimize your strategy for achieving greater success. To increase the effectiveness of your pipeline, you need to move away from relying on MQLs alone and start using qualified meetings as a key metric.
Why you should be using qualified meetings to drive your pipeline
1. Helps connect with customers on a more personal level
Many businesses view their customers as nothing more than numbers. This approach can often lead to impersonal and unfulfilling customer interactions. However, businesses that focus on treating each customer as an individual will create a more personal and engaging customer experience.
To create a more personal and engaging customer experience, it is essential to have MQMs. This means that you are meeting with the right people and are prepared for the discussion. By doing this, you can ensure that each interaction counts and customers feel valued. Having MQMs also allows you to focus on what is essential, rather than wasting time on discussions that won’t result in a sale.
2. Improves client-company relationship
Most business professionals would agree that the key to a successful client-company relationship is quality communication. However, what constitutes quality communication? In many cases, it’s face-to-face meetings that allow both parties to get to know each other and discuss business in detail. This is where MQMs come into play. MQMs are one key way to improve communication and strengthen relationships in the process.
However, not all MQMs are created equal. An MQM that is not well-prepared or that lacks a clear purpose can actually have a negative impact on the relationship. By contrast, an MQM that is well-prepared and focused on achieving specific objectives can help improve the client-company relationship for the long term.
3. Improves lead conversion and positively affects sales rate
Imagine if you could cut the number of cold calls in half. Better yet, imagine if qualified meeting requests outnumbered unqualified ones 10 to 1. That’s the power of MQMs. When used correctly, it can help improve lead conversion and positively affect your sales rate.
Having MQMs will help you focus on the leads that are most likely to result in a sale. It will result in a higher conversion rate and positively affect your sales rate because you will be able to spend more time selling and less time chasing down unqualified leads.
MQLs are a great metric to track, but they don’t always indicate how likely it is for a deal to close. Sales teams need to move beyond MQLs and start using MQMs (Marketing Qualified Meetings) to drive the pipeline (explore why MQM works).
FunnL provides high-quality sales qualified meetings (SQMs) – that can help your sales team close more deals.
If you are looking for a way to increase your close rates, contact us today for high-quality SQMs. By using FunnL’s high-quality SQM services, you can ensure that your sales team is focused on the right opportunities and driving pipeline growth.