The expanding boom of the e-commerce industry is a clear consequence of the sudden onset of the ensuing global lockdown. While markets around the world may not be completely halted, the production and distribution levels are still struggling to reach the pre-COVID levels of profitability observed during the early half of 2019.
With non-conventional teams taking the wheel, their experiments have now grown into full-fledged, accountable business methods with professional support. One such experiment that has been hugely successful is marketing-qualified meetings.
Before wielding MQMs to increase your revenue, it is highly recommended that you understand the basics of MQM here.
Why utilize MQM for revenue generation?
The saying is simple: marketing-qualified meetings are the next big thing in the sales industry. However, waiting for the right time to come along is akin to letting your competitors steamroll your business. The next big thing is not in the future – the right time is now.
Your best bet at building a successful sales repo that includes marketing-qualified and sales-qualified meetings is FunnL.
Your sales pipeline is a very important part of your business. Keeping an eye on it is as important as focusing on its expansion. And here is why you should utilize MQM for generating better sales – they can be used to increase your revenue generation, and keep an eye on it as well! As a vital part of your organization’s Key Performance Indicators, an MQM can give your sale the edge it needs.
How can you use MQM as a revenue generator?
The short approach to generate revenue by integrating MQM into your sales and marketing skill set is three-pronged:
- Identify: The first and most important step in this process is for you to identify your target demographic.
Your target demographic is a narrow portion of all consumers that contains the majority of your commodity’s prospective customers. It might be classified based on age, geographic location, networking bias, or all of the above. Given that the chances of you making a sale are always higher when you appeal to a broad audience, the idea of identifying and targeting a specific set of prospects might sound counter-intuitive. However, by identifying and understanding who is most likely to purchase and form a business-client (or even a business-business) relationship with you, it results in less marketing expenditure in the long term, while maintaining sales-time density.
- Guide: Once you have an affirmed set of prospects, the next step is to nudge them towards looking into your business and what you are offering.
While straightforward, obvious, shove-it-in-their-face marketing may come off as obnoxious, subtle marketing has proven to be a very hit-or-miss strategy as well. It is vital to study and observe the right balance of “this is what you want” and “this is what we provide”. Inducing the feeling of an offer to explore their requirements is often a better choice than pushing them to consider your business from a profitability standpoint.
- Appoint: The utility of marketing-qualified meetings is to increase the overall sales-time density of your organization.
If gained time is lost in meetings and conversations with potential clients, then the purpose of the qualification is lost in the process. Rigorous appointments and short-burst meetings help maintain the balance between the required interview sessions, and the gradual increase in time savings. And once all of that has been accomplished, you can proceed with fitting MQM and SQM into your lead conversion funnel, which can be viewed here.
While the overlay looks simple, it is often a tedious job that requires separately appointed and accounted-for teams. And to save you from this unnecessary tedium, we at FunnL are here to help! We are a global pioneer at organizing customized SQM and MQM sessions and are the leading brand when it comes to B2B lead generation services. With a team of extremely skilled professionals and 25,000+ successful qualified meetings in our portfolio, we are the best at what we do. Contact us today to gain that nudge to get your next customer.