Since its inception, the shift of B2B services has gradually shifted towards the interest and convenience of the client. However, the onset of the 2020 pandemic has overturned the conventional model of B2B sales, and the current focus is on how to market and sell such services remotely.
When it comes to remote selling (or inside sales), there are several strategies that can be implemented in your business. However, not all strategies can be quantitatively relied upon. One reliable solution that you will learn about in this article is marketing-qualified meetings or MQM.
In B2B marketing, MQM is an important metric that measures the success of a campaign and the quality of leads. For marketers to accurately measure how successful their campaigns are, they must be able to distinguish between qualified and unqualified sales-ready prospects. Qualified leads can be defined as those individuals who have expressed interest in a product or service offered by an organization. The key takeaway here is that any company with a goal of generating revenue should focus on qualifying more sales-ready prospects rather than wasting time on unqualified ones.
Before we move on to why MQM is important for B2B marketing specifically, it is recommended that you catch up on the basics of marketing-qualified meetings.
The role of MQM in B2B Marketing:
The above picture depicts the four broad tenets of marketing-qualified meetings – time efficiency, cost efficiency, productivity-friendly measures, and people-friendly marketing. All of these apply to the role of MQM in B2B marketing as well.
MQMs can be with a single prospect, groups of prospects, or entire communities (such as an online forum). The MQM process includes four steps: discovery phase, qualification phase, engagement phase, and harvesting phase. It is during the qualification and engagement phases that the businesses get to know more about each other, and the trust via transparency grows.
MQMs allow B2B teams to identify which lead connections will convert into buyers while still in the qualification phase rather than waiting until they’ve made it through all four stages of the MQM process only for many not converting at all. The business gets deeper insight into potential customers without making any commitments on their behalf.
By identifying the precursors during the qualification phases, B2B services can obtain very predictable results during the engagement phase, making the process of harvesting and retention easier to foresee. This increases the likelihood of customer longevity for the business, thereby resulting in increased revenue over time.
By understanding how customers think and behave in their qualification phases, businesses are able to help them reach their desired goals without wasting time and resources on individuals who won’t convert at all. This means that instead of waiting until they’ve made it through all four stages of the MQM process only for many not converting at all, companies can identify potential customers during these first two phases while still in the qualification phase rather than waiting until they’ve made it through all four stages of the MQM process only for many not converting at all.
The business gets deeper insight into potential customers without making any commitments on their behalf, which is a huge advantage when you consider that conventional lead qualification procedures often require human intervention and observation to be able to make confident calls.
These insights are sponsored by FunnL, a global pioneer in B2B lead generation services. FunnL has a portfolio of over 25,000 successful qualification meetings conducted, and a team of expert professionals ready to help you get that next customer! Contact FunnL today to gain a competitive edge in your industry today.