Did you know that 67% of all lost sales are due to improper lead qualification?
The importance of lead qualification has skyrocketed in the past few years, especially during the early post-lockdown period. But only 1 in every 4 generated leads is ready to advance to your sales team; the rest must be qualified by your marketing team to ensure that they are ready to conduct business with you. This is where marketing qualified meetings come in handy.
Marketing-qualified meetings allow you to move qualified prospects quickly through the pipeline and close deals more efficiently than ever before. This is made possible by identifying decision-makers among qualified prospects who can also purchase on behalf of the client business.
It’s time you take stock of the role that marketing-qualified meetings play in your business today, as they have become key to closing deals faster than ever before. You can brush up on your knowledge of marketing-qualified meetings here.
MQM in your business
Marketing qualified meetings can be extended beyond lead qualification. Here are three definitive roles that you can adapt your MQMs into –
- Marketing-to-sales handoff
To strategically and effectively increase sales, most businesses make use of a lead conversion funnel that guides them through building and maintaining a lead pipeline. This often results in an overall better experience for prospects and your business, simultaneously.
This lead conversion funnel consists of four steps to convert an interested prospect into a returning customer – MQL, MQM, SQL, and SQM. You can see that one of the roles of MQM is to facilitate the smooth transition of the lead (that has been qualified by your marketing team) from marketing to sales. This is termed as “lead handoff”, and is a very integral aspect of lead conversion. By making use of marketing-qualified meetings, the lead handoff process is managed efficiently by your business, while providing a level of personal service.
The duration between follow-up times before and after lead handoff is minimized as well since MQM can serve as a central point of communication and coordination for all teams involved.
- KPI monitoring
KPIs are defined as measurable values that indicate how well a business is doing to accomplishing its key objectives. A well-defined set of key objectives are as important as making use of tools that help you measure them. Further, a well-defined set of KPIs helps you keep track of how effectively you are achieving your goals utilizing various campaigns.
Keeping this definition in mind, marketing qualified meetings are eligible to be utilized as key performance indicators! The outcome of any MQM is very conclusive – the prospect is either interested in your business and transits the pipeline as a sales qualified lead (SQL), or they are not interested in the particular offering.
By comparing these outcomes with the overall lead conversion rates and increase in sales numbers, marketing qualified meetings serve as the foundation for one of the most effective KPIs you can have in your business!
- MQM as a lead generator
The analytic average of lead handoff success lies between 0.9% and 31.3% depending on the platform on which you are conducting your transition. At best, the benchmark states that 1 in 3 people convert successfully from an MQL to SQL.
With contact retention and frequent follow-ups, marketing-qualified meetings can serve as a lead generator, too! If the lower bound of your MQM success rate is equal to the analytic benchmark mentioned above, every 2 prospects out of 3 serve as generated leads for future products/services your business has to offer! This number grows larger with every marketing-qualified meeting you hold.
A strategy as malleable and flexible as MQM that provides you with superfluous insights into your business should be ensured to be professional and positive – which is where we at FunnL come in! FunnL is a global pioneer in B2B lead generation and qualification services, particularly MQM and SQM services. With 25,000+ successful meetings conducted, our team of professionals is ready to help you gain a competitive edge in your industry. Contact us here for inquiries.