Determining an MQL from SQL is a critical step that defines the relationship between sales and marketing. This first step of distinguishing one from the other serves as the ultimate foundation for lead hand-offs.
MQL refers to a lead that, based on lead intelligence, is more likely to become a customer than other leads and is typically conveyed via closed-loop reporting. This is measured by looking at specific behaviors or levels of engagement, such as website visits and content offer downloads, or whether the request is made via a demo or free trial sign-up. Only certain forms, such as direct business offers and other sales-ready CTAs, should ideally move a lead to the MQL stage.
The next kind of lead is called SQL. This indicates that the lead has been qualified as a potential consumer by the sales team. SQLs are found within your business’ buying process – however, MQLs are not yet ready for that stage, and generally require a transition stage. Once you understand the differences, you can practice lead scoring by providing higher lead scores to individuals who have visited high-value pages (sales guides), filled out high-value forms (direct sales demo requests), or visited your site several times.
6 ways to transition an MQL into an SQL
Set up sales alerts
Sales teams are required to know that a brand new MQL is prepared for them to review as soon as possible, as the window of opportunity is often time-dependent. The first, and possibly the maximum apparent step to ensuring it receives transformed into an SQL, is to set up sales alerts.
Having a system to automate those alerts is a great solution to make sure sales teams receive those alerts on time, every time.
Create a task in CRM that allows sales to take action in MQL
Tasking using CRMs is a great way to convince sales teams to keep reviewing MQLs and make a decision. It not only allows the sales team to easily track open activities, but It also helps the marketing team to maintain conversion rate metrics.
While screening prospective leads can be done effectively using CRM tools, you can make the overall process of lead qualification more efficient by making use of FunnL’s Lead Prospector! Why does it the easy way when there is an easier way to do it?
Set a time limit on follow-ups
MQM should be treated with a sense of urgency as the prospect has just taken steps to qualify. It is best to get them while they are still warm. Here is how sales qualified meetings (or SQMs, in short) fare with warm leads.
Following up instantly ensures that the sales team can reach them with the most relevant message before they forget what attracted them to the company, to begin with.
Have a Service Level Agreement
At a high level, the marketing team and the sales team agree on a service level agreement (SLA). The SLA outlines the terms of how sales and marketing will work together. With an SLA, each team is responsible for its part of the work.
For example, if an MQL earned an 80-point score from a combination of content engagement and web engagement, and falls within the ideal customer profile, it must be accepted for sale or returned to the marketing department within 24 hours of being assigned. The SLA serves as a map that will journey the lead from the marketing department to a sales team.
Set-up marketing qualified meeting with a prospect
Marketing Qualified Meetings are meetings that are planned and conducted by the marketing department (often before the sales pitch) to educate, nurture, and convince potential buyers to move on with the buying process.
By scheduling MQM with prospects, the marketing team can observe the lead’s response towards the company’s product as well as if you want to show customers that you are interested in their needs and aren’t just trying to sell them something.
Potential prospects expect to be treated like customers, with real engagement and authentic responses to their negotiations. Therefore, you can increase your sales opportunities by making use of marketing qualified meetings! These sessions often include demonstrations and reviews of products and services and the various aspects associated with the company’s offering.
Building trust is an important part of lead qualification and MQM is the way to do it. You can know more about the basics of MQM here, and why B2B marketers are using it as their new go-to CTA!
Review and train on procedures
Training and reviewing techniques are not one-time onboarding procedures. It is a collaborative process that engages the marketing and sales teams, often resulting in a higher MQL-SQL conversion rate.
This periodic evaluation offers a possibility for each team to constantly analyze each other and share their analyses. This makes things smoother and more efficient for both teams overall. A weekly meeting between marketing and sales teams permits each team to let everyone know what is working, what is not, and what requires improvement. These meetings help both teams to communicate openly and increase the chances of a sale happening.
Of course, implementing guidelines is only one step in a much larger journey. Marketing qualified meetings play a vital role in the buying cycle thereby you can attract and transform more leads into a customer. With FunnL, you can book a personalized MQM for your business.
FunnL is the world’s leading B2B provider of SQM and MQM services, With a team of highly skilled professionals and over twenty-five thousand meetings in their portfolio, FunnL is everything you need to improve your lead conversion rates. Contact us today to gain a competitive edge in your industry.