Tracking and qualifying leads are challenging for companies and marketers. Therefore, it’s crucial for any company to know the importance of MQL and MQM, as they can help marketers determine what lead is worth their time. Understanding how these two terms work together can help you manage your sales pipeline more effectively.
MQLs are the most qualified leads in your pipeline. They have already expressed interest in buying or investing by downloading a whitepaper, visiting your website, or requesting more information. But do you know how to qualify them even further?
MQMs are meetings that take place after an initial engagement between a potential prospect and marketer before handing over the leads to the sales team. The goal of an MQM is to convert the MQL into SQL and further move the leads in the sales funnel.
Importance of MQL and MQM
The leads your marketing department generates are worthless unless they’re qualified. Qualifying a lead ensures you’re not wasting time following up on unqualified prospects.
Lead qualification occurs through the nurturing of leads, and this is what most companies neglect. The problem with this lack of nurturing is that many good prospects go cold. They lose interest, they don’t buy what you’re selling, or they simply forget about you because you haven’t been there to remind them of your company. This can lead to potential prospects losing interest and becoming disengaged, which diminishes the chance of converting these people into paying customers down the line.
Lead nurturing converts a lead into an MQL by providing content that benefits their needs and interests. MQLs are the ones that will buy from you and then become a customer for life. MQLs have the highest conversion rates because they are qualified by marketers using a set of criteria designed to ensure prospects are more likely to buy than others before being sent over to sales teams.
These leads have already shown that they’re interested enough in your company to take the time to fill out contact information for more information on your offer. This means that they have much higher chances of converting into customers than cold contacts or other types of generic leads do. If you don’t have enough of them, it’s going to be tough to hit revenue targets month over month.
MQM is a significant part of B2B companies’ sales funnel because it allows marketers to get face-to-face with their customers and establish trust. Before MQM, marketers would have to deal with cold calls or emails that did not yield any results.
MQMs are another way to nurture the MQL and determine if it is in your best interest to continue pursuing an MQL. MQM converts an MQL to SQL by allowing marketers to convince and educate them. By determining whether or not an MQL is worth following upon, you can save time and resources without wasting them on leads that won’t close. The earlier you do this analysis in the pipeline stage, the better for both companies and that lead.
MQM is such an important part of the sales cycle because by qualifying leads early on, it saves time and resources without wasting it on leads that are not going to be closed. MQM helps companies gain exposure in front of potential clients by giving them a chance to speak directly about their business needs and requirements. This type of interaction is much more effective at closing deals than email campaigns, or phone conversations ever could be.
MQL and MQM are so sought after because they help marketers understand the mindset of their customers. This understanding helps to create a more personalized experience for your customer, which can result in increased sales.
Funnl is a B2B lead generation company that helps you generate high-quality leads for your business. Our lead recommendation software is designed to help you generate more qualified leads that are ready to invest in your product or service.