SQL is a prospect that has been qualified, and the sales team has identified them as potential customers. If a company has one, it means the company has found someone who meets all of their needs for products or services, will be able to buy, and are ready to convert. However, MQL is not yet in the buying cycle and is not ready to purchase.
If you are a salesperson or marketer, it is essential to know the difference between MQLs and SQLs. MQL stands for Marketing Qualified Lead. An MQL is a prospect who has shown interest in the company’s product or service.
This indicates that the person is familiar with what the company offers and has taken actions such as reviewing content or watching videos about their product/service.
The risks of converting a prospect to an SQL directly
- Lose potential prospects
There are many reasons why marketers and salespeople should not try to convert a prospect to an SQL directly, but the most important reason is that you risk losing them as a potential customer.
If you push to sell directly to a prospect who has just started their journey, such as someone who has just visited your website, you may lose the potential prospects.
They will often put your email in spam. This is because prospects are not close enough to be ready for the stage of buying from you yet.
- Missing the opportunity to nurture a lead
The most effective way to increase your conversion rate is by nurturing prospects from the top of the funnel all the way through to a customer. The first mistake that companies make is treating every lead as SQL, rather than nurturing them or solving their customer’s pain points by providing them with information about your products, or services without being too pushy.
You have to build trust and confidence before taking on any major tasks, such as committing money or time.
- Waste of sales person’s time
When you try to convert a prospect directly to SQL, it often happens that the lead is left unqualified. Unqualified prospects often do not convert into paying customers, and they take up valuable time that can be spent on qualified prospects.
An unqualified lead is a huge waste of time for salespeople because they are not qualified to buy the product.
- Pushing unqualified leads who are not ready to buy
Sales and marketing are not easy. It takes a lot of time, effort, and energy to convert the prospect into SQL. Pushing the prospect who is not ready to buy from your company is a waste of time and resources on your end.
The more information you have about the business before pitching them, the higher the probability that they will become customers.
The best way to approach someone who does not know anything about your product or service is by first teaching them what it can do for their business. Once they understand how it benefits them, then you can show them how your product will help achieve those goals. But never ask too much of somebody at once.
- Prospect does not get enough time to research
In the business world, time is money. When you’re trying to convert a prospect into a customer, you want them to have enough time to research your company on their own and decide that they need what you offer.
If they do not have enough information about your company and you try to convert them to SQL directly, they will likely move to another company. It is important not to try and force people who are not ready into buying something before they are ready because it could end up hurting your business in the long run.
It is never a good idea to try and convert a prospect directly into an SQL. The conversion process is often lengthy, requiring customer research on your company, looking at competitor data, etc.
Instead of trying to sell them right away, you should first build rapport with them by educating them about what you do and why they need your product. You can then ask for the sale at a later time when they are more informed and interested in what you have to offer.
FunnL is one of the fastest-growing B2B lead generation and qualification firms in the US. FunnL also provides lead recommendation software designed especially for companies that want to improve their conversion rates, generate more qualified leads, and find the right prospects faster than ever.
We have experience generating over 10,000 marketing qualified meetings from healthcare, education, finance, business services, telecommunications, and technology. Contact us today.