Leads for your business are essential for sales and development as a company. But ‘business leads’ is an extremely broad term as there are levels to the quality and specifications of each and every single lead you deal with on a day-to-day basis – such as a Marketing Qualified Lead… The term, MQL (Marketing Qualified Lead), comes at a more advanced stage of the lead generation process and in very simple terms could be defined as a lead with a strong chance of conversion.
However, what differentiates an MQL from a ‘hot lead’, so to speak, is that the quality of the potential has been justified and confirmed by their pre-engagement.
In its most basic form, a Marketing Qualified Lead can be described as a lead which has identified itself to you, through your marketing output. This includes the interaction, engagement and downloading of your content. That could be email sign-ups from the blog, Ebooks, freemium add-on tools or case studies.
All which you must reveal your identity in order to obtain the extra value. But an MQL does not necessarily guarantee that it is always a more relevant lead. Your marketing efforts, to spread wide as possible will inevitably pick up non-totally specific targets on the way. So the next step is to take the MQL’s and justify and qualify the potential of the lead with a more scientific measurement. That is to say the lead meets the requirements of the ‘ideal customer’, pre-established by the marketing team. One which matches all the criteria of a relevant and perfect customer. Research is required to break down your clientele’s specific features in order to create your own marketing qualified lead algorithm or personalised ‘lead score’. It requires you to create a universal definition so that there can be no objective opinions, only one agreed end result.
But analytical data insights can provide the pathway for this, along with gathering current client data. Ultimately it is better to have fewer leads of greater quality than to deal with a lot more leads of poorer quality and ultimately, little or no value. And this will reflect in the value of productivity of staff as you do not want your sales team members, wasting their all-important time on leads which are never going to convert. There is absolutely no reason to find yourself in a situation where your sales team have too many leads, but none of them succeeding to end goal. It is all about cleaning the process of the development of the lead, through the system – a quality control.