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All Leads are Not Created Equal

The best way to get more out of your marketing and sales efforts is by understanding the relationship between marketing qualified leads and sales qualified leads. Not all leads are created equal, and even subtle differences between them can lead to big differences in your conversion rates.

Marketing Qualified Leads vs. Sales Qualified Leads

Marketing qualified leads (MQL) and sales qualified leads (SQL) are often discussed in the world of business, yet seldom well understood. Even more confusion arises when companies in the same industry have different definitions of each of these terms. In general, a marketing qualified lead is an inquiry, or curiosity about a product or service that can be nurtured through marketing. An MQL requires further marketing attention to continue the journey down the sales funnel. A sales qualified lead is already further down the sales funnel and generally ready to engage with your sales department.

The Leads-to-Close Ratio

The leads-to-close ratio is an important metric in marketing and sales. This figure is the number of leads you have received over a specified time period divided by the leads you have actually closed. The leads-to-close ratio is essential for determining the effectiveness of your current marketing and sales efforts. For example, if you generate many leads with few closed sales, it is likely that a glitch in your sales process is preventing you from fully capitalizing on the success of your lead generation efforts.

Synergy between Marketing Qualified Leads and Sales Qualified Leads

In most cases, an MQL has been drawn in by your marketing efforts but requires nurturing through your sales team to follow the sales funnel through to completion. These leads are interested in your products, but more information, customer service or experience is needed before they feel comfortable making a purchase. There is also a synergetic relationship between marketing qualified and sales qualified leads. Many of the sales qualified leads your business generates have been nurtured through the marketing qualified lead stage. Others enter the sales funnel independently. The transition from MQL to SQL can be a smooth one if marketing sales leads are transferred seamlessly to your sales team.

With a better understanding of the differences and similarities between marketing qualified and sales qualified leads, you can tailor your sales funnel for optimum conversions. The leads-to-close ratio will help you assess the effectiveness of your efforts and identify shortcomings along the way. This is often a cyclic process that allows for continual growth in a changing market. Working with a lead generation company can help you optimize this process for even faster results.

 

Posted By: Tactical Telesolutions

Posted on: 10/19/2016
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