Generating high-quality leads is one of the top priorities for B2B marketers and sales professionals. But all leads aren’t equal.
When it comes to driving marketing and sales success in B2B, one key area to focus on is your Marketing Qualified Leads (MQL). In this blog, we’ll talk all about MQL and how you can improve your MQL conversion rate.
What is a Marketing Qualified Lead?
A Marketing Qualified Lead is a prospect who is interested in your products or services. They meet your ICP and buyer’s persona, indicating they’re a good fit for your business. MQLs are genuine leads that can ultimately be passed on to the sales team.
You can generate MQLs through content marketing, email marketing, social media marketing, etc. They can fill out a form on your website, download a whitepaper, or visit specific pages.
But why are MQLs so important in B2B? Marketing Qualified Leads are an important stage in the customer’s journey. These prospects have expressed interest in your brand and are more likely to respond to your sales and marketing efforts. In simple words, high-quality MQLs have higher chances of converting into SQLs.
But many marketers often confuse the two terms.
Difference Between MQL and SQL
MQL and SQL are two different stages in the customer journey. Their difference is based on where the customer is in the sales funnel and what is their level of interest.
An MQL is interested in your brand and has engaged with your marketing campaigns. But they are not yet ready to engage with the sales team.
A Sales Qualified Lead (SQL), on the other hand, is a prospect who is reaching the end of the buying cycle. They intend to make a purchase and are ready to interact with your sales team.
But converting your MQLs into SQLs requires a solid strategy in place. Let’s dive into it in detail.
Strategies to Improve MQL Conversion Rate
1. Identify Problem Areas
If your MQL conversion rate is lower than expected, start by getting to the root of the problem. Determine what is keeping your MQLs from making a purchase.
Are you targeting the right prospects? Is your product or service too expensive? Are there any issues with your offering that you might have overlooked?
Understanding the reason for a low MQL conversion rate will help you identify areas that require improvements and create an effective strategy to boost conversions.
2. Personalize Your Messages
A prospect who has entered the MQL funnel is ready to hear from you. They might have questions or reservations about your product, and personalizing this communication can help you manipulate their buying behavior.
An excellent way to do this is by leveraging email automation. It helps you share relevant and timely messages with your prospects based on their interaction. For example, sharing a personalized welcome message right after they sign up, followed by educational, promotional, or renewal campaigns.
Personalizing your messages makes your prospects feel that the brand is invested in them, increasing their trust and making them more likely to convert into customers. You can also provide exciting offers or discounts to encourage them to make a purchase.
3. Share Success Stories and Client Testimonials
When your MQL is in the consideration stage, and your brand is in the running, it is an excellent time to show them the market validation for your product or service. This can be in the form of client testimonials, success stories, or case studies.
While you might already be sharing them in your marketing campaigns, you must also equip your sales team with this information so that they’re more confident when talking to the prospect.
This will reassure them about choosing your brand over your competitors, accelerating conversion.
4. Leverage Sales Enablement Tools
Sales enablement tools help your sales team be more productive, efficient, and effective in their interactions with prospects and build a qualified sales pipeline. In addition, these tools help you streamline and optimize the sales processes, boosting your B2B MQL conversion rate.
For example, you can leverage a sales enablement platform to-
- Automate lead routing and assignment to a salesperson
- Provide salespeople with access to relevant content and resources to support their sales efforts
- Track and analyze customer interactions and behavior to identify opportunities and areas for improvement
- Integrate with your CRM and other sales tools to provide a unified view of the customer
Drive Conversions for MQL in Marketing
Converting MQLs into SQLs or customers is a crucial step in the B2B customer journey. By improving your MQL conversion rate, you can drive more revenue and achieve your growth goals. So create a strategy that works for you, align your sales and marketing teams, and track your progress.
By continually testing and optimizing your approach, you can drive better MQL conversion rates and success for your business.