Insights

Not all leads are  equal. While each has some worth to your company, assuming they are all equally likely to convert is naive.

As a result, you'll need a system for deciding which leads to devote time to. Because of this, marketers developed the Marketing Qualified Lead (MQL) and Sales Qualified Lead (SQL) metrics.

WHAT EXACTLY IS AN MQL?

Marketing qualified leads, or MQLs, are leads who have expressed an interest in becoming customers. They are typically generated through marketing campaigns and activities before being forwarded to the sales team for further qualification.

MQLs come before SQLs in the sales funnel. They haven't provided detailed information, but the information they have provided indicates a strong interest in your product or service.

MQLs, in other words, have raised their hands.

They've agreed to receive something, whether it's content, a webinar, or a newsletter. Your marketing has piqued their interest, and they want to learn more.

MQLs have a need that your product or service can fill. If they don't believe you can help them, they won't be interested in learning more about your company.

WHY ARE MQLS NECESSARY?

MQLs are the most important marketing KPI for 39% of marketing decision-makers.

Why? Because each MQL represents a serious potential customer.

The final sales result is far from certain. Nonetheless, your systems have determined that they are worthy of the time and attention required to move them forward.

Differentiating MQLs from lower-quality leads allows sales teams to make better use of their limited time. This removes the bad apples from your basket, leaving sales with a delicious basket of Granny Smiths (in this case, SQLs) to enjoy.

WHAT IS A SQL?

SQLs are leads that have been thoroughly vetted by your marketing team.

They contacted them, inquired about their needs, and established a budget. The need and requirements exist, and it is time to forward them to sales.

WHY ARE SQLS IMPORTANT?

Most marketers rank increasing SQLs as their top priority.

That's not surprising given that a SQL is the apple in the basket. They're interested and prepared to buy, and your marketing and sales teams have worked hard to get them there.

For businesses with an effective lead management strategy, a SQL is the finish line. However, for others, this may only be the beginning.

Even if a lead is "ready," it may not be the right time for them to buy.

They may need to seek advice from other decision-makers. This quarter's budget may be tight.

The point is that a SQL is not always a sure thing. However, if you've done your job well, they're on their way to becoming a customer.