How to maximize your MQL to SQL conversions for 2021 - Lead Forensics

How to maximize your MQL to SQL conversions for 2021

Even in the most holistic organization, Marketing and Sales teams are famously misaligned. Be it individual targets, contrasting measurement styles, or simply a lack of communication – teams can find themselves at odds.

Wires can also get crossed when attempting to transition a Marketing Qualified Lead (MQL) to a Sales Qualified Lead (SQL). Getting this exchange right is pivotal to creating a successful pipeline and can provide an essential boost to your organization’s overall ROI. So how can you get the most out of your Sales and Marketing team’s efforts?

What’s an MQL and SQL?

Let’s take a step back and review what we mean. 

An MQL is a Marketing Qualified Lead; a prospect that your marketing team has identified as likely to become a sale, but requires some additional assistance before they’re ready to convert. This is typically determined based on lead intelligence, often informed by closed-loop analytics. 

An SQL, or Sales Qualified Lead, has progressed past the engagement stage, been thoroughly analyzed by both marketing and sales, and is deemed ready for direct communication from sales. 

So how can you maximize the number of leads that progress from MQL to SQL?

Lead Behavior

A key attribute in establishing the leads that are SQL-ready is to assess the lead behavior. Analytics technology can provide valuable insight into the behavior of your leads, including if they are a first-time or repeat visitor; the conversion count, and their point in the buyer’s journey –  which can be indicated by which pages they have visited. 

Specifically, user identification software, such as Lead Forensics, streamlines this process by presenting these metrics clearly and concisely. This will allow you to efficiently identify MQLs from your website visitors – providing you with the insights to make data-informed decisions on which are ready to become SQLs.

Lead Scoring

Lead Squared claims that organizations that utilize lead scoring see an increase in lead generation ROI by 77%. Lead scoring considers both the lead behavior and the lead demographics, assigning a score or value to your prospects based on their level of interaction with your organization. This essentially allows you to assess the overall engagement level of your audience, allowing for a more precise measurement of how interested they are in your product.

Using this information, MQLs and SQLs can be identified more easily, allowing your sales and marketing teams to coordinate their communications effectively. Coordination with this is key, as many will view the two as MQL vs. SQL. However, adopting the mentality of MQL and SQL will allow you to strike a necessary balance and understand how to effectively nurture both.

When it comes to lead response times; you can be straight on the phone. IP tracking software enables you to set up an alert so you know when a top target prospect has landed on your website. You’ll also be able to find out when an amazing lead you know is hotting up has started giving off signals that they’re ready to buy. IP tracking means you could be on that phone within minutes, giving you a real edge over competitors and that all-important ‘perfect timing’.

Refine your MQL Nurture Process

According to Smart Insights, 72% of consumers only engage with personalized marketing communications. When a lead can be identified as an MQL, you are in a great position to reach out to them. If you have visibility on where they are positioned in your sales funnel, adapting and personalizing your communications can be an incredibly effective way to answer questions and showcase your knowledge.

With SQLs identified and ready to go, it is crucial to consider the process in which they are handed over to the sales team. To reduce human error and save time, CRM integrated tools can automate this process – allowing for a smooth transition of leads that your sales team can turn into revenue.

As with any software, the best results will always be achieved if it is being used to its full potential. IP tracking can generate a lot of information, so customizing the system for your own company’s requirements is vital.

  1. Define your qualification process

 As discussed above, start by being clear on your definition of what a good lead will look like and how you are going to qualify them. The most effective way to do this is for sales and marketing teams to have their ideal client defined by a set of qualification criteria, identifying which signals a lead may send out that they are ready to buy.   

  1. Customize and automate

Using your lead qualification process you can set up automatic actions within the IP tracking software, such as Lead Forensics. This includes automatic categorization of web visitors based on key criteria you select, so ‘hot’ leads will be quickly flagged up for example. Also, the setting up of email alerts when certain website visitors come to the site, and triggers for reports and reminders. 

  1. Log in regularly

 Finally, make full and regular use of all the real-time information. For marketing it is a treasure trove of analysis, offering insights into individual marketing activities and content effectiveness. For sales, looking at the daily visitor lists and hottest opportunities and picking up the phone within 24 hours of a lead visiting your website.

Lead Forensics is an industry-leading website visitor identification software that reveals the identity of your previously anonymous website visitors, allowing you to instantly generate business leads. It works by utilizing intelligent reverse website visitor tracking technology with a global database of business IP addresses to track your website visitors, reveal their identity, and notify you in real-time. Users are provided with the business name, contact details of key decision-makers, and detailed analytics of their activity. This way, you have everything you need to reach out to the right person, with the right information, at just the right time. Book your Lead Forensics demonstration today!

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