Why is getting high quality leads for the sales teams so hard?
Our empirical evidence comes from talking to several hundred vendors over the past couple of years. From these discussions a clear picture develops:
- Lack-of-access – difficult to identify and reach the right people inside of the organization, especially to build relationships with multiple stakeholders
- Wrong messaging – the content of the marketing effort is not generating the right urgency and interest from the prospective customers
- Frequency – it is hard to reach your prospective customers at the right frequency and at the time when they are receptive
Five ways to ensure you get the right MQLs
Here are some simple tips that will help you overcome the challenges above and get the right MQLs:
- Compelling content that focus on two simple areas: problem areas for your prospective customers and references from similar types of customers/verticals where you have solved similar problems
- Try to engage multiple stakeholders within the organization across multiple functions. The challenge is turning the unengaged to engaged
- Find an appropriate frequency of communication of your compelling content; perhaps by using technology like marketing automation or account based marketing
- Longevity and timing – what is priority five today for your prospective customer, could be priority one in three months and that is when your time comes!
- Simple process for collecting customer interest: uncomplicated sign ups, contact information and measuring web traffic including which companies show interest
Turning your MQL into excellent SQLs
The critical question is getting high quality MQLs for your sales teams like a telemarketing team to turn into a SQL and determine:
- Does the customer have a real problem and need for what we offer?
- Does the customer have a budget, or is there a clear path to get a budget?
- Does the customer have a critical timeline to fix the problem?
- Do our contacts have decision-making power or they just influencers?
If you have done a proper job in collecting your MQL, the conversion to SQL should be rather high, and your sales teams will have highly valuable leads to pursue.
What should you measure?
Ultimately it is the revenue and margin you generate from your marketing efforts that matters. However, in order to measure your demand generation value chain contribution to this, you can perhaps look at a few areas:
- The conversion rate of MQLs to SQLs provides an indication of the effectiveness of your initial demand generation efforts
- The total number of contacts within your prospective customers you have generated indicates your ability to influence the buying process
- Ideally your systems like CRM should have the ability to track the MQL to SQL to invoice so everyone can see the end results
- Calculate your acquisition costs from MQLs, SQLs to your ultimate sale. What was the cost of the sales transaction from a marketing perspective?