3 Major Benefits to Embracing MQLs
“Everybody’s working for the MQL!” Ok, it might not be as catchy as Loverboy’s “Everybody’s working for the weekend!” but we still can’t help but sing it loud!
Just like bands work to create hits for the dancefloor, marketers work to generate marketing qualified leads (MQLs) for their companies. They may do a little dance every time they get an MQL too – no judgement here! MQLs deserve at least a toe tap because they’re so important to marketers. In fact, 70% of marketers say improving lead quality is their top priority, and embracing MQLs is the way to do it.
What are MQLs though, and what can they do for marketers? MQLs are the folks who want to know more about your solution and how it can help them be better at their jobs. They’re not ready to buy yet, but they are certainly ready to learn more from you and your company. MQLs are more likely to convert to sales qualified leads (SQLs) and then to customers – making all your stakeholders happy too! (Will they do a jig? Report back, please! Videos are even better.)
However, there are many reasons to implement MQLs into your lead generation strategy beyond what we mentioned above. Here are some of the other benefits of prioritizing MQLs:
Improved efficiency and less wasted resources
According to industry research:
Companies don’t like spending precious resources pursuing low quality leads as they create hurdles and extra work for marketing and sales teams alike. Rather, pursuing MQLs is a much more efficient way to generate revenue. MQLs save both marketing and sales teams a lot of wasted time, effort, and money because they’ve already been vetted against qualifying criteria and have shown genuine interest in learning more.
Closer sales and marketing alignment
According to SiriusDecisions, B2B organizations with tightly aligned sales and marketing operations achieved 24% faster three-year revenue growth and 27% faster three-year profit growth – so it’s no wonder many companies talk about how they need to align their sales and marketing teams. Fortunately, defining the criteria for what makes an MQL vs. SQL can help. By formalizing the criteria and the lead handoff process, the chance of sales folks pursuing leads not ready for them is lower, which also eliminates confusion and frustration for both sales folks and prospects. With that, sales and marketing teams can instead focus on working together to win over customers and generate revenue.
Better content marketing
MQLs give content marketers a better idea of who they need to target with their content. Armed with defined targeting criteria, they can create content for every stage of the marketing funnel and smooth the path to purchase.
So, do you want to nurture leads who haven’t met the qualifications to be an MQL, or would you rather focus on those with real buying potential? By prioritizing MQLs, you’re setting yourself and your company up for success beyond revenue, and for all intents and purposes, we think that’s worthy of a jaunt on the dancefloor. Don’t you?