There are a number of differences between marketing qualified leads (MQL) and sales qualified leads (SQL). Each of these differences is important to consider when analyzing how your leads affect your sales and even your existing marketing strategies if they’re working or not. Suppose you’re developing your next marketing campaign—you have to know if you’re creating more MQL than SQL or almost an equal number on both. In that case, you need to make sure that you know the distinct differences between MQL and SQL.
Below are major differences you should be aware of:
1. Marketing and Engagement
When talking about MQL vs SQL, it’s crucial to know the differences between the two, which can significantly affect leads. Marketing qualified leads are leads generated by companies with a proven track record of success. These leads are still being encouraged during the marketing period, wherein they are sales-ready but aren’t prepared to buy products or avail of services yet. The goal of this type of lead generation is to gain high-quality, targeted leads through the use of multiple channels that are all designed to increase sales.
With the sales-qualified lead label, this type of lead has gone past the engagement stage, making them a prospective buyer. An SQL is now ready to be pursued and converted into a full-fledged customer.
2. Readiness For The Next Step In The Sales Process
An SQL is ready for the next step in the sales process. This lead has displayed intent to enter a business transaction, such as purchasing a company’s products. An MQL has met the lead qualification criteria of the company that determines whether a customer is the right fit.
3. Lead Scoring
Lead scoring is an essential aspect of identifying MQL and SQL. It aims to strengthen your revenue cycle. However, this method is only effective when both marketing and sales work together. With lead scoring, it lets you designate value to each lead (MQL or SQL) based on the details they have provided and how each lead has engaged your website.
Lead scoring helps identify which leads to target. Generally, SQLs promote greater sales. They are more likely to be your highest priority, given a higher lead score because of their engagement and willingness to buy your products or avail of your services.
Here are the three reasons why lead scoring is important:
- It prevents your salespeople from bothering leads before they’re ready to purchase.
- It determines which leads need more lead nurturing or encouragement from your marketing team.
- It allows your sales team to easily identify SQLs or leads who are ready to purchase.
4. Business Tools And Marketing Strategies Used
Marketers use different business tools to help sort MQL and SQL. Because MQLs are not ready to make a purchase yet, they need a little push to become SQLs. Business tools can be used to accomplish this goal, including search engine optimization (SEO) and content marketing tools.
MQLs must realize that they need your products and services, and the better way to do it is to become highly visible online through SEO, along with content marketing.
On the other hand, SQLs would need follow-ups to finally make a purchase, like via email. Using email to follow up on leads is part of the lead generation process. It allows you to build an email list that can be used to market your products or services. As a result, you can grow your business more effectively and attract more customers to your website and make more sales.
Here are some tips for email marketing for SQLs:
- Before you start using email to follow up on leads, you need to make sure that you have the right information about your prospects to successfully do so.
- Personalize the emails by including the prospect’s email address in the subject line of the email. Then, you need to provide contact information such as the name, address, and phone number. You should also add a short message, which is called an autoresponder message.
- Once your autoresponder messages are ready, you should use it for all your lead-generation efforts. The autoresponder should send out emails on a regular basis. As soon as someone subscribes to your email list, you should send them a follow-up email.
- When sending a follow-up email to a prospect, you must remember to provide them with what they want to know. For example, if you send out an email to a person interested in your product, it’s best to tell them what the benefits are and why they would want to buy your product. Also, let them know what the product has to offer.
- In addition, you should make sure that you have an answer to their question in the email follow-up. Make sure that you give them something valuable to read in your follow-up message. Don’t forget to include links to your website so they can learn more about the benefits of the product and get more information from the product owner.
5. Differences In Audit Results
One important aspect of identifying your MQLs from SQLs is auditing. Based on customer management relationship software audits, you’ll find remarkable differences in user actions, such as SQLs leaving their items on their shopping cart. For some reason, they couldn’t push through with the final payment. This is when your sales and marketing departments need to collaborate and find out what’s hindering SQLs from completing a sale.
MQL vs SQL can be a confusing topic. But now, you have just learned the difference between these two types of leads, which can help you better position your brand through offline and online marketing strategies.
While MQLs have shown their intention to purchase a product, they’re not just fully ready yet to process a sale. On the other hand, SQLs were already oriented on the features and benefits and are willing to complete a sale, needing just a little push from your sales and marketing team.