B2B Lead Generation MQL vs HQL - Which one should you go for?
Lead generation is an important process for smooth operations of B2B companies. These leads help in gaining the market share along with building revenue in every consecutive business quarter. In the entire sales pipeline, it is necessary to classify the leads. This helps in designing different strategies that can be appointed for nurturing leads.
SQLs and MQLs are broadly used across the B2B domain. In this blog, we will talk about yet another form of lead.k.a. HQLs (High Quality Leads). To start our journey, let's hop on the ride to understand what high quality lead basically means.
Every sales team has a large in-house database that contains details about leads. If the leads do not agree to be contacted, then they are deemed as low quality leads. It must be notated that low quality leads should never be considered insignificant. With right nurturing, they can be transformed into high quality leads for the next campaign (or project).
What is a MQL?
A Marketing Qualified Lead (MQL) is a lead who has indicated interest in what your brand has to offer (based on marketing efforts). These leads have a higher probability to become a customer than other leads.
What is a SQL?
Sales lead can be defined as that form of prospective customer that has been researched by B2B sales teams. After this, it is deemed ready for the next stage in the sales process.
How can we differentiate between MQL and HQL?
High quality leads show readiness to buy products and services. They are eager to connect with the sales team to seal the deal.
HQLs are basically the decision makers who have the authority to make decisions. They know about their problems in a detailed manner and find your product (or service) as the perfect solution.
These forms of leads know that leaving the problem unsolved will prove to be a negative point in the near future. They have a ready budget for buying the products and services. Moreover, they are ready to communicate with the B2B sales team.
Despite the fact that HQLs may think about you as a likely merchant, this isn't an assurance that they will purchase from you. You actually need to place in some work to ‘wow’ each and every lead. The lone contrast is that they are much nearer to deciding on buying as compared to others.
Ity must be noted that Marketing Qualified Leads are positioned lower than Sales Qualified Leads in light of the fact that regardless of whether they have shown interest to purchase through activities, for example, downloading, placing things in the cart, clicking an advertisement, or requesting more data, it isn't ensured that they will need to take your relationship further. Until they are available to hear more, you need to support them through promoting strategies, for example, content partnership. This helps in keeping them hot until they transform into a HQLs.
Process of filtering out
It all starts with building leads lists and then communicating with them. This way, the sales representatives get an idea whether the leads want to go ahead or not. Prioritizing the leads as per their interest helps in pacing the way for a reliable sales pipeline. This is an essential step, especially in the B2B segment where the sales pipeline continues for months (or even years) before reaching their final stages.
Tasks of sales teams include boosting ROI. For this, they need to coordinate with the marketing team.This helps in finalizing the goals and the methods of approaching. It is a well known fact that the prospects neither know how to solve their problems nor about your brand. This is like a tough situation, but acts as a rope between the starting point and the finish line. Choose wisely and achieve emerald heights in the offing. Also, a nurturing program builds a positive image in front of the stakeholders. This also acts as a word-of-mouth publicity for the brand in the existing market.