When it Comes to Lead Generation, Less is More
Lead generation is the lifeblood of any business. Everyone knows that. It’s why businesses are furiously writing content, keeping active on social media and doing all they can to connect with prospects
So why is it, with all the effort these businesses are pouring into marketing their products, that some conversion rates are so dismal? It comes down to understanding the difference between a marketing qualified lead (MQL) and a sales qualified lead (SQL). Once you understand the difference between these two types of leads, you will understand another very important truth: you can almost always generate more revenue with fewer leads.
Not every lead is ready to buy – in fact, some are simply not a good fit for what you are selling. So even if you have more leads, that doesn’t equate to more sales. In other words, when it comes to leads, sometimes less really is more (especially when it comes to marketing qualified leads).
If a business is struggling with conversion rates, chances are they are failing to note that inquiries and leads are not synonymous. They also may be ignoring a basic tenet of lead generation – never contact a lead until you know that lead is truly interested in what you are selling.
MQLs and SQLs can both convert into sales, but understanding which leads need to be nurtured and which are ready to buy is critical for sales conversions. MQLs are engaged, but not ready to buy – and it may take more time than you think for them to get to that point. However, that doesn’t make them any less valuable. Patience is a virtue and that is especially true when it comes to lead generation.
Once an MQL has worked its way through the sales funnel, it is time for that lead to graduate to SQL. This is when the alignment of sales and marketing is so important. Marketing does the job of making sure a lead is sales-ready and passes that information along to the sales department. Only then can then can sales conversions take place.
When you pour a lot of time and energy into marketing a product, it is only natural that you think any bite will lead to a quick sale. Unfortunately, this is not how it works. A lead must get to know you and your business before they are willing to buy your product. And the more significant the purchase, the more that lead will demand of you before they are ready to commit.
At Tactical Telesolutions we use data-driven solutions to create and implement lead generation and appointment setting campaigns that serve the needs of both sales and marketing teams. To learn more, give us a call at (800) 700-7422 or visit us at tacticaltelesolutions.com.