MQL (Marketing Qualified Lead)

As sellers or business owners, people realise that not everyone who visits their website will purchase from them. Sometimes, people back out in between the marketing funnel. This could be at any stage before the purchase. While there could be many reasons for this, businesses focus on people who are more likely to be MQL (Marketing Qualified Leads).

It is a term used in marketing and sales to describe a lead that has been deemed more likely to become a customer compared to other leads. These are typically identified through lead scores based on demographics, behaviour, and engagement with marketing efforts. Once they reach a certain score, they are qualified to reach the purchase stage. At this stage, they are passed on to the sales team for further nurturing and conversion into a customer.

MQLs are an important metric for marketing teams as they help prioritize leads and focus efforts on those that are more likely to convert. By identifying and nurturing MQLs, businesses can improve their conversion rates and overall sales effectiveness.

How does MQL scoring work –

MQL scoring is the process of assigning a numerical value or score to leads based on their attributes and behaviours. This scoring helps marketing and sales teams prioritize leads and focus their efforts on those most likely to convert into customers. Let’s understand how it works –

1. Start by defining the criteria that indicate a lead’s readiness to buy a product. This includes demographics like website visits, email engagement and so on.
2. Assign point values to each criterion based on its importance and relevance to your business. For example, if someone has added items to their cart then they are more likely to purchase products from you.
3. As leads interact with your marketing efforts, track their activities and assign points accordingly. For example, opening your website might earn them 10 points, while adding your product to their cart might earn them 20 points.
4. Determine the threshold score at which a lead is considered an MQL. This threshold can be based on historical data or adjusted over time based on the performance of your leads.
5. Once a lead reaches the MQL threshold, they are passed on to the sales team for further nurturing and conversion into a customer. Marketing teams can continue to engage with MQLs to keep them interested and informed.
6. Regularly review and adjust your scoring criteria and thresholds based on feedback from the sales team and the performance of your leads. This helps ensure that your scoring system remains effective and aligned with your business goals.

Wrapping it up –

MQL is a scoring system that will help you understand which lead can turn into a customer and which will drop in between. This can be calculated based on point. These points are added according to the customer behaviour and their demographics. Furthermore, this will integrate the business into understanding which customer to hand over to the sales department. Email marketing and drip campaigns will be sent on the basis of this score.

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