And if you haven’t read those posts, the quick of it is marketing delivers leads that may not be ready to buy now. So, in their minds, they’ve done their job. Then, sales gets the lead, and the lead isn’t interested in buying. They can’t meet their quota, so they understandably jump to the logical conclusion that it’s marketing’s fault for not delivering better quality leads.
When both departments are on the same page, you have a much more predictable revenue stream. Here’s how to go about defining a better MQL to SQL process at your business:
1. Have a Discussion & Don’t Assign Blame
Trying to figure out who’s fault lead quality is only makes your business stagnate, or worse, go backwards while your competitors snatch up those leads. Instead of figuring out what the other department’s doing wrong, determine where your own responsibility lies.
Department leaders should facilitate a discussion within and between their departments. Each should identify what they can be doing better to improve the demand and lead generation process improve.
2. Areas Marketing Can Analyze
Marketing should check out all the different analysis one of its lead can possibly complete before they can become a customer. Look for the activities which have the highest close rates.
You’ll notice a few activities with a much higher close rate than others. Those are definitely MQLs to deliver to your sales team.
Now, you have to determine if those leads are enough for your sales department to generate the revenue your business needs to grow. If that’s not the case, work with marketing to figure out how to generate more MQLs from your top-converting sources.
3. How Sales Can Help
What makes up a SQL? Your business has to answer that question for itself because each has its own idea of the “ideal customer.”
Even though sales is a different department, it should view itself as a partner with marketing. Ask your sales team what they experience when talking with the leads, and they’ll definitely be able to provide some insight to the problem. And don’t forget, sales may have some improving of its own to do.
Either department could experience lead issues like:
- The lead has no decision-making power
- They’re simply not a good fit for your product/service
- Inconsistent promotion of your value proposition
- Unclear website navigation/conversion funnel
- Online forms that request too much information
- Leads aren’t properly handed off to sales
- Poor lead management/follow-up
- Slow response time to leads
If you can get sales and marketing on the same page, your company will access previously untapped revenue sources and achieve its full potential.
And what business doesn’t want that?
Don’t Forget to Visit us at the Sirius Decisions Summit 2014!
That’s right – we’ll be there next week! Come find us at the Hyatt Regency in Orlando. We’re in the Marketplace at Booth 44!