Everything You Need to Know About Marketing Qualified Leads
Generating MQL during COVID – How can a brand grow at such times?
Times have certainly been hard. With the outburst of a pandemic, practically everything, every sector, and almost every business had to take a blow. But then it was already obvious that the world is going to take a huge shift towards Digital Marketing and Social media management. It is practically time where businesses must harp on the infinite benefits of investing in marketing.
Current market scenario
Unpredictable… but not futile! We could never anticipate how the tides of the market would turn. When the World Bank announced that the recession had hit an all-time low in history, it was definite that businesses MUST market and scale in all possibilities. The change was inevitable (with the progression towards Digital dimension). Where investors and customers had thought the markets would be on the decline, content marketing and intimate strategies are helping several businesses stay alive by lead generation.
What are the challenges some businesses faced?
The real-time problems faced by businesses during Covid-19 pandemic was the sudden pitfall in volume. Companies also had to juggle between strategies, while real-time decisions to close business for a while had to be taken. It is also a challenge to be up and running with the productivity of the workforce. The pandemic pushed everyone inside and forced them to re-strategize.
- Apple faced a huge blow as regions of China dedicated to manufacturing iPhones were hit by the virus. It resulted in a 10% reduction of forecast iPhone shipments.
- The pandemic was detrimental to Tech conferences which were about to happen globally. One of the most looked forward to conferences – Mobile World Congress – had to be canceled over fears of coronavirus. Several companies had to reschedule.
- Similarly, Google had to shift the GCN event – Google Cloud Next – online.
- IBM had to live stream Developer’s conference. All the conference cancellations resulted in approx $1 billion of direct economic loss.
- The push towards virtual communications and online businesses brought about a quicker need for 5G technology and its careful adoption for the long term.
The above challenges were presented with a question for which there needed an answer – which was online presence and communication! Marketing Qualified Leads is the new saviour for several businesses! Let’s take a look…
What is an MQL(Marketing Qualified Leads)?
They are Leads (meaning expressed interest) that show potential interest in the brand or business. Often coming from the customer itself, it is a result of intentional engagement which promises more than other indirect Leads. The engagement could be anything right from signing up for offers with contact information to consistent visit to the website. Apart from that, you get a more comprehensive list of leads with critical information like Lead Scoring, Demographics, Product Delivery, and Analytics.
An MQL works by active interest. The best example of it would be a customer window shopping or checking out products of a store. Leads can be any person just walking by. MQL marketing does not necessarily turn in a successful customer but the chances are high!
What are some of the core elements of an MQL?
First Time Visit – If anyone visits your website for the first time, they are an MQL. It usually takes some more time before they go down the marketing funnel towards sales.
Conversion rate – Any individual who has reluctantly only gone through one or probably two contents in your website, then they are an MQL. Repeated or further progression in downloads of forms or content makes them an SQL.
Lead Demographics – Behaviour pattern of the person, potential customer engagement, company, industry, job profile, personal information, persona, budget, etc can also be used to determine if the individual is an MQL or SQL.
Lead Scoring – Assigning a value or score to the qualified lead is crucial as the sales team can navigate the person to make a purchase or assign to the service accordingly! Whether or not it becomes a sales qualified lead would be the next stage.
Benefits of Marketing Qualified Lead
Generating leads can’t be achieved by a business through aggressive persuasion. An individual has to show an interest first. But before all of that, the person reaches your business through the advertising and marketing efforts you put in. This can be achieved by companies, especially during economic downfalls, by implementing MQL Marketing in 2020.
Times have changed and your brand should use MQL to generate more sales than ever. Be it any niche, industries have gone online, and the biggest strategy to invest in is – online customer lead generation.
Tapping into markets with newer strategies with MQLs has opened up an entirely new possibility of doing business. One can work very closely with their niche industry and create more intimate customers than ever. How? Covid-19 has changed customer buying behaviour. People look forward to making a mindful choice while subscribing or buying. The more value you offer, the higher your chance of getting business.
Some strategies to generate website or sales leads
Cold Calling – Brands can get on good old cold calling to generate. Businesses are in more need of clients rather than having it the other way around. Sometimes customers are just waiting for your call.
Intent Marketing – Researching what your client wants and offering them their needs is the best way to go about business during economic downslopes.
Referrals/Word of Mouth – Old clients never really become old, do they? One can always reach out to their old clients and talk business by rewarding them something for the quality exchange.
Digital Advertising – It is clear that now is the time to execute digital advertisements. Make the best use of Digital Advertising tools for demand generation. If you don’t wanna spend much, implement organic campaigns in a strategic way to get attention and traffic.
Content Marketing – Generating leads during COVID through content marketing is a very efficient investment for future economic and business trends. Brands need to grow their online presence.
Webinars – … bring the party home. Brands can conduct industry-specific webinar sessions and acquire more clientele.
Why should brands focus on MQL during COVID?
Improved Revenue – Closing rates of sales qualified leads is efficient for any business.
Time Efficiency – The entire process of acquiring a potential customer and walking them through the business and finally landing them as a client is time-consuming. MQLs save time as salespeople get a headstart instead of doing everything from scratch.
Generating Brand Awareness – It’s time brands focus on creating brand awareness through content marketing. Virtual is the way to go!
A productive end goal – Sales and Marketing works smoothly when lead generation and qualification process are well defined. It generates more productivity from the team as well.
MQLs are a proficient way to get customers and sales during COVID. It focuses more on the immediate, intimate, and needful aspects of customers rather than persuading them mindlessly with continuous campaigns. All brands must invest wisely in creating an MQL strategy. It will be the next defining foundation of business nature in the coming decade.
While you can create a plan of your own, how about we help you cross that bridge? At DealsInsight we focus on maximizing ROI of clients with specific accounting teams and well laid out blueprints to generate leads.
Let’s build a better future together, one lead at a time.