Most probably, any company especially startups will talk about Sales Qualified Leads (SQL’s) and Marketing Qualified Leads (MQL’s) if a question like “how they generate new customers to their business?” is asked by a customer. But, do you know exactly what are they?
Know the Difference Between the Two
Marketing qualified leads are the website visitors who have a great possibility to become permanent customers of your company; whereas sales qualified leads have gone a bit more forward when compared to SQL’s. These frequent visitors have a tendency to actually buy the product/ services from you.
A Common Misunderstanding Amongst Many
Many instances must have happened in your digital marketing company where an unknown user clicked a submit button in the contact page or clicked the “Book Now” button accidentally which you mistake as a lead. When a lead is converted into PQL, it will help you to know their interactions with your website who might be in search for form submission or knowing the complete details of the product or services. This enables to figure out whether they are willing to buy or not.
According to several B2B sales process studies, it has been reported that only 13% of the MQL’s later on turn to SQL’s. Is there any better way than this? Fortunately, there is a better qualification framework that brings active leads and requires only less effort to close deals and give better long-term customers.
It’s none other than Product Qualified Leads (PQL’s)
PQL for lead generation is a bit easier as it utilizes the technique that understands an app behaviour to identify when a lead is fit to buy a product/ service with precision. This can be sorted out as a pre-sales hacking mechanism that recognizes how users engage with your product. Notably, it is an actionable insight which shows that the users have reviewed and found the value of the product which tempts them to purchase it.
How to Identify Product Qualified Leads?
As we mentioned above, finding a PQL requires to understand the app behaviour that gets synced with the action of the user and help us know when the products/ services are ready for sale. For an online marketing agency, with the help of various growth hacking tools, it is easy to correlate the user behaviour with that of the demographics data to know the likelihood of buying the product.
It completely automates the sales growth, minimizing the manual intervention. Our SEO growth hackers utilize different mechanisms to retrieve the complete details of the qualification status of the entire leads. However, working on the presales process will be a tough job if you are following manual method.
Converting PQL’s into Permanent Customers
Product qualified leads enable the users to know the worth of the product before buying them and this digital marketing strategy is way better than forcing someone to purchase a product. As we mentioned in the third para about the users who accidentally clicks on any of the CTA (Call To Action) areas in your website, utilizing PQL can help to analyze how they are using your product and you can able to run the sales promotion accordingly.
Our Final Words
Switching to product qualified leads from sales and marketing qualified leads can definitely give a boost to those who are struggling for lead generation and can help your sales reach to close deals within a short time. Is your online marketing business lacking the targeted number of leads? Maplitho utilises growth hacking marketing strategies to improve the incoming of PQL’s to your business and enhance the sales funnel. It’s your turn now!