Marketing Qualified Lead (MQL) or Sales Qualified Lead (SQL)? It’s a common question, and an important one to answer correctly in order to best nurture your business’ leads.
The terms “MQL” and “SQL” are often used interchangeably, as they both describe a crucial marketing and sales stage in the lead generation cycle.
In reality, MQLs and SQLs have different but complementary roles depending on whether they’re sourced from marketing campaigns or from leads from other channels.
But just what do they mean, what is the difference between the two, and why does their differentiation matter? This blog will provide the answers to these questions. First, let’s establish what a lead is.
What Is a Lead?
An individual or business that has expressed interest in your product or service is defined as a lead. How do we consider someone a lead? If someone who came across our business expressed their interest by giving their contact information, that makes them a lead.
As a business owner, you might think that the number of leads is the only metric that matters.
However, every potential customer is at a different point of the sales funnel and requires a targeted approach to convert into a paying customer. Based on statistics, 79% of marketing leads do not convert into sales because companies fail to implement the right tactics.
Before we provide a definition for a MQL and a SQL, let’s also define the stages of the buyer’s journey. This refers to the entire experience a customer has while interacting with your brand.
The 5 stages of the buyer’s journey include Awareness, Consideration, Retention, Decision, and Advocacy. Comprehending the particularity of each stage provides valuable insight and an effective lead generation strategy.
What is an MQL?
The MQL/SQL process begins after the lead generation stage is complete. This includes everything from developing quality marketing assets like blog posts or infographics to creating enticing offers for users who visit your website.
For example, if someone provides their email address in exchange for this content, they become an MQL. It includes any data either requested by a lead magnet or obtained through online forms and email capture.
What is an SQL?
The SQL stage begins when a potential customer becomes interested enough in your business to give you more information and make contact. That can be through a sign-up form or by calling your sales team directly to ask for additional information.
These leads are generally more engaged than the people who gave away their email addresses for a free trial or product, and as such, they are more valuable.
MQL vs SQL: The Main Difference
The major distinction between a Marketing Qualified Lead, and a Sales Qualified Lead is the intent to buy.
In a previous blog, we covered what it takes for your sales funnel to be successful. A very important thing to keep in mind is nurturing the relationship with the audience throughout their customer journey. Here is an example to reveal what differentiates the two terms.
An MQL is a term that describes a potential customer in the “consideration” stage of their buying journey.
This individual has expressed an interest in what your business offers, but they are still not ready to commit to a purchase. This marketing team considers this type of lead more likely to become a customer than others.
While an MQL might be a lower-quality lead than an SQL, it also provides more information about their needs that can be used to generate more leads. However, they often require more investigation to gather the information you need about their demographics in order to pass them along to sales.
An SQL defines an individual closer to the “decision” stage of their buying journey. The sales team vets this type of lead and deems it if it’s ready to complete a purchase.
A solid MQL will include a few pieces of key information that are added when they register on your site through an email capture form or other marketing tactics. The sales team can then get in touch with them, pitch their services, and close a deal.
Takeaway
Knowing the difference between the two is crucial for both the marketing and sales department of a company. Defining each lead and pinpointing whether it is MQL or SQL will ensure the effectiveness of the marketing efforts and increase sales.
Companies need to realize the importance of both the MQL and SQL terms and define their sales funnel goals accordingly. Defining qualification criteria and exchanging data collection enable efficient collaboration between the departments.
Check out our blogs to learn more about how to grow your business.
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