If 94% of B2B buyers are doing research before contacting any sales reps, how are you planning your SQL strategy?
One of the most important things in B2B sales and marketing is Sales-Qualified Leads (SQLs), often called the golden ticket towards closing deals. These are leads that have gone through a process of scrutiny and have been qualified for direct selling.
However, several misunderstandings can blur their real nature and affect how effectively they are handled. So, let us debunk some common myths about SQLs to help you refine your lead management strategy and improve your conversion rates.
1. SQLs Are Always Ready to Buy
Myth: The prospect is ready to buy, and a pitch will close the sale.
Reality: Although SQLs are more advanced in their buyer’s journey compared to MQLs, it does not mean that they will buy now. Research shows that 70% of B2B buyers do not want to engage with a salesperson until they get ready to buy something.
This indicates that despite their readiness SQLs often require more nurturing as well as targeted engagement before they can commit themselves. For such sales strategies to work out, however, relevant information should be given to them, addressing their concerns and ensuring that there is an informed decision made by an informed person.
2. SQLs Have a High Conversion Rate
Myth: Once a lead becomes an SQL, the possibility of turning it into a sale is high.
Reality: However, conversion rates are not guaranteed even when the prospect qualifies as an SQL. The conversion rate is affected by several factors including leads’ quality, the sales team performance and time its takes to engage in sales.
Sales teams are therefore encouraged to continue nurturing their SQLs through personalized strategies addressing the specific needs of such prospects hence enhancing chances of conversions. Passing from being an SQL to a closed deal involves strategic thinking and persistent actions.
3. SQLs Are Identified Using a Single Metric
Myth: There is one universal metric or criterion that clears out whether leads are good enough to be considered as SQL
Reality: Different organizations and industries use different set of standards for qualifying who among their leads is an MQL. For some companies, being an SQL could mean performing certain activities such as requesting for product demo or downloading expensive whitepaper.
Other organizations may adopt a lead scoring approach which consolidates factors like firm size, budgeting allocation and how engaged the leads have been so far. It is important that you tailor your unique business requirements along with customer profiles for effective lead qualification and conversion of the same into customers thereby ensuring successful sales processes.
4. SQLs Are Only Found Through Direct Sales Efforts
Myth: SQLs can only be generated through direct sales outreach and interactions.
Reality: SQLs can also emerge from different marketing efforts and inbound strategies. A research by MarketingProfs show that 94% of B2B buyers prefer making their research, gathering relevant information before inviting a salesperson.
This indicates that quality content marketing, target advertisement, as well as a good landing page optimization could produce potential leads that become SQLs. A comprehensive strategy combining both inbound marketing and outbound sales is more effective in generating and qualifying leads. By using content and engagement strategies, one can attract and qualify those who are already interested in what he has got.
5. SQLs Are Uniform Across All Industries
Myth: SQLs display the same behavioral aspects and requirements irrespective of different sectors.
Reality: SQLs can often vary by industry, company size or type of product/service being offered. It is clear that there may be great variations in lead qualification criteria across the industries. The nature of decision-making process, budget constraints or complexity of the solution offered all play a role in determining what an SQL is.
Another example is when comparing a lead in the technology sector with that of a manufacturing sector, it is distinct of what a prospective client’s needs are and how they behave. Understanding these industry-specific differences and designing SQL criteria based on this knowledge will help improve the usefulness and efficacy of your lead qualification process.
To sum up with,
Clearing up such misconceptions about SQLs can go a long way in improving your approach to lead management and sales. However, it should be noted that even though SQLs may be effective for one individual, they may not work well for another because different people have different ideas.
Nevertheless, one has to consider the fact that Sales Qualified Leads may not always convert at once; conversion rates cannot be guaranteed and qualifying standards may vary. But to improve your SQLs to closed prospect deal, connect with us at Vereigen Media now!
By Akash Bhagwat
