Enhance Conversion Rates: From MQL to Closed-Won Success

From a Marketing Qualified Lead (MQL) to a closed-won deal is often a long road with a lot of heat and obstacles. From leads to conversion is a long hassle but yes, it is the core business, and one can’t just avoid the struggle.

So, how do you face it? Well, the answer lies in the alignment of MQL’s and the sales operations and how do you get to begin doing it?

Let’s start with…

Understanding the MQL to Closed-Won Journey

Strategies must be well understood before diving into it, what makes an MQL and the steps involved in turning these leads into closed-won deals.

Marketing Qualified Lead (MQL): When any of the prospects comes into your way via any of your marketing channels, but they have not yet talked with any of your sales representatives, then those prospects are called MQLs.

Sales Qualified Lead (SQL): Hot leads or warm leads, whatever are in the hands of sales team with the high potential of conversion are nothing but the SQLs.

Closed-Won Deal: The point where you have won a deal and converted a lead into someone who pays for the product/service.

Strategy 1: Aligning Marketing and Sales Teams

Companies with strong sales and marketing alignment experience a 20% annual growth rate compared to companies which lack this alignment resulting in a four percent decline of revenues per annum according to HubSpot’s report.

Shared Goals and KPIs: Every department should have shared goals between each other and understand what matters most to their counterparts as far as KPIs are concerned. Holding regular meetings while providing collaboration platforms can foster this kind of integration among teams.

Feedback Loops: Creating feedback loops where marketing can adjust strategies based on quality of leads informed by sales reps.

Strategy 2: Using Personalized Content to Nurture Leads

When you interact well with the prospect with the right content, it surely helps you get your hands up to convert that lead.

Buyers viewed 3-5 contents before approaching a sales rep, according to OnlyB2B that is 47%.

Segmentation: Divide your leads into different groups based on their habits, sociographics and demographis and provide customized messages.

Automated Workflows: Use marketing automation tools so as to send personalized emails and contents at the right time that will keep the leads interested and progress them through the funnel.

Strategy 3: Data Analytics

It provides near to flawless insight into lead behaviors and preferences, allowing you to make favorable decisions.

Lead Scoring: It gives give you right indication about prospects likelihood of conversion purely based on their engagement level. With this you can easily evaluate SQL’s out of MQL’s.

Behavioral Analysis: Using analytics to track lead interaction with your website, emails and other content assets really helps you track leads to nurture.

Strategy 4: Implementing Account-Based Marketing (ABM)

Rather than bombarding your campaign abruptly on the audiences, just focus on high-value accounts and that is account-based marketing. According to Rollworks, 87% of marketers say ABM is the only strategy with which they’ve generated maximum revenue.

Targeted Campaigns: Set a campaign live which is relevant and targeted to a specific account only. That’s how you develop a personal relation with the prospect.

Sales and Marketing Collaboration: ABM requires close collaboration between sales and marketing teams so that they can be able to identify target accounts and tailor strategies accordingly.

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