In the last post in our B2B growth series, we discussed demand generation and why it must precede B2B lead generation. So, in this post we’ll talk about taking that next step and how B2B marketers can identify prospects and convert them into leads.
MQLs to SQLs
A good demand generation and content marketing strategy will be ready to turn interested visitors into marketing-qualified leads (MQLs) throughout every level of the buyer’s journey. There are a few ways of identifying MQLs such as:
- Repeated visits to your website
- Filling out forms
- Downloading content
- Signing up for an event
A list of MQLs is handed over to the sales team periodically to qualify. MQLs that respond to initial outreach efforts become sales-qualified leads (SQLs). A healthy conversion rate of MQLs to SQLs is around 13 per cent. From there, the conversion rate from SQL to win is approximately 6 per cent. If that seems like a low number then it reiterates the importance of demand generation and maintaining that steady flow of MQLs.
It’s important to also note that the SQL to win rate can differ significantly depending on the type of lead. Customer and employee leads convert at nearly 15 per cent, social media at 8.5 per cent, and email a little under 8 per cent.
A recent report showed that the top three barriers to lead generation are:
- Lack of resources
- Lack of high-quality data
- Lack of sufficient insight into the target audience
Those last two are both data related. One way to boost that SQL to win conversion rate is to improve the quality of the MQLs. You don’t want your sales team wasting valuable time chasing down low-quality leads.
A best-in-class customer relationship manager (CRM) system tracks all past customer interactions and movements and can forecast the likelihood of conversion. It also provides information about a lead’s web presence, social media activity, and renewals of existing subscriptions. This level of insight enables powerful opportunities for personalization. Further, the CRM dashboard allows team members to measure the results of interactions and view how close leads are to conversion. Leads can then be prioritized.
And the great advantage here is that this can all be done automatically with AI, eliminating the time and effort of manual data entry. Unsurprisingly, over 80 per cent of companies swear by CRM to determine the quality of leads.
We Know Your Industry
As a growth marketing agency, we have the knowledge and skillset to grow your B2B lead generation. Our data-driven and customer-centric philosophy informs the way we approach all digital marketing tools including content creation, social selling, website design, and more. We understand your buyer persona and ensure they’re always front and centre.
To learn more call 1-866-507-8275 or visit our website.