Aware of Sales Qualified Lead (SQL)? But, now you have to be surrounded by it because it can positively benefit your business. When you are aware about whom you need to focus on, you efficiently generate leads into customers and it’s a key to success.
The main focus of SQLs is to convert leads into customers and offer them a better customer experience.
This FAQ will discuss the basic concept of Sales Qualified leads (SQLs) and their importance. Additionally, we have focused on the comparison of SQL vs. MQL- to know the good one.
One of the prominent phrases is ”It’s always quality that matters over quantity”.
Sales Qualified Leads
A prospective customer who expresses interest in buying a product/service from your company is called a sales-qualified lead or SQL. It has a high potential power to convert into a final purchase due to its serious intent ability.
One of the highest probabilities which make your product to be easily sold out is through one and only “a sales qualified lead”.
“It’s ready for conversion into a sale or a full-fledged customer, According to Tech Target”
They are the leads who have been qualified by the sales team as a golden opportunity and then slightly moved into the sales pipeline.
Before they get ready to purchase from your company, SQL goes through several processes and has to meet some specific criteria, which are;
- Felt need for your product/service
- Shown positive interest in your company’s product
- Having an essential amount of funds for making purchases.
Importance of Sales Qualified Leads
SQL is one of the most essential steps in the sales process. The benefits of qualifying leads are significant and can positively influence your success level. By qualifying leads, your company focuses more on time and additional resources, which are more likely to help you convert customers into buyers of your product/services.
SQL enables you to understand the lead’s specific requirements and preferences. That’s why sales-qualified leads are considered a valuable tool for ensuring that your sales team targets appropriate customers during their purchasing process.
Thus, SQLs matter for the efficiency level and success rate of your sales which ultimately leads to the growth of your business.
Let’s go through a few bullet points for a better understanding of its importance;
- As you avoid additional expenditure on leads, for conversion, SQLs result in cost savings for your business.
- Higher probability of converting leads into paying customers.
- Ability to build strong relationships with customers leading to long-term customer loyalty.
- Working towards the achievement of top-level revenue goals.
- Identifies and targets to whose leads only are likely to become paid customers.
- Avoid wasting your time and energy while qualifying leads.
- Creates positive sales experience and higher customer satisfaction level.
- Increase conversion rates and thereby boost sales.
What are MQL and SQL in Sales? Which one is good?
The lead term MQL stands for “Marketing-Qualified Lead” whereas SQL stands for “Sales-Qualified Leads”.
Simply understand, SQLs is ready to deal with your sales department and MQLs has been just engaged with your company and has a chance to become a customer. And finally, MQL becomes an SQL when they are ready to deal with the sales team!
The main point of difference is their placement in a sales funnel, their intent of making purchases, outreach, and brand messaging.
MQLs in an early stage of the sales funnel become familiar with the product but do not intend to buy the product. On the other hand, SQLs are already there for making a purchase and have shown interest by contacting you.
Furthermore, the success of your sales and marketing efforts depends on having a healthy combination of both leads.
MQLs fulfill the top level of the sales funnel by generating interest and awareness, while SQLs are more likely to convert those leads into paying customers.
Conclusion
Thus, it’s clearly understood from the above concept that SQLs are an important aspect of a business’s success. So, get into these sales-qualified leads processes to engage with more customers and increase sales without wasting time and energy and focus on generating leads. Wanna make a bigger impact in the long run? Recognize SQLs as part of your sales funnel.