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The lead qualification process helps B2B marketing teams focus their efforts and resources on serious buyers and prospects that are likely to take the next step. It’s about prioritizing quality over quantity while delivering a personalized customer experience.
In this article, we’ll explain the lead qualification process step-by-step. But first, the why.
Why is the lead qualification process critical to marketing success?
The lead qualification process is a strategic and systematic approach to evaluating whether prospects are able, ready, and willing to make a purchase.
It answers questions like:
- Do they need your product?
- Do they have the authority to make a purchasing decision?
- Do they have the budget to make a purchase?
- Are they ready to make a purchase?
The goal is to minimize your lead pool and maximize sales.
“You should have a process that sets your sales savants up for success by allowing them to prioritize all of the most qualified leads when they’re actually ready.” – Forbes
Without an effective lead generation strategy, businesses waste their efforts on prospects that, even when face-to-face with marketing genius, aren’t going to take action. That means less revenue and decreased efficiency.
The lead qualification process also enables marketing teams to craft personalized experiences that deliver the right information to the right prospect at the right time. According to one report, 98% of marketers agree that personalization advances customer relationships, with seven out of 10 claiming that personalization allows them to deliver better customer experience while increasing loyalty and ROI.
The three-step lead qualification process
The lead qualification process follows prospects through three distinct steps: marketing qualified leads (MQL), sales accepted leads (SAL), and finally, sales qualified leads (SQL).
Let’s examine how this process unfolds in more detail.
1. Marketing qualified leads (MQL)
An MQL is a lead that has, after analysis by your marketing team, been labeled as fit for targeting as a potential customer.
This analysis might be something as simple as a lead magnet, such as a free downloadable, trial, or consultation. If the prospect takes that initial action, you can be sure they have at least some interest in your product or service and are ready to be nurtured into a sales accepted lead.
2. Sales accepted lead (SAL)
A SAL is a lead that has been qualified and passed secondary, more nuanced evaluation.
For example, let’s say you run a social media advertising campaign that promotes a webinar showcasing your product. A lead registers to attend – they are now an MQL.
Next, your sales team will connect them via phone, email, or even a retargeting campaign. The goal is to determine their “sellability,” their interest in your product, and their readiness and authority to buy.
3. Sales qualified lead (SQL)
An SQL has progressed through the first two steps of your lead qualification process and is now ready to be sold to. Before that happens, marketers and sales reps should conduct what’s known as a BANT analysis:
- Budget: Do they have the finances?
- Authority: Are they the decision-maker?
- Need: Do they have an urgent need or desire?
- Timing: What is the timeframe within which they need a solution?
The BANT analysis is fairly basic but should give you a rough idea of a lead’s quality. Depending on the product or service you offer, you can expand and tweak the above questions.
If a lead passes this final test, they are ready to be converted into a satisfied, loyal customer.
