Are you willing to increase your sales? Are you unable to find the solution as to how to increase sales? Are you facing difficulty understanding the different types of leads involved in your company’s sales process? If you are one of those facing such kinds of problems, you are at the right place. This article will learn what MQL, SQL, and other types of leads involved in your revenue funnel are.
Through this, you will also learn how to convert these leads into your actual customers. You can even take the help of a real estate SEO consultant. So, stay focused and explore the details of everything regarding leads and their conversion.
Types of leads
Sales and marketing involve various types of leads, and each of them is defined uniquely. The different types of leads that are engaged in a business are as follows:
- Hot lead
- Warm lead
- Cold lead
- Information qualified lead (IQL)
- Marketing qualified leads (MQL)
- Sales ready or accepted leads
- Sales qualified leads (SQL)
- Member service request leads (MSR)
As we move further in this article, we will see the meaning of ordinary leads, marketing qualified leads, and sales qualified leads. Also, we are going to learn the difference between the typical leads, MQL and SQL.
Typical or normal leads
In digital marketing, a lead is a person who has interacted with a business website, video, E-books, products, apps, etc., they are considered potential customers. However, they are not interested in something particular. They are considered to be regular prospects who might one day become a potential customer. You can browse this site for a real estate SEO consultant who can help you understand this more.
How to identify typical or normal leads?
It is easy to classify these people from the other categories of leads. People belonging to this classification show no interest in a specific product. They are just casual visitors aimlessly surfing the Internet. It is possible that someday they might revisit the website for a particular product they have seen on the website. But this is just a possibility and is not defined by certainty.
Marketing Qualified Leads (MQL)
Some leads are triggered in marketing; therefore, it is market qualified and is known as market qualified lead or MQL. Whether it is the blog, watching videos, downloading E-books, or attending the webinar, people who have done any of this particular activity will be termed marketing qualified leads. It is the publicity and campaigning that have got them to take action. However, these people are not quite ready to purchase the products yet. They may be interested and the thing but still quite distant from the purchasing decision.
How to identify Marketing Qualified Leads?
It is easy to identify marketing-qualified leads.
- If a person is visiting your website for more information about a particular offer you are providing, then he or she can be classified as a marketing qualified lead. This person was interested due to the discount or offer that you are providing to your customers. Your marketing tactics have forced the person to visit your site multiple times to gather information about the proposal.
- Another example can be that when a person provides their personal and contact details in exchange for some information, they can be considered marketing qualified leads.
There are various ways to identify people belonging to the marketing qualified lead section, for example, signing up for courses, mailing lists, asking questions in a live chat, clicking on advertisements, etc. The most appropriate word that defines Marketing qualified leads is curiosity.
Sales qualified leads (SQL)
When Leads enter the decision stage, they are called sales-qualified leads. It shows that the person has transformed into two potential customers, which is a chance that he will get converted into actual sales. It may not happen instantly. However, there is a chance of happening sometime sooner or later.
How to identify Sales Qualified Leads?
A simple way to identify this kind of lead is to pay attention to their movement. A sales qualified lead defines the consideration for purchase.
- These people might visit the pricing page quite several times.
- Even it is seen that sales qualified leads to show their interests in sales demo.
Difference between a typical lead, MQL, and SQL
Until now, we have seen information about these three types of leads separately. To understand the difference between them, let’s analyze an example.
Suppose there is a person who visited your website and just surfing through it aimlessly. This attitude shows that the person is not interested in something particular. He is just browsing through to see if something interests him but can’t find anything specific. They are the typical Leads or the normal Leeds. They are also considered regular prospects. It might happen that later at any point in time, they perhaps come back to find a particular product they had seen the first time they visited the website. But this thing is not sure.
Now, if the same person frequently comes to the website and looks for a particular product, and all the information is related to it from your site, they will be seen as MQL. But still, it is not clear whether they will buy the product or not at this stage.
Lastly comes the SQL stage, where the person seems to be interested in buying the commodity and is waiting on the final chapter before the purchase. It might happen that at the last moment, these people can quit. Therefore, sales-qualified leads need to be handled with extreme care to get the top deals. All these things can be handled pretty well by real estate SEO consultants.